African streaming service Mdundo has reached 30.8 million monthly active users (MAUs) by the end of 2023, marking a 16% increase from June 2023. The platform aims to achieve 50 million MAUs by 2025.

Key Performance Metrics (July-December 2023):

• Revenue: $824,000 (5.7M Danish krone), down 12% YoY
• Subscription revenue: $450,000 (3.1M DKK), up 48% YoY
• Advertising revenue: Decreased 41% YoY due to issues with Ad-Dynamo partnership
• EBITDA: Negative $477,180 (3.3M DKK), improved 21% YoY
• Cash burn: $303,600 (2.1M DKK)
• Cash balance: $1.94 million (13.4M DKK) as of December 31st

Business Model:

• Free tier: Users can download tracks supported by advertising revenue
• Premium tier: DJ mixes available through telecom partnerships in Tanzania, Nigeria, Ghana, and South Africa

Fiscal Year Forecast:

• Revenue: $2.02M - $2.46M (14M - 17M DKK)
• EBITDA: Negative $939,900 - $1.08M (6.5M - 7.5M DKK)

The platform's growth in subscription revenue is particularly notable given its recent introduction and affordable pricing structure. This expansion aligns with broader industry trends, as streaming services continue to gain traction in emerging markets, with platforms like Spotify seeing significant growth outside traditional markets of North America, Latin America, and Europe.

Related Articles

Previous Articles