African digital music platform Mdundo, recorded 20 million users at the end of Q4, up from 16.3 million in Q3.
The upward growth represents a 22 per cent attributed to increased demand for an easy-to-use music service and expansion into new territories in Africa.
“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.
“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.
“The company has previously announced to the market that the number of monthly active users is expected to increase to 18 million. in 2022. This is still the case.” it emphasised during its half-year report for the period 1st July to 31st December 2021.
At the end of the period in December 2021, the Company had 13.3m, unique active users, up 90% since December 2020.
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