Founded in 2012, Mdundo had 1.7 million international songs on its platform and 367,000 tracks uploaded by 122,000 African musicians. Artists listed on the platform get over 50% of the company's income.
In 2020, Mdundo listed its shares on the Nasdaq First North Growth Market Denmark following an oversubscribed pre-sale period that raised $6.4 million, in a bid to solidify its leading position in the pan-African music market.
The Kenyan-based company current has 4.9 million monthly users in Nigeria—its biggest market, followed by South Africa which has 3.7 million users. In Kenya, the user base has grown up to 110% since June 2020, Mdundo now has 2.8 million monthly active users in Kenya.
Mdundo is one of the leading online services within the East African country with 12% of Kenya’s 23 million internet customers using the service within the month. The growth is a result of continuously focusing on locally relevant service and content as well as strategic partnerships and the company expects it to continue towards our goal of 25 million by June 2023 and 50 million by June 2025.
Tanzania is its fourth biggest market with 2.4 million active users. In addition to the four biggest countries, the company has a strong user base in several other countries with over 100k monthly users including Uganda, Ethiopia, Ghana, Congo - Kinshasa, Zambia, Sudan, Cameroon, Angola, Zimbabwe, Mozambique, Rwanda, Côte d’Ivoire, South Sudan and Malawi.
Aside from its streaming channel, its advertising serving platform, The Mdundo Brand Lift Tool, has improved customer brand performance by an average of 8% across Kenya, Nigeria and Tanzania with the highest performing campaign reaching growth in an overall brand lift of 85%.
The Mdundo music service is primarily used by the mass-market audience across Africa with limited access to streaming services and social media apps. The music is free of charge but the customer is exposed to advertising by leading African brands.
"We have increased the average brand up-lift for our advertising clients by an average of 8%, with the most noticeable impact towards the end of the customer decision-making process impacting consideration, favorability and purchase intent by an average of 10%. It is extremely satisfying to know that the return on investment for our clients is directly related to our campaigns driving impact in addition to incremental reach across all key markets" Rachel Karanu, Head of Brand Partnerships at Mdundo, said.
The best performing campaigns in the past 12 months were Kenya Cane with an average “Uplift” of 85%, the best “Awareness” campaign was for Sportpesa Tanzania with 65%, Guinness Smooth had the highest performing “Consideration” campaign with 191% growth, Castle Lite Tanzania had the highest impact on “Favorability” with 114% growth and Captain Morgan impacted “Purchase Intent” the highest with 101%.
Ryan Majiwa Digital Media Lead East Africa, Saracen Media Limited, said that "the Mdundo platform offers our clients high-quality reach in the mass-market audience that is hard to reach as effectively for the cost through other marketing channels. In addition, their Brand Lift tool provides us partners with insights into the behaviour of our target customers, both on and off the platform because of how closely their audience mirrors the actual market allowing for effective campaigns."