East African artistes face pay cut in Mdundo deals
Martin Moeller Nielsen, CEO and Co-founder of Mdundo gives a Press brief on the company’s financial performance and outlook at Pine Tree Plaza in Nairobi on June 27, 2023.
East African artistes with accounts on the Kenyan-founded music streamer Mdundo are set to receive lower royalty payouts as the platform adjusts its terms of engagement. The firm is aiming for profitability following a revenue decline over the past six months.
Founded in September 2012 and listed on the Danish Stock Exchange, Mdundo operates in 15 African countries and currently hosts over 300,000 artistes. Nigeria is its largest market, followed by Tanzania and Kenya. The African-focused service is designed for low-end smartphones and unstable internet connections, accessible via its website and Android app.
