MENA centered music streaming service Anghami has revealed its full 12 months monetary outcomes for 2021 in addition to its preliminary outcomes for Q1 2022.
The announcement comes three months after Anghami listed on the NASDAQ in New York.
Anghami experiences that its whole income grew 16% year-over-year in 2021, to $35.5 million in 2021.
Throughout the submitting, Anghami experiences that its subscription revenues reached $25.7 million in 2021, up 4% YoY.
The platform’s promoting revenues, in the meantime, grew by 70% to $9.8 million versus $5.8 million in 2020.
For the 12 months ended December 31, 2021, Anghami experiences that its paid subscribers elevated to 1.4 million, up 2% YoY.
In line with the agency’s preliminary Q1 outcomes, Anghami reached 1.5 million paid subs in three months to finish of March, up 13% YoY.
The agency additionally discloses in its preliminary Q1 outcomes that its whole revenues throughout the quarter reached $9.3 million, a rise of 23% YoY in comparison with the Q2 2021.
Subscription income elevated 26% year-over-year to $7.3 million in Q1 2022, with the agency’s ARPU rising 10% to $1.87.
The corporate experiences to have had 45 telco partnerships by March 2022.
Anghami listed on the NASDAQ by way of a merger with publicly-traded particular objective acquisition firm, Vistas Media Acquisition Firm.
The music streaming firm entered right into a definitive merger settlement with VMAC in March 2021, which values Anghami at $220 million.
It was authorised by a majority of VMAC stockholders at a particular assembly held on January 19, 2022
Final month, Saudi Arabia’s Rotana Music signed a strategic partnership with Anghami, that noticed Rotana’s content material made accessible on the platform worldwide.
Music launched by Rotana, which is claimed to be the biggest file label within the Center East, was beforehand accessible on Deezer completely within the MENA area since 2018, the 12 months the France born service launched in MENA.
Warner Music Group purchased a minority stake in Rotana Music in February final 12 months.
“2021 was a really particular 12 months for us, with many important milestones main as much as our itemizing on NASDAQ paving the best way to attain our development objectives that began to flourish in Q1 2022.”
Eddy Maroun, Anghami
Eddy Maroun, Co-founder, and Chief Government Officer of Anghami, stated: “2021 was a really particular 12 months for us, with many important milestones main as much as our itemizing on NASDAQ paving the best way to attain our development objectives that began to flourish in Q1 2022.
“By way of partnerships, our unique offers with artists resembling megastar Amr Diab, Unique content material and our label initiative Vibe Music Arabia with Sony Music, Amazon Prime & Alexa, TOD/BeIN and our renewed partnership with Rotana Music have strengthened our skill to supply an unparalleled expertise to our customers, with the biggest Arabic content material providing on prime of the world’s repertoire.
“That is in keeping with our aim to increase the Arabic tradition by way of content material and know-how. As we develop additional in direction of being an leisure platform, we’re working to convey modern ideas like Anghami Lab to life – to be the primary immersive expertise of its type, connecting the net and offline worlds and bridging the hole between digital and conventional leisure whereas supporting native creator communities.”
“We’re assured that this constructive growth will proceed by way of 2022 as we profit from our rising partnerships and choices.”
F. Jacob Cherian, Anghami
F. Jacob Cherian, Co-Chief Government Officer of Anghami, added: “Anghami has met many expectations within the run-up to its Nasdaq itemizing and stays dedicated to launching extra modern choices, increasing its international attain and delivering worth to clients by way of best-in-class content material and modern new options.
“We’re assured that this constructive growth will proceed by way of 2022 as we profit from our rising partnerships and choices.”Music Enterprise Worldwide
