Mdundo.com a Kenyan-based music streaming service has recorded 20.3 million monthly active users in June 2022, beating the upgraded expected target of 19 – 20 million for the month, a growth of 74% compared to June 2021.
The company – which released its 2025 strategic direction in June 2022 – is aiming at recording 50 million monthly active users and a positive EBITDA for the financial year ending June 2025.
“We have increased the average brand up-lift for our advertising clients by an average of 8%, with the most noticeable impact towards the end of the customer decision making process impacting consideration, favorability and purchase intent by an average of 10%. It is extremely satisfying to know that the return on investment for our clients is directly related to our campaigns’ driving impact in addition to incremental reach across all key markets,” says Rachel Karanu, Head of Brand Partnerships, Mdundo.
Nigeria remains the biggest country for the Kenyan based company with a total of 4.9 million monthly users, followed by South Africa with 3.7 million, Kenya with 2.8 million and Tanzania with 2.4 million.
The company’s advertising serving platform, The Mdundo Brand Lift Tool, has improved customer’s brand performance by an average of 8% across Kenya, Nigeria and Tanzania with the highest performing campaign reaching a growth in overall brand lift of 85%.
Mdundo aims to provide the users with easy and legal access to online entertainment by delivering locally relevant content, formats, and channels to consumers in Africa, while driving value per user through premium products and telecommunication partnerships.
Listed on the Danish Exchange, Mdundo music service is primarily used by the mass-market audience across Africa with limited access to streaming services and social media apps. The music is free of charge, but the customer is exposed to advertising by leading African brands.
