- The attempt was made after the release of D’banj’s single “Tongolo”, which did not yield the expected financial success.
- Don Jazzy approached Nigerian music executive Obi Asika with the proposal to sell Mo’Hits Records.
- The attempt was made in the early days of Don Jazzy’s career.
Newsypeople- Don Jazzy, the renowned Nigerian music executive, has revealed that he once attempted to sell his record label, Mo’ Hits Records, for a surprisingly low price of one million naira.
This attempt came after the release of D’banj’s single “Tongolo,” which did not generate the expected financial returns.
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Don Jazzy explained that the need for immediate funds influenced his decision to approach Obi Asika, the founder and CEO of Storm Records, to merge Mo’ Hits and Storm Records.
Although the deal did not materialize, this turned out to be a blessing in disguise as Mo’ Hits Records went on to achieve massive success, boasting an impressive roster of artists including D’banj, Wande Coal, Dr. Sid, D’Prince, and K Switch. Don Jazzy himself became a celebrated music producer and a highly successful label executive.
Mo’ Hits Records was founded in 2006 by Don Jazzy and D’banj, and it specialized in Afrobeat music. The label released several successful albums, including D’banj’s “No Long Thing” and “The Entertainer,” as well as Wande Coal’s “Mushin 2 Mohits.”
The label also attracted international interest from acts like Kanye West and Jay-Z, with D’banj signing to Kanye’s GOOD Music.
However, the label eventually disbanded in 2012 after nearly a decade of dominating the Nigerian music scene. The breakup was attributed to differences in interests between Don Jazzy and D’banj, with D’banj leaving the group.
Don Jazzy went on to establish Mavin Records, which he later sold a majority stake in to Universal Music for a reported deal of $150 million.
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