Music service plartform mdundo .com marked ten years of service and operation on September 22,2022 in a party held at the Wood Avenue Plaza. The event was graced by music industry stakeholders, artists ,the media ,Performers Rights Society of Kenya among other guests.
According to a report published by the mdundo.com ,the plartform has over the ten years offered music services to more than 100000 artists.
When the plartform was launched back in 2012,it used to sell music on scratch card vouchers in local shops but later on got funded by advertising sales hence becoming a free service.The first advertisers of mudundo.com were coca cola, Microsoft and Airtel but today the plartform has attracted many Pan- African FMCG brands and banks across the African continent.
Mdundo co-founder and Chief Executive Officer Martin Nielson stated that the company has grown over the decade with it’s key achievement being that it has expanded to other regions across africa.`This is an exciting milestone for mdundo.Our plartform currently has 20.3 million active users across Africa with 4.9 M in Nigeria,3.7M in South Africa, 2.8M in Kenya and 2.4M in Tanzania. More than 100000 musicians have created an account on mdundo.com.The accounts allow the artists to manage and control ther catalog and withdraw earned royalties. We have made 100000000 payouts to African Rights holders over the past decade.’ Said Martin.
He added that Mdundo has made both partnerships with other record labels and agreements with global record labels.
`We have also been able to partner with leading African record labels such as Marvin records, Africori, MAD, emPawa, Slide Digital, zeze Africa ,Tamasha, CCA,Lynx,Black market records and Kings Music. We have licensing agreements with leading global record labels such as Warner Music group, Universal Music and believe Digital.’ Martin said.
The company was in September 2020 listed on the Nasdaq First North stock exchange in Copenhagen and is aiming to get 50m monthly active users as well as a positive EBITDA (earnings before taxes, depreciation and amortization) by 2025.