African streaming platform Mdundo has reached 39.2 million monthly active users (MAUs) as of March 2025—a 14% year-over-year increase—driven by its first expansion into Francophone Africa through a partnership with MTN Cameroon.
Key Growth Drivers
- New Telecom Deals: The MTN Cameroon partnership gives Mdundo access to 13 million potential users, marking its entry into Francophone markets. The company has now secured three new telecom deals this fiscal year, exceeding its annual target.
- Expanded Carrier Network: Mdundo now partners with eight telecom providers across Africa, including MTN Ghana, Vodacom Tanzania, and Safaricom Kenya, reaching over 352 million potential subscribers.
- Payment Diversification: The platform is rolling out card payments for international users and integrating direct billing for web subscriptions. A new deal with digital wallet Minipay also allows premium access via the Opera Mini browser.
Challenges & Strategic Shifts
Despite growth, Mdundo lowered its revenue forecast to $1.7-1.8M due to payment delays from its two largest telecom partners, which contributed 75% of 2024 subscription revenue.
- The company has launched a strategic review with Deloitte to explore options, including ownership changes, investments, or consolidation.
- Advertising revenue is expected to rebound in early 2025 after a slump in late 2024, driven by higher-value campaigns.
Future Outlook
Mdundo remains on track to hit 40M MAUs by June 2025 and forecasts a reduced EBITDA loss of $607-760k, improving from the previous year. Its focus on hyper-local genres (Fuji, Highlife, Singeli, etc.) continues to differentiate it in Africa’s competitive streaming market.
