Welcome to our dedicated page for Anghami Ordinary Shares news (Ticker: ANGH), a resource for investors and traders seeking the latest updates and insights on Anghami Ordinary Shares stock.
Anghami Inc. (NASDAQ: ANGH) is a leading digital music and entertainment technology platform in the Middle East and North Africa (MENA) region. Founded in 2012, Anghami was the first music-streaming platform to digitize MENA's rich music heritage, providing users with access to an extensive catalog of over 100 million songs, including licensed content from top Arabic labels, independent artists, and major international labels such as Universal, Sony, and Warner.
Anghami has grown to become a significant player in the MENA digital entertainment space, boasting over 120 million registered users and more than 2.5 million paying subscribers. Recent strategic developments have further solidified Anghami's market position. In a landmark deal with OSN Group, Anghami will merge its music streaming services with OSN+'s video content, creating the region's first integrated music and video streaming platform. This merger, supported by a $50 million cash investment from OSN Group, aims to provide a seamless user experience with AI-driven personalization and a comprehensive library of content, including 18,000 hours of premium video from studios like HBO, NBC Universal, and Paramount.
Financially, Anghami has shown robust growth. For the nine months ending September 30, 2023, the company reported an 8% increase in adjusted revenue, reaching $30 million, and improved its gross profit margin to 22%. Subscriber growth also saw a significant uptick, with a 17% year-over-year increase to 1.73 million as of Q3 2023. Anghami's focus on high-margin direct subscription channels and strategic cost reductions in technology and marketing have been key drivers of this success.
Anghami's partnerships extend beyond OSN Group. The company has secured investments from prominent media entities such as SRMG and expanded its long-term relationship with Rotana Music, the largest Arabic record label. Furthermore, Anghami has a strong presence in live events, exemplified by exclusive agreements with megastar Amr Diab, including the release of his anticipated album 'Makanak' and an associated concert tour.
Headquartered in Abu Dhabi, Anghami operates in 16 countries across MENA and has offices in Beirut, Dubai, Cairo, and Riyadh. The company's strategic focus on expanding its content library, optimizing operational efficiencies, and leveraging key partnerships ensures that it remains at the forefront of digital entertainment in the region.
Anghami Inc. (NASDAQ: ANGH) has secured a significant funding round from OSN Group of up to $55 million, with an initial $12 million investment through a convertible note program. This follows their strategic partnership from April 2024, which combined OSN+'s premium video streaming with Anghami's audio portfolio.
Key achievements include rebuilding the OSN+ platform, launching a 4K Premium Plan with Dolby features, and achieving 41% growth in video streaming subscribers between April and October 2024. The investment aims to expand content library, enhance user experience, and strengthen presence across the MENA region, focusing on AI-driven personalization and next-generation streaming technologies.
Anghami (NASDAQ: ANGH), the MENA region's leading multi-media streaming platform, reported significant growth in 2024. The company achieved an 18% increase in Average Revenue Per User (ARPU) on direct subscribers and a 28% surge in video streaming engagement during January-September 2024 compared to 2023. Technical innovations include AI recommendation engine improvements resulting in 20% higher engagement, and the implementation of DolbyVision and DolbyAtmos. The platform expanded its content offering with new premium shows and introduced Arabic dubbing for prestigious series. Strategic initiatives include a new ad-supported tier and partnerships with major regional telcos for 4K premium payment options.
OSN+, the leading streaming service in the MENA region, has partnered with castLabs to enhance content protection using the DRMtoday cloud digital rights management service. This collaboration comes as Anghami enters a new era of video streaming following its merger with OSN+. The partnership aims to safeguard OSN+'s extensive content library while ensuring uninterrupted access for users.
DRMtoday offers robust content protection, supporting major DRM technologies like Google Widevine, Apple FairPlay, and Microsoft PlayReady. Its cloud-based architecture will scale to meet increasing demands as OSN+ expands its user base. The flexible API allows for rapid integration with OSN+'s existing infrastructure, minimizing disruption and ensuring a smooth transition.
Anghami (NASDAQ: ANGH), the leading multi-media streaming platform in the MENA region, reported an 18.3% growth in its video streaming subscriber base following its transaction with OSN+. Key highlights include:
- 47% of new subscribers opted for the Premium 4K plan
- Strategic partnerships with Noon and Mobily KSA
- Exclusive content deal with Warner Bros. Discovery
- Implementation of AI-powered personalization
The company's growth strategy focuses on cross-selling initiatives, content expansion, and advanced recommendation algorithms. Anghami's CEO, Elie Habib, stated that the Anghami-OSN+ transaction has exceeded expectations, enhancing their ability to deliver premium entertainment across both music and video.
Anghami Inc. (NASDAQ: ANGH) filed its 2023 annual report and announced Q1 2024 results, highlighting an 18% growth in premium subscribers and significant margin improvement. The company achieved top-line improvements with 1.87 million premium subscribers by March 31, 2024, an 8% increase in total revenues, and a 6% improvement in gross margin. Operating loss decreased from $5.4 million to $2.7 million, showing progress towards profitability. Anghami completed a landmark transaction with OSN Group, acquired a cash investment of $38 million, and integrated video streaming services. Despite challenges in 2023, the company remains optimistic about revenue growth opportunities in 2024.
FAQ
What is the current stock price of Anghami Ordinary Shares (ANGH)?
What is the market cap of Anghami Ordinary Shares (ANGH)?
What is Anghami Inc.?
What was the recent major development involving Anghami?
How has Anghami performed financially in recent quarters?
What are some key partnerships Anghami has?
Who are Anghami’s target users?
Where is Anghami headquartered?
What is the user base of Anghami?
What exclusive features does Anghami offer?
What is the significance of the merger between Anghami and OSN+?
How does Anghami plan to maintain its market position?
