Dubai: Arabic music streaming portal Anghami recorded 29% growth in the first half of 2022 with revenue of $21.1 million. The number of active users is up 46% at 19.5 million and, most importantly, the number of paid monthly subscribers is up 41% at 1.28 million.
The Abu Dhabi-based entity is listed on Nasdaq New York after a Special Purpose Acquisition Company (SPAC) deal last year. “The first half results should lead to a record year for Anghami in 2022,” said Eddy Maroun, co-founder and CEO. “We continue to listen to the needs of our loyal users by expanding our local Arabic content and improving our technology-based digital streaming platform.
“These are the key drivers that will maintain Anghami’s leading position in the Arabic music streaming market and establish Anghami as one of the leading digital entertainment platforms in the MENA region.”
Anghami has done a lot to keep fans of Arabic music informed. Arabic music streams now account for around 60% of total music streams, a 20% year-over-year increase. That’s not all.
- Anghami has an exclusive partnership with Egyptian artist Amr Diab, the most streamed artist on the Anghami platform, with nearly 1.2 billion. This exclusive partnership brings the legendary singer’s entire audio and video catalog, plus future releases, exclusively to Anghami.
- In April, Anghami announced a strategic partnership with Rotana Music, the leading music label in the Arab world.
- In June, Anghami announced that it had renewed its marketing collaboration with Saudi Arabia-based MBC Group (“MBC”), the largest media company in the MENA region. Anghami will be featured on MBC’s programming in the region, providing “access to airtime on several top entertainment shows such as The Voice and Arab Idol, as well as TV and radio stations across the region. MBC, All Major MBC Social Media Channels and MBC’s Shahid. platform, the Arabic video streaming platform.
- Anghami also acquired Spotlight Events, a live events company. With a pipeline of over 10 gigs this year, this could be a “record year for Spotlight.”
- There is also a partnership with Wajeez, the leading Arabic subscription service to read and listen to over 3,500 audiobook summaries of translated Arabic books and international bestsellers. Abbreviated Arabic content from Wajeez will be available on Anghami as 15-minute audiobook summaries.
According to Jacob Cherian, co-CEO of Anghami, “We are confident that this positive trajectory will continue through 2022, as we benefit from our growing partnerships and offerings.”