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.
In response to Eddy Maroun, Anghami’s Co-founder, and CEO, the corporate’s first half outcomes “ought to result in a document yr for Anghami in 2022”.
Anghami stories that its subscriber progress was primarily on account of “larger conversion charges of advertising-supported customers to paying subscribers, in addition to the next variety of Lively Customers”.
The app’s energetic consumer 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 ‘Lively Customers’ as customers who used its service at the least 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.
Anghami says that “Arabic content material is vital” to its “future progress”. The corporate notes that it has introduced a number of partnerships in latest 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, essentially 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 most important document label within 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 reveals 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 stay occasions firm that focuses on creating and managing stay occasions and live shows 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 practically 60% of its whole music streams in H1, marking a 20% YoY improve.
“The primary half outcomes ought to result in a document yr 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 document yr for Anghami in 2022.
“We proceed to take heed to the wants of our loyal customers by increasing our native Arabic content material and enhancing our technology-enabled digital streaming platform.
“These are the important thing drivers that may 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 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 progressive choices, increasing its world attain and delivering worth to prospects by best-in-class content material and progressive new options.
“We’re assured that this optimistic trajectory will proceed by 2022 as we profit from our rising partnerships and choices.”Music Enterprise Worldwide