Don Jazzy spends N170 million on five Mavin artists in 2023

Nigerian music journalist, Joey Akan, has revealed that Mavin Records, the music label owned by Don Jazzy, spent a total of $225,000 in the first three months of 2023 to produce and release songs for five of its artists.

According to Akan, Mavin Records released just seven songs in the period for its signees, including Ayra Starr, Boy Spyce, Rema, Crayon, and Magixx.

The expenditures for these releases were broken down by the podcaster, showing how the $225,000 (approximately N170 million) was used for songs like Boy Spyce’s “Folake” and Ayra Starr’s “Sability.”

Akan’s revelations highlight the significant investments made by record labels to promote and support their artists.

It also showcases the potential return on investment for successful artists, who can generate substantial revenue for themselves and their record labels through their music.

In his words;

In the first quarter of 2023, Mavin Records have spent an average of $225,000 on dropping music for artists on their roster. The record label have released 7 records from 5 artists, with one from each artist worked through the system as a singles.

How? Why the high cost? Mavins started early. Boy Spyce charged out the gate with ‘Folake’ on January 25th. 2 weeks later, Ayra Starr’s “Sability” dropped on February 9.

Rema would come rushing in with “Holiday” and “Reason You,” barely 10 days later, on February 15. Elections were crucial business, so a month lay-off was ended with Crayon’s “The One.”

Magixx rounds off a busy quarter with “Colors” and “Royal.” Based on data I’ve collected from multiple records labels operating locally: The average going rate for established artists and records labels to work a single is $35,000.

This covers cost to work your song via radio, TV, digital marketing, influencer campaigns, clubs and DJs. Throw in the average $10,000 (not T.G Omori price o) music video cost, and it comes up to a cool $45,000 for a single campaign.

Mavins have 5 campaigns in the last 3 months, spending an average of $225,000 to work pop songs and dominate the charts with each release. Nearly $230,000 is cost of a full house, to work singles, and they’ve got it covered with V.C funding from Kupanda.

Nigerian music is capital intensive. Every step of the way is paved with billing, and each inch of real estate is carved from spending strategically. But, imagine how steep the playing field is. How the financial barrier of entry into the mainstream market is the number one obstacle to realising your dreams in music.

Without this war chest, upcoming artists are left with hope. Hope that one day, they’ll find a sponsor to foot this cost. Either via major label signing, or an individual’s deep pocket.

Mavins started early. Boy Spyce charged out the gate with ‘Folake’ on January 25th.

2 weeks later, Ayra Starr’s “Sability” dropped on February 9.

Rema would come rushing in with “Holiday” and “Reason You,” barely 10 days later, on February 15.

— Joey Akan (@JoeyAkan) March 28, 2023

Based on data I've collected from multiple records labels operating locally: The average going rate for established artists and records labels to work a single is $35,000.

This covers cost to work your song via radio, TV, digital marketing, influencer campaigns, clubs and DJs.

— Joey Akan (@JoeyAkan) March 28, 2023