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
Entertainment
Actor Lalude Laments Unpaid N1.5m Promised Him by MC Oluomo to Campaign for Tinubu, Sanwo-Olu
Nollywood actor, Fatai Adekunle Adetayo, popularly known as Lalude, has accused the president of the National Union of Road Transport Workers (NURTW), MC Oluomo, of failing to fulfil financial promises made to celebrities who campaigned for President Bola Tinubu and Lagos State Governor, Babajide Sanwo-Olu, during the 2023 general elections.
Speaking during a recent episode of the Beyond the Fame podcast, Lalude expressed deep disappointment over what he described as abandonment, revealing that he and other entertainers were promised N1.5 million each by MC Oluomo but never received a dime.
Lalude, known for his iconic ‘babalawo’ roles in Yoruba movies, said he and other actors, including comedian Ganiu ‘Alapini’ Nofiu, were lodged and made to campaign for weeks without proper compensation.
According to him, they initially received N10,000 daily for feeding, but even that was stopped abruptly.
“We were camped for seven weeks. We trekked long distances every day while MC Oluomo followed us in his car. In the end, we were abandoned,” he lamented.
He claimed that both he and Alapini were promised N1.5 million each, a promise that was never fulfilled.
‘We finished the work and no dime was given to us. Is it good? It was MC who called us.
“MC promised me and Alapini. He asked us to demand for whatever we wanted. We did but we got nothing up till date.
“He took us to where we lodged to campaign for the president. He promised to give us N1.5 million each.
“Whoever is behind these misdeeds will not prosper. I know they will still come to us by 2027 and we are waiting for them?” He added bitterly.
This comes just days after veteran Nollywood actor Ganiu Nafiu, popularly known as Alapini, and actress Bukky Adekogbe Raji, also known as Aminatu Papapa, expressed deep regret for supporting President Tinubu during the 2023 presidential campaign.
Popular Nigerian film and stage producer, Kayode Peters, has passed away in Canada.
“Yes, he is,” Yaw told Peoples Gazette when asked if Mr Peters had died. “I am still trying to speak with his brother but he is not picking.”
Circumstances surrounding the producer’s death remain unclear as of the time of this report.
Mr Peters was known for his work on several stage plays and sitcoms, including Extended Family, and he was behind the hit comedy sitcom Flatmates in the early 2000s. He was also regarded as a significant contributor to Nigeria’s contemporary theatre and television space.
Anna Wintour has stepped down as the editor-in-chief of Vogue after an impressive 37-year tenure.
According to recent reports, Condé Nast, the publisher of Vogue, has initiated the search for her successor.
This significant development marks a new era in the fashion industry, given Wintour’s unparalleled influence in shaping Vogue’s editorial direction and cementing its position as a global fashion authority.
As Wintour’s legacy continues to inspire future generations of fashion enthusiasts and industry professionals, her departure raises questions about Vogue’s future direction and the potential shifts in editorial focus.
However, the circumstances surrounding her departure remain undisclosed.
