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Digital Economy

Africa’s streaming service Mdundo claimed 21.5m active users at the end of Q3 2022

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Mdundo, the music streaming service covering Africa, has claimed 21.5 million active users (MAUs) at the end of September 2022, a 107% growth rate year-on-year. A year before, the platform had 10.4 million MAUs.

The largest country in terms of number of monthly active users was Nigeria with over 6.5 million monthly users, followed by Kenya, South Africa and Tanzania. Most recently, Mdundo Premium launched in Ghana, in partnership with the country's leading telecommunication provider, MTN.

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Emmanuel is a Washington, DC-based freelance journalist, blogger and media consultant, specialising in the entertainment business and cultural trends. He was the US editor for British music industry trade publication Music Week. Previously, he was the editor of Impact, a magazine for the music publishing community (2007-2009), the global editor of US trade publication Billboard (2003-2006), and the editor in chief of Billboard’s sister publication Music & Media (1997-2003).

Digital Economy

Licensing marketplace Wavetick goes live

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Following a comprehensive Beta phase, online licensing marketplace Wavetick has launched its full platform described as a "creator-created, creator-friendly platform" providing "super-simplified licensing capabilities" for buying and selling music for production (Tracks) and short form musical components (Sounds).

The UK-based company, founded in 2023 by music tech entrepreneur Sharooz Raoofi, operates with no upfront cost for users and enables licensors of music rights to receive instant pa...

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Creative Industries

Music deals — Week 9, 2024

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Here's a list of some of the main music deals announced in the past weeks:

Mavin’s Don Jazzy

Universal Music Group (UMG) has taken a majority share in Mavin Global, an independent music company from Nigeria. Terms of the agreement were not disclosed. The deal, which remains subject to regulatory approval, is expected to close by the end of Q3 2024. The Lagos, Nigeria-based label was founded in 2012 by artist, producer, music executive and entrepreneur Michael Collins Ajereh (aka Don Jazzy)...

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Creative Industries

Key figures — Week 9, 2024

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€11.108 billion

That’s Universal Music Group's revenue for 2023, up 7.4% year-over-year (or 11.1% in constant currency). The company's adjusted EBITDA reached €2.37bn, up 11.0% year-over-year, or 14.6% in constant currency, and net profit was €1.26bn.

€9 billion

That’s how much Spotify has paid rights holders in 2023, according to the music streaming platform's latest Loud&Clear report. In 2023, indies generated €4.5bn on the platform.

$740.8 million

That’s how much creators ...

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