Music mogul Don Jazzy opened up about a humbling moment in his career journey during a recent interview with Bounce Radio.
He recounted a time when he attempted to sell Mo’ Hits Records, the label he co-founded with D’banj, for a mere 1 million naira (roughly $2,200 USD). This difficult period came after their single “Tongolo” gained popularity but didn’t translate into the financial success they’d envisioned. Negotiations to sell the label to music executive Obi Asika ultimately fell through.
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Fast forward to 2024, Don Jazzy’s story has taken a dramatic turn. He announced the successful sale of a majority stake in his current label, Mavin Records, to global music giant Universal Music Group for a whopping $150 million.
Sharing the news with fans on Instagram, Don Jazzy expressed his excitement about the partnership. He sees it as a chance to not only validate Mavin Records’ hard work but also propel African music onto the global stage.
This collaboration with UMG is expected to open doors for Mavin Records, reaching new audiences and contributing to the international influence of African music. Don Jazzy reassured fans that Mavin Records’ core values will remain strong despite embarking on this exciting new chapter.
