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.'
Don Jazzy didn't sell MAVIN to Spotify for N40 billion [Pulse Fact Check]
There seems to be a fundamental disconnect between the story and the reality of the music business.
Nigerian music mogul Don Jazzy [Instagram/DonJazzy]
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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.
ALSO READ: Tega Oghenejobo of MAVIN can be the answer to Universal Music Group’s troubles in Nigeria
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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.
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