RIYADH: A collaboration with Egyptian artist Amr Diab, who has over 1.2 billion streams on the platform, pushed Abu Dhabi’s streaming platform Anghami Inc. to record higher revenues and user growth for the first half of the year.
The Nasdaq-listed platform reported a 29 percent jump in revenues to $21.1 million in the first six months of 2022, while its first-half active users jumped 46 percent to reach 19.5 million, it said in a statement.
Its monthly paying subscribers increased 41 percent year-on-year, driven by improved customer retention.
Anghami began the year by partnering with Rotana Music, one of Arab music’s premier labels, and with Saudi media company MBC Group, one of the Middle East and North Africa region’s largest.
On July 5, Anghami completed the acquisition of Spotlight Events, which creates and manages events and concerts in the MENA, further strengthening its position.
