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Anghami has posted its preliminary outcomes for the primary half of 2022 (ended June 30, 2022).
The MENA-focused music streaming platform stories that its whole income grew 29% year-over-year to $21.1 million.
The platform’s variety of Month-to-month Paying Subscribers, in the meantime, elevated 41% YoY to 1.28 million subscribers.
Based on Eddy Maroun, Anghami’s Co-founder, and CEO, the corporate’s first half outcomes “ought to result in a file 12 months for Anghami in 2022”.
Anghami reports that its subscriber development was primarily on account of “greater conversion charges of advertising-supported customers to paying subscribers, in addition to the next variety of Energetic Customers”.
The app’s energetic person base elevated 46% year-over-year to 19.5 million customers in H1, leading to what Anghami says was elevated promoting and subscription revenues. Anghami defines ‘Energetic Customers’ as customers who used its service no less than as soon as over a rolling three-month interval.
Anghami listed on the NASDAQ in New York in February by way of a merger with a publicly-traded particular goal acquisition firm.
The music streaming firm entered right into a definitive merger settlement in March 2021, which valued Anghami at $220 million.
Anghami says that “Arabic content material is vital” to its “future development”. The corporate notes that it has introduced a number of partnerships in current months, which it says are geared toward bolstering its place within the MENA area.
In February, Anghami introduced an unique partnership with Egyptian artist and Arabic music megastar Amr Diab, probably the most streamed artist on the Anghami platform, with near 1.2 billion streams. This unique partnership introduced the singer’s total audio and video catalog, in addition to future releases, completely to Anghami.
In April, Anghami inked a strategic partnership with Rotana Music, claimed to be the biggest filewithin the Center East.
In the meantime in June, Anghami renewed a advertising and marketing cope with Saudi Arabia-based leisure firm, MBC Group. Beneath this strategic partnership, Anghami shall be featured throughout MBC’s programming within the area, giving Anghami entry to airtime throughout a number of leisure exhibits reminiscent of The Voice and Arab Idol, in addition to MBC’s TV channels, radio stations, all of MBC’s main social media channels, and MBC’s Shahid platform, which is claimed to be the world’s main Arabic video streaming platform.
Elsewhere, in July, Anghami acquired Highlight Occasions, a reside occasions firm that focuses on creating and managing reside occasions and concert events within the MENA area.
Earlier this month, Anghami partnered with WAJEEZ, an Arabic subscription service to greater than 3,500 audiobook summaries of Arabic books and translated worldwide bestsellers.
Anghami stories that Arabic music streams accounted for almost 60% of its whole music streams in H1, marking a 20% YoY improve.
“The primary half outcomes ought to result in a file 12 months for Anghami in 2022.”
Eddy Maroun, Anghami
Eddy Maroun, Co-founder, and Chief Govt Officer of Anghami, mentioned: “The primary half outcomes ought to result in a file 12 months for Anghami in 2022.
“We proceed to take heed to the wants of our loyal customers by increasing our native Arabic content material and bettering our technology-enabled digital streaming platform.
“These are the important thing drivers that can keep Anghami’s management place within the Arabic music streaming market and make Anghami one of many main digital leisure platforms within the MENA area.”
“We’re assured that this optimistic trajectory will proceed by way of 2022 as we profit from our rising partnerships and choices.”
F. Jacob Cherian, Anghami
F. Jacob Cherian, Co-Chief Govt Officer of Anghami, mentioned “Anghami stays dedicated to launching extra revolutionary choices, increasing its international attain and delivering worth to clients by way of best-in-class content material and revolutionary new options.
“We’re assured that this optimistic trajectory will proceed by way of 2022 as we profit from our rising partnerships and choices.”Music Enterprise Worldwide