Music Business News: Kenya

Mdundo is listed on Nasdaq First North Growth Market in Copenhagen

The expansion includes new partnerships in Kenya, Barbados, Panama, Paraguay, and several European territories.

The expansion aims to provide educational resources, advocate for intellectual property rights, and celebrate the musical heritage of these regions

The Nigerian naira fell 38% in Q1, putting pressure of Mdundo's revenue even as user growth continued unabated

The 11 markets include the UK, Germany, Italy, the Netherlands, Poland, Sweden, Brazil, Colombia, Philippines, Indonesia, and Kenya.

The company reported a steep drop in ad revenue, but large growth in paid subscribers

Mdundo also reported a 239% YoY jump in revenue from paid subscriptions

Mdundo said it expects to hit 35 million MAUs in FY 2023-2024