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SRMG Ventures, the investment arm of SRMG, recently confirmed a strategic investment of USD 5 million in Anghami Inc., the flagship music streaming and entertainment platform in the MENA region. This strategic move by the region’s largest integrated media group underpins the rapid rise of the music and audio industry in the MENA region.
With 120 million users (75 million in 2021) and a rich catalog of over 100 million songs, Anghami has become the undisputed benchmark in Arabic and international music streaming.
Since its founding in 2012, Anghami has expanded its services to include in-house production, sponsored video and music content, and even record labels for Arab artists. SRMG Ventures’ investment recognizes Anghami’s leadership in the promising music entertainment industry.
The MENA region’s craze for music and audio, coupled with the rise of Arab artists on the international stage and the strategic presence of global record labels, has further solidified the MENA region’s position as a key player on the global music landscape.
The partnership with SRMG, and specifically with Arabic Billboard, will allow for greater promotion of artists and songs that are shaping the music industry regionally and globally. The strategic alliance between Anghami and SRMG promises to lead to fruitful collaboration in innovation and entertainment services in the region.
Jomana R. Al-Rashid, CEO of SRMG, and Eddy Maroun, co-founder and CEO of Anghami, expressed their enthusiasm for the partnership, underscoring the two giants’ shared vision to revolutionize the region’s media and entertainment industry.
SRMG Ventures continues its investment strategy focused on growth sectors, media creators and digital platforms, reflecting its desire to remain at the forefront of technological and creative innovation.
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