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    MDUNDO   DK0061286101

MDUNDO.COM A/S

(MDUNDO)
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Mdundo com A/S : announces partnership with Airtel Nigeria, a leading telecom provider with 40 million subscribers

06/04/2021 | 03:11am EDT

Mdundo and Airtel have announced a partnership in Nigeria, Africa’s biggest country, targeting Airtel’s 40 million subscribers in the country. The partners are launching a music bundle available to Airtel’s subscribers, the music bundle will give access to Mdundo’s premium service as well as exclusively curated music mixes only available for subscribing customers. Mdundo is a leading pan-African music service and has 7.1 million monthly active users across Africa. Airtel is a leading pan-African telecommunication company active in 14 African markets with more than 99 million mobile subscribers across Africa.

Company Announcement no 8-2021

Telecommunication partnerships across Africa is an important part of Mdundo’s growth and monetization strategy. The agreement with Airtel Nigeria is the 2nd telecommunication partnership agreement announced in 2021 by the company following the partnership with Vodacom in Tanzania with a total base of 15.5m subscribers.

Patrick Sambao, Head of Telco at Mdundo says “Mdundo is growing extremely fast in Nigeria and we’re therefore pleased to launch our first telco bundle in this market. Airtel has a clear and ambitious product team with a strong focus on delivering new and innovative solutions to the market aligned with Mdundo’s vision”.

Mdundo has introduced telco-partnerships as a new monetization strategy earlier this year and announced that this revenue stream within a few years is expected to account for 40% of the company’s revenue.

Outlook:Mdundo expects additionally 2-3 telecommunication partnership agreements before end of the calendar year 2021. This supports 1) Mdundo's mission to become the primary pan-African music platform and 2) to achieve a larger share of paying users over time. The partnerships are expected to be the proof of concept to develop further agreements within Africa.

Airtel:Airtel Nigeria is a part of Airtel Africa which is listed on the London Stock Exchange. Airtel Africa is majority owned by the Indian communication services company Bharti Airtel. Bharti Airtel is the second largest mobile network operator in the world with over 450m subscribers across 18 markets.

Mdundo:Mdundo is a pan-African leading music service with 7.1m monthly active users, the company works directly with 100,000 African artists and offers a catalogue of 2m African and international songs. African artists can manage their profile through a Mdundo account providing the musicians with a high level of visibility into catalogue performance and earnings.

Contacts

  • Jesper Vesten Drescher, Bestyrelsesformand/Chairman of the board, +4523229900, ir@mdundo.com

About Mdundo.com A/S

Mdundo is a leading music service for Africa with millions of people streaming and downloading music from our app and website every month. We aim to provide Africa’s millions of internet users with easy access to music whilst contributing structure, legality, and income to the sector. More info: https://mdundo.com/

Mdundo.com A/S
Jagtvænget 2
2920 Charlottenlund
www.mdundo.com

Certified Adviser
Kapital Partner ApS
Jernbanegade 4
1608 København V
+45 89 88 78 46
www.kaptalpartner.dk

Attachments

  • Download announcement as PDF.pdf

© Ritzau Denmark, source Ritzau English Regulatory Releases

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Financials
Sales 2020 1,51 M 0,24 M 0,24 M
Net income 2020 -3,76 M -0,59 M -0,59 M
Net cash 2020 1,58 M 0,25 M 0,25 M
P/E ratio 2020 -
Yield 2020 -
Capitalization 71,6 M 11,3 M 11,3 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees 11
Free-Float 64,8%
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Managers and Directors
Martin Møller Nielsen Chief Executive Officer & Director
Jesper Vesten Drescher Chairman
Jakob Ellehauge Sode Director
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