Mdundo reaches 21.5 million active users and has launched major partnerships with
Company announcement no. 11-2022
Highlights:
- User Growth: 107% growth in monthly active usersfrom the first quarter of 2021-22 (10.4 million) to the end of the first quarter of 2022-32 (21.5 million). The largest country in terms of number of monthly active users was
Nigeria with +6.5 million monthly users, followed byKenya ,South Africa andTanzania . - Mdundo Premiumis now available in
Ghana , launched together with Ghana’s leading telecommunication provider, MTN. The service is now available for 150 million telco customers acrossTanzania ,Nigeria , andGhana . - The music catalogue has increased further with local and global repertoire. Management announced a licensing agreement with the world’s leading record label,
Universal Music , in July. - Annual Report with +200% growth in revenuefor the financial year 2021-22 released by the Company.
- 2025 Strategy implementation has started with a contentious focus on locally relevant content and solutions as well as a focus on driving value per user through premium and telecommunication partnerships. Management aims at 50 million monthly active users by
June 2025 as well as EBITDA positive in the financial year endingJune 2025 .
Outlook:
- Mdundo has previously announced that the number of monthly active users is expected to increase to approx. 25 million at the end of the financial year 2022-23 and further aim at 50 million monthly active users by
June 2025 . -
The company has previously guided an EBITDA for the financial year 2022-23 of negative
DKK 7 – 8.5 million as well as an expected revenue ofDKK 13-16 million , this is an improvement from an EBITDA of negativeDKK 8 million and revenue ofDKK 7.3 million for the last financial year. -
Management has previously communicated that the aim is to be EBITDA positive in the financial year ending
June 2025 .
Premium Service - Mdundo DJ Mixes available to 150 million telco customers:
The Mdundo premium service “Mdundo DJ Mixes”, which gives customers exclusive access to new DJ mixes every day for a daily subscription fee, was launched with the biggest telecommunication company in
Catalogue – Growth in local and international repertoire:
Mdundo announced a further growth of 43% from
Ad-Supported Service - Extensive reach across
Majority of the users were accessing the Mdundo’s advertisement-funded tier. The users are exposed to programmatic display ads within the service as well as direct placement of advertisement from key advertisers managed by Mdundo’s in-house sales team. Mdundo’s audio-ad format reached a total of 33 million people with 47 million ad-plays within the quarter and the advertisers included breweries, soft drinks, FMCGs and betting companies.
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
Kapital Partner A/S
Jernbanegade 4
1608 København V
+45 89 88 78 46
www.kaptalpartner.dk
Attachments
- Download announcement as PDF.pdf
- Mdundo Report 1st Quarter 2022-23.pdf
© Ritzau Denmark, source