Mdundo, a Kenyan music distribution startup, is gearing up to pay out a record-breaking sum of $1.5 million in royalties to artists for the 2023/24 period.
The company aims to empower African musicians and ensure fair compensation in the music industry.
Since its launch in Kenya in 2013, Mdundo has become a top music service across Africa, making it easy and legal for people to access music.
After listing its shares on the Nasdaq First North Growth Market Denmark in 2020, the platform experienced a surge in popularity, with 30.8 million people tuning in each month to listen to music from over 172,000 content providers.
Around 156,000 artists from Kenya, Tanzania, Nigeria, South Africa, Uganda, and Ghana are expected to benefit from this unprecedented payout, which ranges between $1.2 million and $1.5 million.
Wanjiku Koinange, head of music and licensing at Mdundo, expressed the company’s commitment to supporting African music. She highlighted their Artist Royalty Payment Programme as evidence of their dedication to empowering artists and ensuring they receive the recognition and earnings they deserve.
In addition to this payout, Mdundo recently teamed up with Safaricom, Kenya’s leading telecommunications company, to launch a subscription service exclusively for Safaricom customers.
This collaboration aims to increase the monetization of music for artists, providing them with a steady income stream and helping to sustain their music careers.
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