African streaming service Mdundo continues to show strong growth, now reaching approximately 36 million monthly active users. The platform projects royalty payouts exceeding $1 million in 2025, marking significant progress in its mission to support African artists.

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 the coming year.

The platform currently operates in ten African countries:

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

The company is implementing a hyperlocal market strategy, focusing on specific regional content such as:

• Hausa media in Nigeria
• Kalenjin and Kamba music in Kenya and parts of Uganda

According to CEO Martin Nielsen, this targeted approach helps deliver consistent earnings to artists while supporting Africa's growing music industry. The strategy has proven successful, with Mdundo's stock (CPH: MDUNDO) seeing a 5.8% increase in recent trading.

The company will release its next annual report on October 7th, providing further insights into its market performance. Meanwhile, competition in the African music streaming market continues to grow, with other platforms like Boomplay recently securing a distribution agreement with YG Entertainment.

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