This is a growth of 74% from June 2021. The company announced earlier in June that it is aiming at 50m monthly active users as well as a positive EBITDA for the financial year ending June 2025.
In addition, the company is reporting that its advertising serving platform, The Mdundo Brand Lift Tool, has improved customer’s brand performance by an average of 8% across Kenya, Nigeria, and Tanzania with the highest performing campaign reaching growth in overall brand lift of 85%.
Mdundo is one of Africa’s leading music services, the company aims to provide Africa with easy and legal access to online entertainment by delivering locally relevant content, formats and channels to consumers in Africa as well as driving value per user through premium products and telecommunication partnerships.
High performance of advertising serving platform growing brands across Africa
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,” says Rachel Karanu, Head of Brand Partnerships, Mdundo.