Anghami - ANGH STOCK NEWS

Anghami Inc. (NASDAQ: ANGH) announced strong Q3 2022 results with total revenue rising 29% year-over-year to $31.7 million, and subscription revenue increasing 27% quarter-on-quarter. Gross profit improved by 13% year-over-year, supported by an 8% boost in net ARPU. To enhance profitability, the company reduced its workforce by 22% and diminished cloud expenses by 19%, despite a 15% rise in music traffic. Anghami also launched a talent competition on TikTok, garnering significant engagement.

Anghami Inc. (NASDAQ: ANGH) reported a strong performance for the first half of 2022, with revenues increasing by 29% year-over-year to $21.1 million. The company also saw a 46% rise in active users, totaling 19.5 million, and a 41% growth in monthly paying subscribers, reaching 1.28 million. Notably, Arabic music streams now make up nearly 60% of total streams, reflecting a 20% year-over-year increase. Despite these positive trends, Anghami faced a $3.5 million negative impact from foreign currency fluctuations, which masked an even greater revenue increase of over 50% when adjusted for constant exchange rates.

Anghami Inc. (NASDAQ: ANGH) has acquired Spotlight Events, enhancing its live event capabilities in the MENA region. This acquisition aims to integrate online and offline experiences, providing exclusive access to concerts through live video streaming. Anghami's technology will facilitate immersive experiences via AR and VR, supporting artists in reaching audiences. Spotlight Events will serve as Anghami's live events arm, expanding its entertainment ecosystem. The partnership is poised to unlock new opportunities for artists and enhance user experiences.

Anghami Inc. has renewed its marketing partnership with MBC GROUP, enhancing its visibility across the MENA region. This collaboration enables Anghami to feature prominently on MBC’s popular shows, including The Voice and Arab Idol, and through its various channels, including radio and social media.

The agreement signifies a strategic effort to bridge digital and traditional entertainment, reinforcing Anghami's position in the music streaming market while expanding its reach in key markets like Saudi Arabia.

Anghami, a leading music streaming platform, has partnered with Volkswagen Middle East to promote safe driving through its new Auto Car Mode feature. This initiative enhances user safety by providing a clearer interface, with larger buttons to minimize distractions while driving. The partnership includes a year-long collaboration following a successful 2021 campaign on safer driving. Additionally, Anghami's advertising revenue reached $9.8 million with an increase in gross margin from 38% to 53% from 2020 to 2021.

Anghami reported strong financial growth in 2021, with total revenue rising to $35.5 million (up 16% year-over-year) and gross margin at 25.5%. Subscription revenue reached $25.7 million, boosted by a 43% increase in monthly subscribers. Advertising revenue surged 70% to $9.8 million, with gross margins improving from 38% to 53%. Preliminary Q1 2022 results showed total revenue at $9.3 million, a 23% increase from the previous year, driven by a 26% rise in subscription revenue. Active users grew by 20% to 18.5 million.

Anghami has formed a strategic partnership with TOD to enhance its content offerings, starting this Ramadan. Anghami will stream TOD’s exclusive beIN sports audio content, providing subscribers with one month’s access to TOD’s entertainment content. The collaboration aims to diversify Anghami's portfolio with over 10,000 hours of premium sports and entertainment programming, including football league updates and interviews. Additionally, this partnership supports Anghami's growth trajectory following its recent branding update and a significant deal with megastar Amr Diab.

Rotana Music Holding and Anghami have announced a strategic partnership to distribute original Arabic music on Anghami. The agreement, signed in Riyadh, allows users to access a vast catalog of music at no charge, enhancing Anghami's library of 72 million songs. This partnership revives a long-standing collaboration that began when Anghami launched in 2012, underscoring both companies' commitment to elevate Arabic content on a global scale. The deal is expected to benefit Rotana's artists and expand Anghami's reach.

Anghami Inc. (NASDAQ: ANGH), the leading music streaming platform in the MENA region, has launched a new brand identity to support its growth, revealed on March 3rd. The campaign, featuring global megastar Amr Diab, aims to empower Arab youth by projecting their voices globally. Anghami claims a 58% market share with 72 million songs and podcasts available. The new features include a microphone option for all Anghami Plus members, allowing users to host their own Live Radio shows. This initiative reflects Anghami's mission to celebrate and amplify Arab culture.