Anghami Reports 18.3% Subscriber Growth and Strategic Milestones Following OSN+ Transaction

Rhea-AI Summary

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.

Positive

• 18.3% growth in video streaming subscriber base
• 47% of new subscribers opted for Premium 4K plan
• Strategic partnerships with Noon and Mobily KSA for expanded reach
• Exclusive multi-year agreement with Warner Bros. Discovery for premium content
• Implementation of AI-powered personalization leading to increased content diversity consumption

Negative

• None.

Financial Analyst

The 18.3% growth in Anghami's video streaming subscriber base is a strong indicator of the company's success following the OSN+ transaction. This growth, coupled with 47% of new subscribers opting for the Premium 4K plan, suggests a robust demand for high-quality content and potential for increased revenue per user.

The strategic partnerships with Noon and Mobily KSA are likely to drive further user acquisition and retention. The 30% conversion rate from free trials is particularly impressive, indicating effective marketing and content appeal. These initiatives, combined with the Warner Bros. Discovery content deal, position Anghami well for sustained growth in the competitive MENA streaming market.

Investors should monitor how these subscriber gains translate into revenue growth and profitability in upcoming financial reports. The focus on AI-powered personalization could lead to improved user engagement and reduced churn, potentially enhancing long-term value.

Tech Expert

Anghami's implementation of AI-powered personalization is a significant technological advancement. By tailoring content recommendations and dynamically curating offerings based on user preferences, the platform is likely to see improved engagement metrics and user satisfaction. This technology not only enhances the user experience but also provides valuable data insights for content acquisition and production decisions.

The focus on 4K streaming aligns with global trends in high-quality content consumption. However, it's important to consider the infrastructure challenges in some MENA regions, where high-speed internet may not be universally available. Anghami will need to balance its premium offerings with adaptive streaming technologies to ensure a smooth experience across various network conditions.

The integration of video and music streaming services presents unique technical challenges and opportunities for cross-platform synergies, potentially setting Anghami apart in the market.

Market Research Analyst

The MENA region's streaming market is showing signs of maturity and increased competition. Anghami's growth in this context is noteworthy, especially the high adoption rate of their Premium 4K plan. This suggests a growing willingness among consumers to pay for quality content and experiences, a trend seen in more developed markets.

The strategic partnerships with e-commerce (Noon) and telecom (Mobily KSA) players are smart moves to expand market reach. These collaborations tap into existing customer bases and leverage bundling strategies, which have proven effective in other markets for reducing customer acquisition costs and improving retention.

The content deal with Warner Bros. Discovery is crucial, as exclusive and premium content remains a key differentiator in the streaming wars. However, Anghami will need to continue securing high-profile content to compete with global players entering the MENA market. The success of titles like "House of the Dragons" demonstrates the importance of tentpole content in driving subscriptions.

ABU DHABI, UAE, Sept. 4, 2024 /PRNewswire/ -- Anghami (NASDAQ: ANGH), the leading multi-media streaming platform in the MENA region, announced a 18.3% growth in its video streaming subscriber base and significant strategic developments following its recent transaction with OSN+.

Substantial Subscriber Growth and Premium Adoption

Since the transaction, Anghami's video streaming user base grew by 18.3% as of the end of July 2024, with the recent premiere of "House of the Dragons" Season 2 serving as a key catalyst. Notably, 47% of new subscribers have opted for the newly launched Premium 4K plan, signaling strong demand for high-quality content in the MENA market.

Elie Habib, CEO of Anghami, commented, "The Anghami-OSN+ transaction has exceeded our expectations, not only in terms of subscriber growth but also in enhancing our ability to deliver premium entertainment across both music and video. Our strategic moves post-merger are already driving success".

Strategic Initiatives Driving Growth

Anghami's video streaming growth strategy includes several key initiatives:

• Partnerships: Cross-selling initiatives have expanded reach through targeted marketing activations. These include offering free OSN+ trials to Anghami users, yielding conversion rates exceeding 30%. A strategic partnership with Noon, a leading e-commerce platform in UAE and KSA, offers OSN+ benefits to Noon One customers as part of a major marketing campaign. Additionally, a collaboration with Mobily KSA bundles Anghami Plus and OSN+ in their Postpaid XStream packages, supported by extensive out-of-home and online advertising.
• Content Expansion: An exclusive multi-year agreement with Warner Bros. Discovery enriches OSN+ with premier Max Originals and Warner Bros films. September's lineup includes "The Penguin" starring Colin Farrell as the much-awaited Batman supervillain, a new season of "FROM", the fourth installment of "My Brilliant Friend", and the critically acclaimed "Wonka" movie. Upcoming releases feature "Dune: Prophecy" movie, "Dune: Part 2" series, "Godzilla x Kong: The New Empire" movie & more to be announced.
• AI-Powered Personalization: OSN+ has implemented sophisticated artificial intelligence algorithms to tailor content recommendations. This advanced system not only suggests shows and movies aligned with each user's unique tastes but also intelligently curates the offerings, removing suggestions that fail to pique interest. Consequently, this dynamic approach has led to an increase in content diversity consumption.

Anghami remains committed to innovation and growth, aiming to further solidify its position as the premier entertainment streaming platform in the MENA region.

About Anghami Inc.

Anghami (NASDAQ: ANGH) is the leading multi-media technology streaming platform in the Middle East and North Africa ("MENA") region, offering a comprehensive ecosystem of exclusive premium video, music, podcasts, live entertainment, audio services and more. Since its launch in 2012, Anghami has led the way as the first music streaming platform to digitize MENA's music catalog, reshaping the region's entertainment landscape. In a strategic move in April 2024, Anghami joined forces with OSN+, a leading video streaming platform, forming a digital entertainment powerhouse. This pivotal transaction strengthened Anghami's position as a go-to destination, boasting an extensive library of over 18,000 hours of premium video, including exclusive HBO content, alongside 100+ million Arabic and International songs and podcasts. With a user base exceeding 120 million registered users and 2.5 million paid subscribers, Anghami has partnered with 47 telcos across MENA, facilitating customer acquisition and subscription payment, in addition to establishing relationships with major film studios, entertainment giants, and music labels, both regional and international. Headquartered in Abu Dhabi, UAE, Anghami operates in 16 countries across MENA, with offices in Beirut, Dubai, Cairo, and Riyadh.

To learn more about Anghami, please visit: https://anghami.com.

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SOURCE Anghami

FAQ

What was Anghami's (ANGH) subscriber growth rate after the OSN+ transaction?

Anghami (ANGH) reported an 18.3% growth in its video streaming subscriber base following the transaction with OSN+.

What percentage of new Anghami (ANGH) subscribers chose the Premium 4K plan?

47% of new Anghami (ANGH) subscribers opted for the newly launched Premium 4K plan.

Which major content partnership did Anghami (ANGH) secure for OSN+?

Anghami (ANGH) secured an exclusive multi-year agreement with Warner Bros. Discovery to enrich OSN+ with premier Max Originals and Warner Bros films.

How is Anghami (ANGH) improving content recommendations on OSN+?

Anghami (ANGH) has implemented sophisticated artificial intelligence algorithms on OSN+ to tailor content recommendations and intelligently curate offerings based on user preferences.