Anghami receives additional $5 million investment from SRMG Ventures
Summary
This rapid growth, further highlighted by the rising prominence of Arab stars and local talent, coupled with the strategic presence of international labels including Warner, Universal, and Sony, is cementing MENAs position as a pivotal player in the global music landscape.Anghamis breadth of data and its leading distribution capabilities present compelling collaboration opportunities with SRMG. Billboard Arabia, the latest addition to SRMGs media portfolio, will introduce several charts using data from the leading digital streaming platforms including Anghami to highlight the artists and songs driving the global and regional music industry. These opportunities are also demonstrative of our strategy and commitment to support and develop the media ecosystem, act as a catalyst for further growth and enhancement of SRMGs offerings and services. Today, Anghami has been able to secure one of the largest user bases in audio streaming in the region, and has developed an impressive platform with extensive technological capabilities a testament to the leadership of founders Elie Habib and Eddy Maroun. This partnership will propel regional artists to greater heights, expand their global reach, and create new touchpoints for our users and artists alike.SRMG Ventures investment in Anghami aligns with the Groups strategy to invest in businesses and areas of commercial growth, focusing on media creators, immersive and interactive entertainment, and digital media platforms and enablers that are at the forefront of technological and creative innovation.