Entertainment
Universal Music Acquires Majority Stake in Don Jazzy’s Marvin Records
Universal Music Group (UMG) has completed the acquisition of a majority stake in Mavin Global (Mavin), a distinguished music company headquartered in Lagos, Nigeria.
Mavin Records label was founded in 2012 by Michael Collins Ajereh, popularly as Don Jazzy, Mavin has played a pivotal role in propelling Afrobeats artists to prominence, both within Africa and on the global stage.
This strategic move by UMG comes about five years after Mavin secured a substantial multi-million dollar investment in 2019 from Kupanda Holdings, a joint venture between pan-African investment company Kupanda Capital and TPG Growth. With this latest development, TPG has divested entirely from the business, while Kupanda Capital will maintain a minority investment and continue as a strategic adviser.
UMG reiterates that Mavin will retain autonomy in steering its strategic vision and talent development. Don Jazzy, the founder and CEO, along with COO Tega Oghenejobo, will continue to lead the company under the terms of the agreement.
The deal’s completion depends on regulatory approval and is expected to be finalized by the end of Q3 2024.
What they said
in his statement, Don Jazzy declared that “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.”
Adding, Tega Oghenejobo said “With our proven history of collaborations within the UMG family, we have a strong belief that they are the ideal partner for the next phase of our growth, given the diversity and potential of our business.
“UMG is home to some of the world’s foremost music entrepreneurs and artists, making them a perfect match for our aspirations. By collaborating with UMG, we are dedicated to cultivating a vibrant creative environment that propels African music to new heights on the global stage.”
Sir Lucian Grainge, Chairman & CEO of Universal Music Group, also 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, a music powerhouse, hosts a lineup of stellar Afrobeats artists such as Ayra Starr, Ladipoe, Johnny Drille, Crayon, Magixx, Bayanni, Boyspyce, DJ Big N, Lifesize Teddy, and Rema.
Their chart-topping single, “Calm Down,” featuring Selena Gomez, reached an impressive No. 3 on the U.S. Billboard Hot 100 chart, marking a breakthrough for the Afrobeats genre.
This track has become one of the most significant Afrobeats songs ever, achieving the remarkable feat of being the first African artist-led track to surpass 1 billion streams on Spotify.
Ayra Starr, another gem from Mavin, earned a Grammy nomination for the Best African Music Performance for her track “Rush.”
Notably, its music video holds the record as the most-viewed video by a female Nigerian artist on YouTube. Mavin continues to make waves in the global music scene, solidifying its position as a driving force behind the success of Afrobeats artists.
UMG’s partnership with Mavin aims to accelerate the strategic growth of the Nigerian music company, providing more opportunities to showcase talent globally and expand its existing roster.
As part of their mission, UMG highlighted two key initiatives: Mavin’s Artist Academy, focused on training new talents in music and performance skills while fostering connections within the roster, and an executive leadership program aiming to groom the next generation of music industry professionals in Africa.
The timing of this partnership aligns with the booming music industry in Africa, as highlighted by the International Federation of the Phonographic Industry (IFPI).
In 2022, Africa experienced the highest growth rate in recorded music consumption, with Sub-Saharan Africa leading at an impressive 34.7% year-over-year growth, surpassing any other region globally.
Source: Nairametrics
Nigerian music sensation, Innocent Idibia aka 2Baba, has dismissed earlier claims that his Instagram account was hacked.
In a video shared on his Instagram story on Sunday night, 2Baba confirmed that a controversial post on his social media page regarding his separation from his wife, Annie Idibia, was indeed made by him.
The earlier Instagram post announced the end of his 13-year marriage to Annie.
The post read: “Hello to my beautiful people of all federations. Well, this thing I have to say is short but also long…I and Annie Macaulay have been separated for a while now, and currently filed for divorce.
“I would grant a press release soon to say my story. Not because it is anyone’s right to know about my personal life but because I love my people and I need them to know my innocence or offense. Stay blessed my people. I love you all.”
Shortly after, another post appeared on the same account, claiming that the page had been compromised.
It read: “My Instagram account has been hacked, efforts are being carried out to take back control. #onelove!”
In a surprising turn of events, 2Baba later released a video clarifying the situation.
He disclosed that his account had not been hacked, contrary to the previous statement, and implied that the initial post about his separation was authentic.
Entertainment
EFCC Has Most Corrupt, Wicked People in Nigeria, Bobrisky Lashes Out at Anti-graft Agency
Nigerian controversial cross-dresser, Idris Okuneye aka Bobrisky, has taken to his social media account to lash out at officials of the Economic and Financial Crimes Commission (EFCC).
The self-exiled transvestite, while reacting to EFCC’s plea to be kind and show sympathy for an official who was shot during a raid in Anambra State, alleged that the anti-graft agency has the most corrupt and wicked people in Nigeria.
Bobrisky, who criticised the EFCC for its hypocrisy, said he does not like reading about the anti-graft agency and feels like throwing up each time he does.
“I just don’t like reading anything about EFCC online, cus I feel like I want to throw up each time I read about them.
“You are asking the public to be human about the loss of one of your staff but you are the most wicked people in Nigeria,” Bob wrote on his official Instagram page.
He also recalled how his home was ransacked and he was manhandled by officials of the EFCC when he was accused of money laundering and naira mutilation.
“When I was in your custody, you took me to my house and searched my house.
‘‘When I asked you guys why, you claimed I’m into money laundering, you want to check if I’m not printing money in my house, Police are better than you all one million times…” Bobriksy added.
Nollywood actor, Saidi Balogun has reunited with his estranged wife, Faithia Williams at the graduation ceremony of their son, Khalid Ayomide Balogun.
The couple, both Nollywood actors, who called it quits with their marriage a few years ago, had cause to come together, to celebrate their son’s achievement as he graduates from the University of Lagos with a first-class honours.
Trending videos and photos captured the couple in jolly mood posing for photographs and exchanging pleasantries with well wishers and friends.
Saidi and Faithia had a bitter separation, which prompted Saidi to caution his ex-wife to desist from using his name, Balogun.
