NASDAQ:ANGH

Anghami Reports 17% Subscriber Growth in Preliminary Unaudited 2023 Q3 Results, with Transformative Strategic Investments from OSN Group and SRMG Ventures

Retrieved on: 
Tuesday, December 26, 2023

ABU DHABI, UAE, Dec. 26, 2023 /PRNewswire/ -- Anghami Inc. (NASDAQ: ANGH) the leading music and entertainment streaming platform in the Middle East and Africa region (MENA), reported today its preliminary results for the third quarter of 2023, the 9-month period ending September 30, 2023, highlighting significant growth, cost reductions and strategic developments.

Key Points: 
  • Anghami signed a milestone transaction in which OSN Group will contribute its video streaming platform (OSN+) and will invest up to $50 million in cash in Anghami:.
  • Amr Diab's highly anticipated "Makanak" album to debut exclusively on Anghami on December 28, 2023, accompanied by a Live Concert Tour.
  • On August 7, 2023, Anghami introduced a new subscription plan, Anghami Gold, its highest subscription tier to date.
  • The strategic investments from OSN Group and SRMG are poised to significantly accelerate Anghami's expansion in high ARPU markets within the GCC, where OSN Group and SRMG have a strong foothold.

Anghami Reports 17% Subscriber Growth in Preliminary Unaudited 2023 Q3 Results, with Transformative Strategic Investments from OSN Group and SRMG Ventures

Retrieved on: 
Tuesday, December 26, 2023

ABU DHABI, UAE, Dec. 26, 2023 /PRNewswire/ -- Anghami Inc. (NASDAQ: ANGH) the leading music and entertainment streaming platform in the Middle East and Africa region (MENA), reported today its preliminary results for the third quarter of 2023, the 9-month period ending September 30, 2023, highlighting significant growth, cost reductions and strategic developments.

Key Points: 
  • Anghami signed a milestone transaction in which OSN Group will contribute its video streaming platform (OSN+) and will invest up to $50 million in cash in Anghami:.
  • Amr Diab's highly anticipated "Makanak" album to debut exclusively on Anghami on December 28, 2023, accompanied by a Live Concert Tour.
  • On August 7, 2023, Anghami introduced a new subscription plan, Anghami Gold, its highest subscription tier to date.
  • The strategic investments from OSN Group and SRMG are poised to significantly accelerate Anghami's expansion in high ARPU markets within the GCC, where OSN Group and SRMG have a strong foothold.

OSN+ and Anghami Sign Landmark Transaction Set to Transform MENA Entertainment

Retrieved on: 
Tuesday, November 21, 2023

ABU DHABI, UAE, Nov. 21, 2023 /PRNewswire/ -- In a milestone transaction set to reshape the MENA media and entertainment landscape, OSN+, the region's leading streaming platform for premium content and Anghami Inc. (NASDAQ: ANGH) ("Anghami"), the leading music and entertainment streaming platform in the Middle East and North Africa have announced a deal that will combine their businesses. A first of its kind in the region, the combination of the two local home-grown brands will offer consumers unprecedented digital aggregation of the best and latest in premium movies, TV shows, music, podcasts and more while providing a rich and seamless user experience.

Key Points: 
  • Elie Habib, co-founder of Anghami and set to be the CEO of the combined business commented: "Joining forces with OSN+ is a leap in Anghami's journey to reinvent entertainment in the Arab World.
  • Anghami intends to maintain the listing of its ordinary shares on the Nasdaq Stock Market following the closing of the transaction.
  • The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions and regulatory approvals.
  • Following the closing of the transaction, OSN Group will own a majority stake in Anghami Inc.

OSN+ and Anghami Sign Landmark Transaction Set to Transform MENA Entertainment

Retrieved on: 
Tuesday, November 21, 2023

ABU DHABI, UAE, Nov. 21, 2023 /PRNewswire/ -- In a milestone transaction set to reshape the MENA media and entertainment landscape, OSN+, the region's leading streaming platform for premium content and Anghami Inc. (NASDAQ: ANGH) ("Anghami"), the leading music and entertainment streaming platform in the Middle East and North Africa have announced a deal that will combine their businesses. A first of its kind in the region, the combination of the two local home-grown brands will offer consumers unprecedented digital aggregation of the best and latest in premium movies, TV shows, music, podcasts and more while providing a rich and seamless user experience.

Key Points: 
  • Elie Habib, co-founder of Anghami and set to be the CEO of the combined business commented: "Joining forces with OSN+ is a leap in Anghami's journey to reinvent entertainment in the Arab World.
  • Anghami intends to maintain the listing of its ordinary shares on the Nasdaq Stock Market following the closing of the transaction.
  • The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions and regulatory approvals.
  • Following the closing of the transaction, OSN Group will own a majority stake in Anghami Inc.

Anghami Files 2022 Annual Report With 37% Revenue Growth & Announces Q1 2023 Results With 60% Improvement in EBITDA

Retrieved on: 
Wednesday, May 17, 2023

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20230517005484/en/
    ANGHAMI FILES 2022 ANNUAL REPORT, WITH 37% REVENUE GROWTH.
  • ANNOUNCES Q1 2023 RESULTS: EXCEPTIONAL EFFICIENCY WITH 60% EBITDA IMPROVEMENT, 43% GROSS PROFIT GROWTH, 6% REVENUE GROWTH COMPARED TO Q1 2022 (Graphic: AETOSWire)
    Despite facing currency-related challenges in Egypt and Lebanon, Anghami successfully achieved a Q1 2023 unaudited revenue of $10.2 million, representing a 6% increase compared to Q1 2022.
  • Revenue from the advertisements segment also grew 10% in Q1 2023 compared to Q1 2022, a 32% increase when Q1 2022 advertisements revenue is adjusted for non-cash barter revenue.
  • Building on Q1 2023’s strong performance, the momentum continues in April 2023 which already shows record growth in revenue in both Subscriptions and Advertisements segments."

Anghami Reports 35.6% Revenue Growth in Preliminary Unaudited 2022 Results, with Focus on Continued Efficiency and Profitability for 2023

Retrieved on: 
Tuesday, March 7, 2023

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20230307005846/en/
    Anghami Reports 35.6% Revenue Growth in Preliminary Unaudited 2022 Results, with Focus on Continued Efficiency and Profitability for 2023 (Graphic: AETOSWire)
    Anghami recorded a robust financial performance in 2022, with total revenue of $48.1 million, reflecting an increase of 35.6% compared to 2021, despite an unfavorable impact of foreign currency exchange rates.
  • Anghami also experienced a growth in its total paying subscribers, reaching 1.52 million subscribers, representing a 21% increase year-on-year.
  • Anghami's focus on efficiency and profitability in the second half of 2022 resulted in a significant improvement in gross margin across all business segments.
  • Anghami aims to achieve profitability in 2023 by building on the momentum of efficiency, as reflected in its improvement in gross margins.

Anghami Lab Opens in Boulevard Riyadh City, Bringing a Whole New Experience to the City’s Buzzing Music and Social Scene

Retrieved on: 
Monday, November 21, 2022

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20221121005525/en/
    Anghami Lab Opens in Boulevard Riyadh City, Bringing a Whole New Experience to the Citys Buzzing Music and Social Scene (Photo: Business Wire)
    A rooftop with a twist, Anghami Lab is a partnership between Anghami and Addmind, the regions market leader in hospitality.
  • We hope our first-of-its-kind entertainment destination mirrors the unique experience Anghami fans get from the app.
  • We believe Anghami Lab is a true reflection of the exciting, vibrant, and modern face of Riyadh.
  • Anghami cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made.

Anghami Reports Preliminary Q3 2022 Unaudited Results With 29% Y-O-Y Revenue Growth and Gross Profit Increase

Retrieved on: 
Tuesday, November 15, 2022

Anghami Inc. (NASDAQ: ANGH) (the Company or Anghami), the leading music and entertainment streaming platform in the Middle East and Africa region (MENA), reported today its preliminary unaudited results for Q3 2022 ended September 30, 2022.

Key Points: 
  • Anghami Inc. (NASDAQ: ANGH) (the Company or Anghami), the leading music and entertainment streaming platform in the Middle East and Africa region (MENA), reported today its preliminary unaudited results for Q3 2022 ended September 30, 2022.
  • View the full release here: https://www.businesswire.com/news/home/20221115005925/en/
    ANGHAMI REPORTS PRELIMINARY Q3 2022 UNAUDITED RESULTS WITH 29% Y-O-Y REVENUE GROWTH AND GROSS PROFIT INCREASE (Graphic: Business Wire)
    Subscription revenue in Q3 2022 increased 27% quarter-over-quarter, which is in line with Anghami's total revenue growth, which also increased 29% year-over-year from $24.5 million to $31.7 million.
  • "I am proud to report that we grew our Q3 2022 gross profit by 13% quarter-over-quarter, driven by an 8% increase in ARPU.
  • Sustained focus on profitability required tough measures such as a 22% reduction in headcount and 19% savings in cloud computing costs - despite a 15% increase in music traffic in Q3 2022.

Anghami Reports Strong Preliminary H1 2022 Results With 29% Y-O-Y Revenue and 41% Y-O-Y Monthly Subscriber Growth

Retrieved on: 
Monday, August 15, 2022

Excluding these foreign currency effects and applying constant exchange rates year-over-year, revenue would have increased by more than 50% year-over-year.

Key Points: 
  • Excluding these foreign currency effects and applying constant exchange rates year-over-year, revenue would have increased by more than 50% year-over-year.
  • On February 24, 2022, Anghami announced an exclusive partnership with Egyptian artist Amr Diab, the global megastar of Arabic music and the most streamed artist on the Anghami platform, with close to 1.2 billion streams.
  • This exclusive partnership brings the legendary singers entire audio and video catalog, as well as future releases, exclusively to the Anghami platform.
  • Eddy Maroun, Co-founder, and Chief Executive Officer of Anghami, said, "The first half results should lead to a record year for Anghami in 2022.

Anghami Acquires Live Events and Concerts Company Spotlight, as It Expands Into Offline and Virtual Entertainment

Retrieved on: 
Thursday, June 30, 2022

Anghami Inc. (Anghami) (NASDAQ: ANGH), the leading music and entertainment streaming platform in the Middle East and North Africa (MENA), has announced the acquisition of Spotlight Events, an events and concert company specialized in managing and executing live events and concerts in the region.

Key Points: 
  • Anghami Inc. (Anghami) (NASDAQ: ANGH), the leading music and entertainment streaming platform in the Middle East and North Africa (MENA), has announced the acquisition of Spotlight Events, an events and concert company specialized in managing and executing live events and concerts in the region.
  • View the full release here: https://www.businesswire.com/news/home/20220630005624/en/
    Anghami Acquires Live Events and Concerts Company Spotlight, as It Expands Into Offline and Virtual Entertainment (Photo: Business Wire)
    The partnership will see Spotlight Events become Anghami's arm for live events and concerts, including offline activities and activations to further expand Anghami's footprint in the music and entertainment ecosystem while unlocking synergies and opportunities between the physical and digital worlds.
  • Maher has built a great business on solid economics and has proven that live concerts and events are a scalable and profitable business.
  • To learn more about Anghami, please visit: https://anghami.com
    Started in December 2005 as a fully integrated Events Management company.