Photo Credit: Mdundo
Back in June, the African streaming service Mdundo — supplier of music free of charge with support from advertising by leading African brands — announced that it wanted 50 million users by 2025. The company reports that it now has 20.3 million monthly active users, up 74% from June 2021. These numbers are slightly ahead of Mdundo’s projected expectations with steady growth across its many African markets.
“The team has been working hard towards our goal of 18 million monthly users by June 2022, set two years ago at our IPO. The target was later adjusted to 19-20 million,” explains Mdundo CEO Martin Møller Nielsen.
“We have had a strong focus on creating a locally relevant service for the past two years. Our strategy is paying off, and it is extremely satisfying to beat our user target. This emphasizes the growth potential for our service, and we’re extremely motivated to work towards 50 million monthly users by June 2025.”
“We are extremely satisfied with the growth we’ve experienced over the past 12 months,” adds Michael Okeje, Head of Growth at Mdundo. “South Africa has grown almost 20-fold in the last year, Kenya has more than doubled and Nigeria by 75% in the last year (show) the huge potential for our services within our focus markets.
The growth is a result of continuously focusing on locally relevant service and content as well as our strategic partnerships. We expect it to continue towards our goal of 25 million by June 2023 and 50 million by June 2025.”
