Don Jazzy Reportedly Seeks Investment or Sale of Mavin Records: “It’s About to Be a Worldwide Label”

• The famous Nigerian music label Mavin Records is currently exploring avenues for investment or potential sale
• Reports have it that major international players in the industry, such as Universal Music Group (UMG) and HYBE, have already shown interest
• Mavin Records, which was founded in 2012, boasts of nurturing a good number of Nigeria's best music talents, from Wande Coal and Tiwa Savage to Rema and more

One of Nigeria's prominent record labels, Mavin Records, is reportedly up for sale or investment.

Owned and managed by the entertainment tycoon Don Jazzy, the music firm is seeking external funding to help position the label for more growth, as Billboard reported on October 6, 2023.

According to sources, Universal Music Group (UMG) and HYBE are the two biggest record labels and investment firms that have shown interest.

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Billboard also revealed that the investment and sale are worth $125 million and could reach $150 million or $200 million.

The media source emphasised that the companies featured in the study either declined to comment or did not reply to comment requests at the time of publication.

Don Jazzy has likewise not responded as of the time the news was published.

Founded in 2012, Mavin Records is a famous African music label that has managed top Nigerian artists like Wande Coal, Tiwa Savage, Reekado Banks, Korede Bello, Di'ja, Rema, Ayra Starr, Johnny Drille, Ladipoe, Boy Spyce, Bayyani, and the recently signed Lifesize Teddy.

See the post below:

Don Jazzy's Mavin deal sparks reactions

Legit.ng captured some of the reactions online:

@OneJoblessBoy:

"Hopefully the next round of funding will be heavy."

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@flowzki"

"Mavins about to be a worldwide label.. it’s an African giant already, global now."

@FortuneVandera:

"Mavin is about to be massive like these international record label."

@Allegrata3:

"I must be psychic. So weird, so so weird."

@ibiprofen:

"Hopefully it stays within Nigeria or at least WA. Can’t complain about our music and gatekeeping if we don’t have some form of ownership."

@gbengabiyi:

"Let him Cashout abeg. He deserves this."

Don Jazzy prays to own private jet like Davido

Meanwhile, Legit.ng earlier reported that Don Jazzy showed interest in owning a private jet.

Taking to his official Twitter page, the Mavin Record boss lamented how he had been trying to get to New York but found himself somewhere else.

Not stopping there, he went ahead to wish that he would one day become like Davido, who already has a jet. He prayed for God to do it.

Source: Legit.ng