Paying subscribers of music streaming platform Anghami rose 41 percent to 1.28 million in the first six months of 2022, compared to the same period last year, it said in a statement.
The number of active users on the platform jumped 46 percent to 19.5 million, the Abu Dhabi company said. This growth pushed Anghami’s six-month revenues to $21.1 million, or a 29 percent rise on an annual basis.
“The first half results should lead to a record year for Anghami in 2022,” its chief executive officer Eddy Maroun said.
The streaming platform, which is the Arab world’s rival to Spotify, recently invested in expanding its local Arabic content, which Maroun said, also helped in achieving their half-year results.
It earlier announced an exclusive partnership with Egyptian superstar Amr Diab, who is the most listened to artist on the app with 1.2 billion streams.
“These are the key drivers that will maintain Anghami’s leadership position in the Arabic music streaming market and make Anghami one of the leading digital entertainment platforms in the MENA region,” he explained.
Anghami also signed deals with Rotana Music, Saudi Arabia’s MBC Group, as well as Wajeez, which is an audiobook subscription service featuring Arabic content.
The music platform also recently expressed its desire to venture into live entertainment, acquiring Dubai-based Spotlight Events to stage top-bill concerts across the region.
“We are confident that this positive trajectory will continue through 2022 as we benefit from our growing partnerships and offerings,” the Anghami chief said.
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