African streaming service Mdundo has reached 30.8 million monthly active users (MAUs) in the second half of 2023, marking a 16% increase from June 2023. The company is working towards its goal of 50 million MAUs by 2025.

Key Performance Highlights (July-December 2023):

• Revenue: $824,000 (5.7M Danish krone), down 12% YoY
• Subscription revenue: $450,000 (3.1M DKK), up 48% YoY
• Advertising revenue: Decreased 41% YoY due to issues with Ad-Dynamo partnership
• EBITDA: Improved 21% YoY to -$477,180 (-3.3M DKK)
• Cash burn: $303,600 (2.1M DKK)
• Cash balance: $1.94M (13.4M DKK) as of December 31st

Business Model:

• Free tier: Users can download tracks supported by advertising revenue
• Premium tier: DJ mixes available through telecom partners in Tanzania, Nigeria, Ghana, and South Africa

2024 Fiscal Year Forecast:

• Revenue: $2.02M - $2.46M (14M - 17M DKK)
• EBITDA: -$939,900 to -$1.08M (-6.5M to -7.5M DKK)

Despite the revenue decline, Mdundo's significant growth in subscription revenue and user base demonstrates the platform's expanding presence in the African streaming market. The company remains focused on achieving EBITDA positivity by 2025 while continuing to grow its user base across the continent.

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