Don Jazzy recalls attempting to sell Mo’hit records for 1 million naira
In a 2018 interview on Bounce Radio, Don Jazzy recalls his attempt to sell Mo’hit records which he co-founded with Afrobeats music legend D’banj for 1 million naira.
When asked if he once tried to sell Mo’hit records in the early days of the record for 1 million naira to renowned Nigerian music executive Obi Asika, Don Jazzy confirmed that he did attempt to sell off the label albeit unsuccessfully.
According to Don Jazzy, the attempt to sell Mo’hit came after D’banj released the single ‘Tongolo’ which earned him some mainstream attention but didn’t bring the money they were hoping to make.
Don Jazzy explained that they needed some money at that moment and this influenced the decision to sell Mo’hit to Obi Asika who at the time was the founder and label boss of Storm Records which was one of Nigeria’s biggest labels.
Although Don Jazzy didn’t explain why the deal didn’t go through, this would turn out to be a blessing in disguise as Mo’hit Records will go on to become hugely successful with an enviable list of stars including D’banj, Wande Coal, Dr. Sid, D’Prince, and K Switch. Don Jazzy will also become a hugely successful label boss and a celebrated music producer.
Mo’hit Records would eventually break up in 2012 after nearly a decade of dominating the Nigerian music industry.
Although Don Jazzy unsuccessfully attempted to sell Mo’hit Records, he did successfully sell off a majority stake in his second record label Mavin Records in 2024 to global music powerhouse Universal Music for a deal rumoured to be in the ballpark of $150 million.
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