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.