African streaming service Mdundo is experiencing significant growth, now reaching approximately 36 million monthly active users. The platform projects royalty payouts exceeding $1 million in 2025, demonstrating substantial progress in the emerging African music market.

The company's revenue has shown consistent growth:

• 2021: $295,827
• 2022: $1.04 million
• 2023: $1.92 million

Mdundo has already distributed royalties to 156,000 music professionals and expects to pay between $1.1 million and $1.3 million to artists in 2025.

The platform currently operates in ten African countries:

• Kenya
• Tanzania
• Uganda
• Nigeria
• Ghana
• Zambia
• Zimbabwe
• Mozambique
• Angola
• Rwanda

Mdundo is focusing on hyperlocal markets to maximize impact for both artists and advertisers. This strategy includes targeting specific regional content such as:

• Hausa media in Nigeria
• Kalenjin and Kamba music in Kenya
• Selected markets in Uganda

According to CEO Martin Nielsen, the company aims to deliver consistent earnings while supporting the development of Africa's music industry. This strategy appears to be working, as evidenced by a 5.8% increase in Mdundo's stock value (CPH: MDUNDO) during recent trading.

The company plans to release its next annual report on October 7th, while continuing to expand its presence in the African music streaming market alongside competitors like Boomplay, which recently secured a distribution agreement with YG Entertainment.

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