Mavin is Moving! (Part 2)
How Nigeria’s Music Titan Hitched a $150M Ride with Universal in 2024
Imagine Mavin Entertainment as Nigeria’s musical spaceship—once a scrappy indie zooming through Lagos’ orbit, it’s now docked with Universal Music Group (UMG), the galaxy’s biggest player. When I first chronicled Mavin’s 2019 ascent, it was a $9.5M startup fueled by Kupanda Capital’s $5M boost. Later, I further covered its 2022 deal with TPG at a $25M valuation. By 2025, it’s a $150M titan, acquired by UMG in May 2024, with 2023 revenues soaring to $31M. Artists like Rema and Ayra Starr are streaming into the stratosphere, and Mavin’s proving Afrobeats isn’t just a sound—it’s a global business juggernaut.
For execs and advisors in entertainment and VC, Mavin’s UMG leap isn’t just a headline—it’s a treasure map. With fresh Companies House filings spilling the details, here’s how Mavin’s moving in 2025 and what it means for the industry.
The UMG Deal: A $150M Galactic Handshake
Mavin’s journey hit hyperspeed on May 31, 2024, when UMG SPV Holdings Limited snapped up likely 100% of MGHL’s sh…