Mavins Records, arguably Nigeria’s biggest record label has grown further after signing a multimillion merger deal with international talent management company, Kupanda Holdings.
Michael Collins Ajereh(Don Jazzy), the CEO of Mavins Records and one of the Nigeria music industry’s biggest names has revealed that the new deal will see Mavins widen its coast, bring more good artistes on board and will provide an ample opportunity to grow the ones on ground.
After a rather quiet 2018, which saw other labels grow in stock and value, Mavins’ quiescence is now better understood as the product of the almost ‘pindrop’ silence from the label is now arguably Africa’s biggest deal. If the new merger plays according to plan, it may be a global phenomenon, cooked from Nigeria’s music kitchen.
“By collaborating with artists, African creatives, local and international partners, we can become a globally recognised household name and the go-to platform for connecting African music with the world.
“Our mission is to grow Mavin Global into the music powerhouse of Africa,” Don Jazzy said.
“With the resources and operational capacity Kupanda Capital brings along with its investment, Mavin is now ready to grow our artist roster and facilitate partnerships at a global scale. We are looking to build an institution that will support the fantastic creative ecosystem in Africa, and move Afrobeats to the forefront of the global industry,” said Tega Oghenejobo, Chief Operating Officer of Mavin Global.
Mavins currently has Tiwa Savage, Korede Bello, Johnny Drille, DNA, Di’Ja, D’Prince, DJ Big N, Ladipoe and Dr. Sid signed on to the label. One of the brightest spots of the label in recent times, Reekado Banks left some months ago but had only good words for the level of growth he was able to attain while on board.
Kupanda Holdings, who are partners with global brands, Spotify, Cirque du Soleil, TRACE TV and others expressed satisfaction with the deal.
“Between Don Jazzy’s leadership in defining the sound of modern Afrobeats and developing top African artists, Mavin Global has a unique advantage and opportunity to build the record label that will accelerate the promotion of African popular music to the world. We are impressed by the Mavin team’s experience and are pleased to partner with them in their next phase of growth,” Bobby Pittman, Co-Founder and Managing Partner at Kupanda Capital said.
Encomiums have been pouring in for Mavins with industry heavyweights in Nigeria expressing their satisfaction with what Mavins has been able to achieve with the Kupanda Holdings deal.
— Yung denzL (@MI_Abaga) January 30, 2019
It is with great pleasure that all of us at Mavin announce our new partner — Kupanda Holdings. Mavin, since 2012, has been committed to continuously promoting structures, diverse genres, and collaborations across multiple sectors, thereby contributing our quota to Africa's GDP. pic.twitter.com/XM39LLP9Ka
— Tega | #SMD (@TEGAMAVIN) January 30, 2019
— AuduMaikori (@Audu) January 30, 2019
The Nigerian music industry is a hotspot for potential businessmen and corporate organisations as it is a fast growing one, yet still to be wholly tapped into.
According to the most recent statistics data from industry trade body, IFPI, the global recorded music market grew by 8.1% in 2017, reaching $17.3 billion on the strength of digital streaming revenue. That growth continued in 2018 and is expected to pique in 2019 too.
Most recently, Nigerian musicians, Wizkid and Davido have earned international reputation by selling out grounds in the UK, with accolades pouring in from far and near.
Burna Boy, and Mr. Eazi have also been invited for the Coachella Music festival in 2019 and it will only get better for Nigerian music, as it proves itself capable of wagging its tail in the midst of the biggest and the best.