African streaming service Mdundo, now boasting 36 million monthly active users, projects to pay over $1 million in royalties by 2025. The Nairobi-based platform has shown impressive growth in recent years, with revenue increasing from $295,827 in 2021 to $1.92 million in 2023.

Currently serving 156,000 music professionals, Mdundo expects to distribute between $1.1 million and $1.3 million in artist payments next year. While these figures may seem modest compared to global streaming giants, they represent significant income for local artists and contribute to the region's musical ecosystem.

The platform operates across ten African countries, including Kenya, Tanzania, Uganda, Nigeria, Ghana, Zambia, Zimbabwe, Mozambique, Angola, and Rwanda. Mdundo's strategy focuses on "hyperlocal markets," targeting specific cultural segments such as Hausa media in Nigeria and Kalenjin and Kamba music in Kenya and Uganda.

According to CEO Martin Nielsen, this hyperlocal approach serves three key purposes:

• Enhances appeal to local audiences
• Increases visibility for genre-specific artists
• Attracts regional advertisers

The company's stock (CPH: MDUNDO) recently saw a 5.8% increase in value. Mdundo plans to release its next annual report on October 7th, providing further insights into its market position and growth strategy.

In the competitive African music streaming landscape, other players are also making strategic moves, such as Boomplay's recent distribution agreement with YG Entertainment, signaling continued growth in the region's digital music market.

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