Q1 has been a strong quarter for Mdundo.com with quarterly growth of 27% in monthly active users from 5.0m in June to 6.4m in September, 144% growth compared to
Company Announcement Number 6-2020
Highlights:
- 27% growth in monthly active users from June (5.0m) to September (6.4m) 2020, the company is on track for the 9m monthly active user target in
June 2021 and 18m in 2022 -
The growth is significant in both
East, West andSouthern Africa , which supports Mdundo’s mission to be the primary pan-African music platform -
Closing the first significant B2B direct advertisement deal outside
East Africa with the telecommunication company 9mobile inNigeria -
During the quarter, Mdundo’s sales team in
Kenya closed B2B advertisement deals with global and pan-African brands likeSafaricom ,Standard Chartered , Nivea,Oxfam and Serengeti. - The company has not been affected by COVID-19 and are on target for all key metrics.
Outlook:
- Mdundo has already announced that monthly active users are expected to grow by 70-80% to eight and a half to nine million in 2021 with an additional growth of around 100% towards 2022, reaching 18m. This is still the expectation despite the COVID19 outbreak.
- The Company’s financial expectations, revenue and EBITDA, for the financial year 2020/21 are also unchanged including 150% growth in Revenue from 2019/20. The financial expecations are unaffected by the COVID19 pandemic.
- Mdundo maintains the expectations of implementing the first partnership with a telecommunication partner before the end of 2020. In addition, the company has increased the pipeline of potential telecommunication partnerships.
Attached 1st quarter report 2020/21
Management review:
Strong growth: Mdundo delivered very strong growth of 27% in monthly active users from
Find user growth graph here or in attached PDF version
Ad-sales breakthrough in
Find Mdundo Brandlift graph here or in attached PDF version
Improved android app: The monthly active app users are back to the level of April following temporary removal from Playstore in May and June as expected. An improved version of the Mdundo Android App was released in
Organizational ramp-up: As presented in the Company Description published on 17th of August Mdundo is planning to ramp-up the organization as an important steppingstone for the continues growth and the mission of building the leading pan-African music service with approximately 18m users end 2021/2022. Currently we are expanding the management-team and expect to sign three key hires before end of November. Furthermore, Mdundo is currently hiring additional Ad-Sales account managers in
Contacts
- Jesper Vesten Drescher, Bestyrelsesformand/Chairman of the board, +4523229900, ir@mdundo.com
About Mdundo.com A/S
Mdundo is a leading music service for Africa with millions of people streaming and downloading music from our app and website every month. We aim to provide Africa’s millions of internet users with easy access to music whilst contributing structure, legality, and income to the sector. More info: https://mdundo.com/
Mdundo.com A/S
Jagtvænget 2
2920 Charlottenlund
www.mdundo.com
Certified Adviser
Jernbanegade 4
1608 København V
+45 89 88 78 46
www.kaptalpartner.dk
Attachments
- Download announcement as PDF.pdf
- Mdundo Report 1st Quarter 2020-21 EN.pdf
© Ritzau Denmark, source