Legendary Nigerian Producer, Don Jazzy didn’t sell MAVIN to Spotify for N40 billion

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There seems to be a fundamental disconnect between the story and the reality of the music business.

On April 2, 2022, a rumour spread like wildfire on social media, led by trolls and fun seekers. The short recap was, ‘Spotify acquires MAVIN Holdings for $70m.’

For context, MAVIN Holdings is the parent company of MAVIN Records, Nigeria’s leading record company.

But as it turns out, it was only an April Fool’s joke, which is a globally celebrated feat at the start of April.

The rumour always seemed improbably, not least because of queries like, ‘Why will Spotify purchase a record label, even if it’s one as big as MAVIN?’ or ‘Why will MAVIN, its partners and its investors sell to Spotify?’

There seems to be a fundamental disconnect between the story and the reality of the music business.

Nonetheless, let’s enjoy the bliss of April Fool’s Day, without giving each other a heart attack.

See also  Did You Know Nigerian Music Producer Don Jazzy Was Once Married?
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