African streaming service Mdundo has published its latest annual report, with new stats on how its business is growing.
At the end of June 2023, Mdundo had 26.6 million monthly active users, up from 20.3 million a year before. The company’s annual revenues grew by 74% to DKK 12.6m ($1.79m at current exchange rates).
Within that, subscription revenues grew by 239% to DKK 4.4m, and are now 35% of Mdundo’s total revenues. That’s up from 18% the previous year.
Nigeria, Kenya, Tanzania, Ghana and South Africa are its…
