Anghami saw solid revenue growth in the first half of 2022
Image Credit: Anghami
Middle Eastern music streaming service Anghami announced a revenue increase for H1 2022, plus a growth in user numbers.
Good news from RouteNote partner Anghami. The music platform reported revenue growth for the first half of this year, with an increase of 29%.
Monthly subscribers also grew by 41% compared to 2021, as the number of paying users hit 1.28 million.
In addition, the streaming service announced that 60% of total streams on the platform are of Arabic music, which is up 20% from last year. The music service has stated it is focused particularly on Arabic content for future growth.
Eddy Maroun, Anghami co-founder and CEO, said: “The first half results should lead to a record year for Anghami in 2022. We continue to listen to the needs of our loyal users by expanding our local Arabic content and improving our technology-enabled digital streaming platform.
“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.”
So far in 2022 Anghami has made moves including investing in Spotlight Events, a company focused on broadcasting music concerts as live streams, and partnered exclusively with Amr Diab, the most-streamed artist on the platform, to onboard the Egyptian singer’s entire catalogue. Anghami also updated the app’s streaming algorithm to take into account older tracks that have had a resurgence on social media.
Did you know you can find RouteNote’s in house playlists on Anghami? The seven mixes feature some of the best music released through RouteNote distribution, in a host of different music genres.