Eddy Maroun, Co-founder & CEO of Anghami, said: “This investment from SRMG Ventures marks a significant milestone for Anghami. We have continually evolved to meet our audience’s changing demands and support the region’s rising entertainment and music industry. Working together with SRMG, a leader and innovator in regional media, Anghami will be able to unlock further opportunities to champion the music ecosystem. This partnership will propel regional artists to greater heights, expand their global reach, and create new touchpoints for our users and artists alike.”
SRMG Ventures’ investment in Anghami aligns with the Group’s strategy to invest in businesses and areas of commercial growth, focusing on media creators, immersive and interactive entertainment, and digital media platforms and enablers that are at the forefront of technological and creative innovation. SRMG Ventures inaugural investments included Telfaz11, a Saudi based creative media studio, and Vuz, a leading VR-enabled social media application. As part of the investment agreement, SRMG will be invited to join Anghami's board of directors and will have the opportunity to increase its investment in Anghami in the future.
SRMG is the largest integrated media group from the MENA region. With a +50-year legacy responsible for many regional firsts, SRMG has built a portfolio of over 30 outlets – including Asharq Al-Awsat, Asharq Network which includes Asharq News and Asharq Business with Bloomberg, Arab News, Independent Arabia, Sayidaty, Hia and more.
Through its diversified platforms, SRMG brings quality news and information to an audience of millions across 4 continents in 7 languages. SRMG provides access to the biggest stories and issues, including exclusive news and in-depth analysis in an innovative way to help convey all regional and global events.
A champion of regional creativity, ideas, and innovation, SRMG has now expanded beyond media - diversifying its business to include book publishing, events and experiences, research and advisory, content production, venture capital and more. Leveraging its experience and knowledge of the region - and supported by global talent and partners - SRMG aims to unlock the possibilities of the future.
For more information, please visit: https://www.srmg.com, or contact:
The first, most established and fastest growing music technology platform in the Middle East and North Africa region, Anghami is the go-to destination for Arabic and International music, podcasts and entertainment. With an extensive ecosystem of music, podcasts, events and more, Anghami provides the tools for anyone to create, curate and share their voice with the world. Launched in 2012, Anghami was the first music-streaming platform in MENA to digitize the region’s music. Today, it has the largest catalog comprising more than 100 million songs and licensed content from leading Arabic labels, independent artists and global distributors, available for 120 million registered users. Anghami has established 40+ telco partnerships to facilitate subscriptions and customer acquisitions, in parallel to building long-term relationships with, and featuring music from, major music labels including Universal Music Group, Sony Music Entertainment, Warner Music Group and the Merlin Network. Anghami is constantly licensing and producing new and original content. Headquartered in Abu Dhabi, Anghami has offices in Beirut, Dubai, Cairo, and Riyadh and operates in 16 countries across MENA. It has recently expanded into the US and Canada, with Europe in the pipeline. It is the only service available in English, Arabic and French, and remains close to its customer base, not only thanks to its pan-regional presence but also via the 56 million user data points it generates every day.
To learn more about Anghami, please visit: https://anghami.com,