Profile of Dhabia-based Anghami: 1.4M, 70M, and 220M
Introduction
Anghami is a music streaming service based in Dubai that launched in 2012. It has quickly become one of the most popular music streaming services in the Middle East and North Africa. In 2019, it had over 80 million users and 1.4 million paying subscribers. Anghami has raised $70 million from investors and $220 million in revenue in the past year. This profile looks at how the company has achieved this success and how it plans to continue growing.
Growth Strategy
Anghami has had impressive growth since its launch. The company has been able to capitalize on its strong business relationships in the music industry and its large distribution network in the Middle East. Anghami also has a strong focus on user experience, which sets it apart from other streaming services. Its user interface is designed to be easy to use and navigate, and the platform offers a variety of music videos and playlists. Anghami also offers ad-supported free streaming and a premium subscription service with more music and no ads.
Partnerships and Acquisitions
Anghami has also been able to leverage partnerships and acquisitions to further expand its presence and user base. The company has inked deals with major music and video services like YouTube, Spotify, Apple Music, and Universal Music. These partnerships have allowed Anghami to expand its library and gain access to premium content. Anghami has also acquired several startups, including music streaming service Yala.fm and acoustic fingerprinting technology company, AudioPick. These acquisitions have helped Anghami improve its technology and user experience.
Financials
Anghami has seen impressive financial success over the past year. The company has raised $70 million from investors and is currently valued at $250 million. It has also seen $220 million in revenue, with $150 million coming from advertising and subscription services. Anghami is highly profitable, with a gross margin of over 80%. This is impressive considering the competitive nature of the industry and the fact that Anghami is a relatively young company.
Future Outlook
Anghami’s success over the past few years is an indication of the company’s potential for the future. With its focus on user experience and partnerships with premium content providers, Anghami is well-positioned to continue its growth and become a leader in the Middle Eastern and North African music streaming market. The company is also looking to expand into other markets, and it recently launched its streaming service in the United States. With its strong financials and growth strategy, there is no doubt that Anghami will continue to be a major player in the music streaming industry for the years to come.
Conclusion
Anghami is a successful music streaming service based in Dubai that has seen tremendous growth in recent years. The company has a strong business foundation and a comprehensive growth strategy that has enabled it to attract over 80 million users, 1.4 million paying subscribers, and $220 million in revenue in 2019. Anghami’s impressive financials and partnerships with major content providers will help the company continue its success into the future.
