MUSIC

Universal Music Group Acquires Majority Stake In Mavin Records

Published

9 months ago

February 27, 2024

UMG Acquires Majority Stake In Mavin Records | Fab.ng

Putting rumours to rest, Universal Music Group, the world’s largest music company, announced on February 26, 2024, that it has acquired a majority stake in Mavin Records Music. This significant acquisition is still awaiting regulatory approval.

“Universal Music Group (UMG), the world leader in music-based entertainment, today announced a majority investment in one of the world’s most dynamic and exciting independent record labels, Mavin Global (Mavin). The deal remains subject to regulatory approval and is expected to close by the end of Q3 2024,” the press release reads.

You may remember a previous report on Fab.ng, which mentioned an article published by Billboard about the possibility of Mavin Records being bought by international music companies like Universal Music Group (UMG) and HYBE.

The Billboard report stated that Mavin Records was in talks with a potential buyer, with the sale possibly exceeding $100 million.

Don Jazzy, the founder and leader of the music brand, appeared on the “Zero Conditions Podcast” and confirmed that he was open to the idea of selling his company. However, he emphasised that any such deal must allow him to remain in charge of the label’s operations.

Here, we directly quote Don Jazzy regarding the acquisition:

” I’m proud of the artists, careers, and brand we’ve built that have made Mavin the force it is today. In this historic partnership with UMG, we will continue that mission in Africa and across the globe.”

Universal Music Group’s chairman and CEO, Sir Lucian Grainge, stated:

“Our criteria for identifying partners is straightforward: great artists, great entrepreneurs, great people. With Don Jazzy, Tega, the Mavin Global team, and their artist roster, we’ve found ideal partners with whom to grow together. Mavin’s brilliant artists have been catalysts in the transformation of Afrobeats into a global phenomenon and we’re thrilled to welcome them into the Universal Music Group family.”

While the official press release didn’t disclose the specific financial details of the acquisition, it did confirm two key points:

TPG Exits Completely: TPG, a previous investor in the music brand, has fully divested their stake in the company.
Kupanda Capital Remains Involved: Kupanda Capital, another former investor, will retain a minority ownership interest in Mavin Records. Additionally, they will continue to offer strategic guidance to the label.

This acquisition officially makes Mavin Records a subsidiary of Universal Music Group (UMG), the world’s largest music company. UMG boasts a diverse portfolio of other record labels, including Def Jam, Motown, Interscope, Polydor, Republic Records, and Virgin Music.

Get more updates here.

Related Topics:Featured Mavin Records Music Universal Music Group

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Kendrick Lamar Drops Surprise Album, “GNX”

Published

10 hours ago

November 25, 2024

Reporter

GNX: Kendrick Lamar drops surprise album | fab.ng

Kendrick Lamar surprised fans with the unexpected release of his new album, GNX. Following a headline-dominating 2024, this album marks what seems like a victory lap for the influential rapper.

GNX, which officially dropped on November 22, 2024, features 12 powerful tracks, including Heart 6. This song continues Lamar’s celebrated Heart Series and delivers a bold statement.

Despite Drake’s earlier attempt to disrupt the series by releasing his own diss track titled Heart 6, Kendrick remains undeterred. He reclaims his narrative and asserts his creative control, showing his resilience.

The album release followed shortly after Kendrick received the prestigious title of “Rapper of the Year” from Apple Music. The platform praised his unparalleled success and significant impact on hip-hop throughout 2024.

Kendrick intriguingly wrote in a note accompanying the album’s Apple Music debut: “He asked us to ‘watch the party die,’ but only so he could resurrect it.”

This message adds to the album’s mystique, reflecting Kendrick’s ability to revive and redefine the culture.

Interestingly, GNX excludes any tracks from Kendrick’s high-profile diss battle with Canadian rapper Drake. Fans may be surprised by the omission of his hit diss track Not Like Us, especially given their rap rivalry’s iconic status.

This decision highlights Kendrick’s strategic artistry, choosing to focus on his broader musical vision rather than reigniting the feud.

Kendrick’s remarkable year extends beyond music. He recently secured multiple 2025 Grammy nominations, including Record of the Year, Song of the Year, and Rap Song of the Year.

Additionally, he’s set to headline the 2025 Super Bowl in New Orleans, further cementing his influence.

With GNX, Kendrick Lamar concludes 2024 on a triumphant note, solidifying his dominance in the hip-hop landscape.

Stream the album below.

Check out more music updates here.

MUSIC

Nicki Minaj Features Davido On “The Pink Print” 10th Anniversary Edition

Published

3 days ago

November 22, 2024

Reporter

Pink Print 10th Anniversary Edition: Nicki Minaj Feat Davido | fab.ng

Nigerian superstar Davido has joined forces with Nicki Minaj for an exciting new track. The collaboration appears on the 10th-anniversary edition of Nicki Minaj’s iconic album, The Pink Print, originally released in December 2014.

The album, which featured hits like Anaconda and Only (featuring Lil Wayne and Chris Brown), celebrates its milestone with four fresh tracks, spotlighting several global artists, including Davido.

Released on November 22, 2024, this special edition includes If It’s Okay, where Davido shares the spotlight with French DJ and producer David Guetta.

This marks Davido’s second collaboration with Nicki Minaj; their first partnership was on Holy Ground from Davido’s 2020 album A Better Time.

The track blends Afrobeat rhythms with Nicki’s signature rap style, creating a dynamic fusion that highlights both artists’ strengths.

Nicki Minaj took to her X account to express heartfelt appreciation for Davido’s contribution. Her post quickly garnered attention from Nigerian fans, who admired her engagement with the Nigerian music scene.

Thank you @davido pic.twitter.com/KgrnqN97y8

— Nicki Minaj (@NICKIMINAJ) November 22, 2024

This connection isn’t new; Minaj has previously interacted with her Nigerian audience, often sharing posts in Pidgin English.

Alongside If It’s Okay, the anniversary edition features other notable tracks, including Turn Yo Cap Back featuring Swae Lee, Arctic Tundra with the late Juice WRLD, and Remember Me featuring Parker Ighile. Each song adds a new dimension to the already celebrated album.

Since its original release, The Pink Print has cemented Nicki Minaj’s status as one of the greatest female rappers in history.

Her continued influence and collaborations with global stars like Davido underscore her commitment to evolving artistry and international appeal.

This latest collaboration further bridges the gap between Afrobeat and global pop culture, showcasing Davido’s growing influence on the world stage.

Check out more music updates here.

FAB FRESH

Wizkid Releases His Highly Anticipated Album, “Morayo”

Published

3 days ago

November 22, 2024

Reporter

Wizkid Releases His Highly Anticipated Album, "Morayo" | fab.ng

After months of anticipation, Wizkid has finally dropped his highly awaited eighth project and sixth studio album, Morayo. He named the album in honour of his late mother.

Released on November 22, 2024, Morayo features 16 tracks. It includes collaborations with Brent Faiyaz, Asake, Jasmine Sullivan, Anaïs Cardot, and Tiakola.

The album was preceded by two hit singles, Piece of My Heart featuring Brent Faiyaz and Kese (Dance). Both songs achieved remarkable milestones, setting new streaming records on Spotify Nigeria.

Kese (Dance) amassed 1.5 million streams on its first day. It surpassed the previous record held by Piece of My Heart, which garnered 1.016 million streams on its opening day. These achievements highlight Wizkid’s enduring popularity and dominance in the African music scene.

In addition to these milestones, Wizkid set a new record for the highest number of opening-day streams for an African artist on Spotify. This achievement reaffirms his status as one of the continent’s most influential and commercially successful musicians.

With Kese (Dance) from “Morayo” breaking records, Wizkid now holds the top four spots on the list of the biggest first-day streams on Spotify Nigeria.

This unprecedented accomplishment underscores his consistent ability to capture audiences and generate massive streaming numbers with each release.

Fans and industry insiders alike expect Wizkid’s latest album to continue this record-breaking trend. Morayo not only showcases his musical versatility and knack for collaborations but also solidifies his position as a global ambassador for African music.

By combining heartfelt tributes with infectious beats, Wizkid continues to push the boundaries of Afrobeat, reinforcing his legacy as a trailblazer in the industry.

As Morayo garners more attention and accolades, it further cements Wizkid’s reputation as a powerhouse in Nigerian and global music, setting new benchmarks for future generations.

Listen to the album below.