Music executive and CEO of Mavin Records Don Jazzy has explained why the label partnered with Universal Music Group (UMG) after debunking rumour of the sale of the record label.
In October 2023, Billboard reported that Mavin Records “is seeking investment or eying a potential full sale with bidding coming from the Universal Music Group, HYBE and strong interest from music asset investors in the financial sector, according to sources.”
But in an episode of the Zero Conditions podcast, Don Jazzy insinuated that the label is not seeking a sale but being approached by investors.
The 41-year-old, however, announced a partnership with UMG in a statement shared on his Instagram account on Monday, writing that the collaboration will “bring more music, innovation, and opportunities, allowing us to showcase African talent worldwide.”
He wrote: “I’m thrilled to announce that Mavin Records has partnered with Universal Music Group, marking a new chapter in our journey. This partnership is a milestone that recognizes our collective talent and hard work, aiming to elevate African music on the global stage.
“Our collaboration with UMG will bring more music, innovation, and opportunities, allowing us to showcase African talent worldwide. While we embark on this exciting new path, our core mission and values will remain intact, ensuring that the essence of Mavin and our commitment to pushing musical boundaries continue to thrive.
“This step forward is a testament to the dedication of our artists, staff, and, importantly, you, our fans, whose unwavering support has been instrumental in reaching this moment. Together, we look forward to making history, breaking more records, and building a lasting legacy.
“Thank you for your continued belief in us. Here’s to our bright future together.”
