Company announcement no. 6-2023
HIGHLIGHTS
- Contentious strong user growth: Mdundo.com reaches 29.2 million monthly active users in
September 2023 , up from 21.5 million inSeptember 2022 representing a 36% growth. -
Strategic Partnerships with
Aleph Group : Mdundo.com has appointedAleph Group as the reseller of audio ads in key African territories, Aleph is a reseller of X, Meta,Snapchat ,Tiktok , Spotify andGoogle advertising inAfrica . -
Contentious growth of talk-audio and podcast content: The service is experiencing a further growth of podcast and talk-audio content. In
September 2023 , 4% of all downloads were from this category, up from 2% inMarch 2023 . This is in alignment with the vision of providingAfrica with easy and legal access to online entertainment, and not only music. The most popular categories include music reviews, football highlights and educational content.
OUTLOOK
- Strategic Goals: Mdundo.com A/S aims to reach 50m monthly active users as well as EBITDA positive by 2025. The company has set three clear strategic focus areas:
- Delivering a locally relevant service and content for the 613 million mobile subscribers in
Africa expected by 2025. - Increasing the value per user through telecommunication partnerships.
-
Focusing on key markets;
Kenya ,Nigeria ,Ghana ,Tanzania andSouth Africa .
- User Growth Anticipated: Projecting 32% increase in monthly active users from
- Revenue Growth: Aiming for
- EBITDA Improvement: Targeting
MANAGEMENT REVIEW
Strong user growth and increase in marketing activities:
Mdundo.com A/S had 29.2 million monthly active users at the end of the quarter. Aligned with the vision of being a leading pan-african online content service, the company had a number of marketing initiatives throughout the quarter. The main objective of the marketing activities is to grow the premium service offered together with the telecommunication providers,
- In
Tanzania , Mdundo partnered withVodacom to run an on ground activation at the Saba Saba festival including live DJ performance at the event. -
In
Nigeria , the company ran a DJ battle and handed out a Mdundo Super DJ Award in collaboration with MTN Nigeria. -
In
Kenya , Mdundo celebrated Hiphop’s 50s birthday together withThe Blocc Party and Nairobi Hip Hop Fest, the event featured a number of high-profile Kenyan hiphop artists. -
Across
Africa , a new video content marketing asset, “Mdundo.com: Transforming the African music industry, one legal download at a time” was launched. This will feature video interviews with a number of stakeholders and staff members of Mdundo with the objective of creating awareness of the company's vision and impact on the continent.
Strategic sales partnership with
Mdundo has partnered with
Contentious growth of audio content
The service is consistently experiencing growth in the podcast and audio content category, the category accounted for 4% of downloads, up from 2% in Q3 2022-23. The company has engaged a number of local radio stations within the category and sealed a partnership with SNS (Simulizi Na Sauti), a major Tanzanian audio distributor, to distribute and monetize their content on the Mdundo.com service.
Industry event in
Mdundo.com hosted an event with one of Nigeria’s leading Gospel record labels,
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
Mdundo.com A/S
Jagtvænget 2
2920 Charlottenlund
www.mdundo.com
Certified Adviser
Ewaldsgade 9
2200 København N
+45 89 88 78 46
www.kaptalpartner.dk
Attachments
- Download announcement as PDF.pdf
- Mdundo Report - Q1 23-24.pdf
© Ritzau Denmark, source