Company Announcement Number 06-2024
Highlights:
User Growth Trajectory: Mdundo.com maintains its upward trajectory, reaching 34.5 million monthly active users in
March 2024 , marking a 41% increase from the previous year. The company anticipates further growth, projecting an increase to 35 million monthly active users byJune 2024 and aiming for 50 million by 2025.Revenue Outlook: Targeting revenue of
DKK 12-14 million for the financial year endingJune 2024 .EBITDA Improvement: The company expects a year on year improvement and with an expected minus
DKK 6 to 7 million, Mdundo.com is demonstrating progress towards its strategic goal of being EBITDA positive.Regional Focus and Stakeholder Engagements: Mdundo.com expanded its market presence with targeted campaigns, engaging audiences in regions such as northern
Nigeria andKenya's Kalenjin tribe. Furthermore, the company hosted successful stakeholder events, such as the "Mdundo Mixers" inUganda andGhana , driving insights, conversations, and new opportunities within the music industry.
Outlook:
Strategic Goals: Mdundo.com A/S aims to reach 50 million monthly active users as well as EBITDA positive by 2025. The company has set three clear strategic focus areas: 1. Delivering a locally relevant service and content for the approx. 625 million mobile subscribers in
Africa expected by 2025. 2. Increasing the value per user through telecommunication partnerships. 3. Focusing on key markets;Kenya ,Nigeria ,Ghana ,Tanzania andSouth Africa .User Growth Anticipated:Projecting an increase in monthly active users from 34.5 million in
March 2024 to 35 million byJune 2024 , aiming to increase further to 50 million by 2025.Revenue:Aiming at
DKK 12-14 million for the financial year endingJune 2024 .EBITDA Improvement: Targeting minus
DKK 6 to 7 million, showcasing an improvement of approx.DKK 1-2 million from the prior financial year.
Management Review:
Consistent growth in monthly active users
Mdundo.com continued the consistent growth in monthly active users with 34.5 million monthly active users in
Live Events: Mixers in
Within the quarter Mdundo organized stakeholder events, the so-called “Mdundo Mixers”, in
Locally Present: Hausa & Kalenjin
Mdundo has had a strong focus on regional catalogue and launched two campaigns specifically targeting the Hausa tribe in
Leading impactful advertising campaigns
Throughout the quarter a number of leading advertisers have run campaigns on Mdundo. In total 22 campaigns have run across
The "Twende Mbele na NCBA" campaign aimed to bolster NCBA's brand visibility and drive consideration and conversion through a CSR initiative. Mdundo organized a one-hour X (Twitter) conversation engaging users with questions like how NCBA inspires them, their financial routines involving NCBA, music preferences for the NCBA Twende Mbele Playlist, and Easter investment reflections. Leveraging audio ads that are still ongoing, the campaign garnered significant traction, trending on Twitter with 971 tweets and 178 reposts, effectively amplifying NCBA's presence and fostering community engagement.
Mdundo collaborated with Tusker Lager to empower female artists across
Navigating major opportunities in
One of Mdundo’s focus markets,
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 Q3 Statement 23-24.pdf
© Ritzau Denmark, source