Mavin Records, the prominent record label helmed by music producer and entrepreneur Don Jazzy, has raised eyebrows by exploring investment opportunities or even the possibility of a complete sale.
This revelation came to light through an official statement released today on the Billboard website.
Billboard reports that the investment and outright sale of Mavin Records are currently valued at $125 million, with the potential to reach $150 million or even $200 million.
Mavins have already entered collaborative agreements with international entities.
Mavin Records was established by Nigerian music executive Don Jazzy after disbanding his previous label, Mohit Records.
Mavin Records boasts an extensive catalog featuring artists such as 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.
The news of the potential sale of the label did not come as a surprise to those following the conversation.
During an appearance on the Zero Conditions Podcast, Don Jazzy mentioned his openness to selling Mavin Records if the right offer comes along, but he also intends to remain a key figure overseeing the company’s operations.
Mavin Records’ decision to seek funding or entertain the notion of a sale is seen as a significant shift in the music industry landscape.
The statement reads,
“Mavin Records is actively seeking investment and is also considering a full sale, with interest and bidding emerging from industry giants like the Universal Music Group, HYBE, and a keen eye from financial sector music asset investors.”