Pan-African music streaming service, Mdundo, has announced a 22 percent growth in its user base in the last quarter of 2021.
The platform recorded 20 million users at the end of Q4, up from 16.3 million, in Q3, driven by demand for an easy-to-use music service and expansion into new territories in Africa.
The company further attributes sustained growth to strong partnerships with leading telecommunications firms that has seen the service increase its audience in the mass, mid-income market, especially among the 18-24 age bracket.
“We have noted increased demand for music served online mainly among the youthful consumer segment, an audience that is actively looking for new products and solutions to support their lifestyle,” says Rachel Karanu, head of Brand Partnerships at Mdundo said.
The most notable growth was recorded in Tanzania, Nigeria and Kenya powered by the rising popularity of the platform especially among the 18-24 age bracket.
The total Q4 unique users in the three markets now stand at 12.1 million; Tanzania (3.7 million), Kenya (4 million) and Nigeria (4.4 million).
Other major markets for Mdundo include Uganda (1.8 million) and Ghana (1.6 million). Mdundo currently boasts over 13.3 million users monthly across the continent.
Mdundo is eyeing continued growth through innovations aimed at attracting new users even as consumer markets recover from the prolonged impact of the Covid-19 crisis.
“In 2022, we forecast sustained growth as we innovate not only around acquiring new users, but also offering an effective platform for our advertising partners, "Karanu said.
She added that Mdundo is firmly focused on expansion within the African continent.
The platform works with over 100,000 artists from across the continent as well as some of the top recording labels globally.
“We believe in a fair and open music industry on the continent, where African artists are remunerated for their great music and fans can listen to all the music they want at an affordable price,”Karanu said.
According to a 2017 survey by PwC, 38 per cent of Africa’s 300 million smartphone users listen to music on their phones monthly.
Growth in online commerce is expected to drive increased consumption of music, movies and other entertainment solutions using smartphones.
Mdundo listed its shares on the Nasdaq First North Growth Market Denmark in September 2020 raising $6.4 million to fund expansion across Africa.