6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of December 2023

Commission File Number: 001-41263

Anghami Inc.

(Exact name of registrant as specified in its charter)

16th Floor, Al-Khatem Tower, WeWork Hub71
Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, United Arab Emirates

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒       Form 40-F ☐

Announcement of Third Quarter 2023 Financial and Operating Results.

On December 26, 2023, Anghami Inc. (NASDAQ: ANGH) (the “Company” or “Anghami”) issued a press release announcing its third quarter 2023 financial results, a copy of which is attached hereto as Exhibit 99.1.

EXHIBIT INDEX

Exhibit	Description
99.1	Anghami Inc. reports preliminary unaudited financial results for the third quarter of 2023, Press Release dated December 26, 2023
99.2	Amr Diab press release, Dated December 21, 2023
99.3	Anghami and OSN+ Transaction press release, Dated November 21, 2023
99.4	Anghami SRMG Ventures announcement press release, Dated August 21, 2023

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

Date: December 26, 2023	ANGHAMI INC.
	By:	/s/ Edgard Maroun
	Name:	Edgard Maroun
	Title:	Chief Executive Officer

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EX-99.1

Exhibit 99.1

Anghami Reports 17% Subscriber Growth in Preliminary Unaudited 2023 Q3 Results, with Transformative Strategic Investments from OSN Group and SRMG Ventures

PRELIMINARY UNAUDITED RESULTS FOR THE THIRD QUARTER OF 2023

Today, Anghami announced preliminary results for its third quarter 2023 performance. The company delivered strong results in Q3 2023 compared to Q3 2022. Additionally, the company shared a host of major strategic and operational updates:

● Subscribers grew 17% Y/Y reaching 1.73 million, as of September 30, 2023

● Adjusted Revenue¹ grew 8% Y/Y to $30 million for the 9 months ending September 30, 2023

● Gross Profit Margin for the 9 months ending September 30, 2023, increased to 22%, a significant improvement compared to 12% in the comparable period of 2022

● Anghami secured a $5 million strategic investment from SRMG at a valuation of $2.5 per share, aimed at further accelerating growth and leveraging both parties’ resources and expertise in technology, innovation, and content.

● Anghami signed a milestone transaction in which OSN Group will contribute its video streaming platform (OSN+) and will invest up to $50 million in cash in Anghami. The investment values Anghami at $3.65 per share and is set to reshape the landscape of music and video streaming in MENA.

● Amr Diab’s highly anticipated “Makanak” album to debut exclusively on Anghami on December 28, 2023, accompanied by a Live Concert Tour.

December 26, 2023. Abu Dhabi, United Arab Emirates (UAE) - Anghami Inc. (NASDAQ: ANGH) the leading music and entertainment streaming platform in the Middle East and Africa region (MENA), reported today its preliminary results for the third quarter of 2023, the 9-month period ending September 30, 2023, highlighting significant growth, cost reductions and strategic developments.

For the 9 months ending September 30, 2023, the Company witnessed robust performance with a 17% growth in subscribers, a 8% increase in Adjusted Revenue and a major improvement in Gross Profit margin which reached 22%.

Enhanced performance within the high-margin segments of the core business

Revenue from direct subscriptions (i.e., app stores and web) grew by 17% Y/Y. While revenue from Telco channels decreased 21% Y/Y, this decline was anticipated as Anghami’s strategy is to focus on growth within direct channels that offer improved margins, better collection terms, and protection against currency fluctuations.

On August 7, 2023, Anghami introduced a new subscription plan, Anghami Gold, its highest subscription tier to date. This subscription offers a range of new features and enhanced music and podcast listening experiences powered by AI.

In October 2023, Anghami improved its largest Telco agreement with Vodafone Egypt increasing Anghami’s revenue potential by approximately 2x. This strategic move was undertaken to mitigate the impact of the EGP devaluation and optimize ARPU.

⁽¹⁾ Adjusted Revenue is defined as revenues excluding barter advertising transactions which involve non-cash equal exchange of services between Anghami and a counterparty and / or partner.

Revenue from advertising (excluding barter transactions) witnessed significant growth of 28% Y/Y, driven by:

● The ongoing expansion and significant successes of Anghami Studios, Anghami’s production unit that works closely with major brands to provide tailored advertising solutions.

● Improved commercial terms and expanded scope with Anghami’s advertising partners, driving growth within the core in-app advertising business.

Efficiency and focus on profitability continue to drive Anghami’s success

Anghami consistently improved cost efficiencies in key areas, comprising significant decreases in:

● Technology and infrastructure costs, attributed to sustained backend enhancements.

● Selling and marketing expenses, resulting from optimized growth marketing spend.

● Salaries and other related benefits, following an approximate 15% Y/Y reduction in workforce size.

Simultaneously, Anghami maintained subscriber growth through improved platform scalability, even while reducing overall platform costs.

Anghami’s unique collaboration with megastar Amr Diab sets it apart from competitors, providing regional audiences with exclusive premium content and live concerts

On May 18, 2023, Anghami expanded its flagship exclusive agreement with superstar Amr Diab by adding 4 live concerts covering several key cities across the MENA region. These live concerts will be managed exclusively by Anghami’s live events and concerts arm.

The concert tour is set to take place following the release of Amr Diab’s highly anticipated new album “Makanak” which is set to be released exclusively on Anghami on December 28, 2023.

Major and transformative strategic milestones set to position Anghami as digital media streaming powerhouse

● On August 21, 2023, Anghami secured a $5 million strategic investment from SRMG, one of MENA’s most prominent media groups based in Saudi Arabia. This milestone is set to impact the region’s music industry and advance the broader media and entertainment ecosystem. The investment values Anghami at $2.5 per share.

● On November 21, 2023, Anghami and OSN Group signed a landmark transaction that is set to combine Anghami with OSN+ (OSN Group’s video streaming business) to create the MENA region’s first integrated music and video streaming platform. With a significant $50 million cash investment in Anghami from OSN Group, this strategic transaction brings together over 120 million registered users, 2.5+ million subscribers, and combined revenue exceeding $100 million. Leveraging Anghami’s music catalog and OSN+’s video content (including HBO on an exclusive basis), the platform will offer an exceptional digital streaming experience with AI-driven personalization, focusing on user preferences. The investment values Anghami at $3.65 per share, a significant premium to Anghami’s current trading price. The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions and regulatory approvals.

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Eddy Maroun, Co-founder, and Chief Executive Officer at Anghami, said, “This quarter has been transformative for Anghami, both strategically and financially. With the securing of key strategic anchor investors such as OSN Group and SRMG, we have achieved a significant milestone in our growth journey. Our growth has been concentrated in high-margin segments, aligning perfectly with our strategic focus. Moving forward, integrating video streaming capabilities is a strategic move, promising significant enhancements to our platform and broadening our service offerings.”

Anghami’s consistent growth in its core direct business, coupled with the enhancement of key commercial contracts, underscores its ongoing commitment to driving growth while improving margins. The strategic investments from OSN Group and SRMG are poised to significantly accelerate Anghami’s expansion in high ARPU markets within the GCC, where OSN Group and SRMG have a strong foothold.

About Anghami Inc.

As the first, and leading music streaming technology platform in the Middle East and North Africa region (“MENA”), 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 to digitize MENA’s music catalog. Today, Anghami has one of the largest music catalogs in MENA comprising 100 million songs and licensed content from leading Arabic labels, international labels, distributors, and independent artists, made available to over 120 million registered users.

Anghami has established 47 telco partnerships in MENA to facilitate customer acquisition and subscription payment, in parallel to building long-term relationships with, and featuring music from, major Arabic and international music labels including Rotana Music, Universal Music Group, Sony Music Entertainment, Warner Music Group and the Merlin Network. Anghami is constantly increasing its content library by licensing and producing new and original content.

Headquartered in Abu Dhabi in the UAE, Anghami has offices in Beirut, Dubai, Cairo, and Riyadh and operates in 16 countries across MENA. Anghami recently expanded its service into the US, Canada and Europe.

To learn more about Anghami, please visit: https://anghami.com 

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Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Anghami’s actual results may differ from its expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “start,” “project,” “budget,” “forecast,” “preliminary,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “continue,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside Anghami’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the impact of COVID-19 on Anghami’s business; the outcome of any legal proceedings that may be instituted against Anghami; changes in applicable laws or regulations; and the possibility that Anghami may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties identified in Anghami’s annual report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 13, 2022, including those under “Risk Factors” therein, and in other documents filed or to be filed with the SEC by Anghami and available at the SEC’s website at www.sec.gov. Anghami cautions that the foregoing list of factors is not exclusive. Anghami cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, Anghami does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

Preliminary Unaudited Results for the Third Quarter of 2023

The selected preliminary unaudited results and key performance indicators included herein are based on the Company’s preliminary estimated results for the third quarter of 2023 ended September 30, 2023, and are subject to revision based upon the completion of the Company’s third quarter 2023 financial closing processes and other developments that may arise prior to the time its financial results are finalized. The information is derived from preliminary reports which are subject to change in connection with the completion of the Company’s normal closing procedures and such changes could be material. However, management believes these preliminary unaudited results and key performance indicators are reasonable. The Company’s preliminary unaudited results and key performance indicators are forward-looking statements based solely on information available to the Company as of the date of this presentation and the Company’s actual results may differ materially from these estimates. You should not place undue reliance on these estimates.

CONTACTS:

Investor Contact:

Questions addressed to Anghami Investor Relations can be sent to ir@anghami.com

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EX-99.2

Exhibit 99.2

Amr Diab’s Eagerly Anticipated New Album to Drop Exclusively on Anghami, Paving the Way for an Epic Live Concert Tour

■ Amr Diab’s “Makanak” to premiere on December 28, 2023.

■ Live concerts kick off in Abu Dhabi in March 2024, followed by Cairo, Dubai, and Amman.

Abu Dhabi, UAE – 21 December 2023 – Anghami (NASDAQ: ANGH), the leading music and entertainment streaming platform in the MENA region, has announced the exclusive release of Amr Diab‘s long-awaited album, “Makanak,” on its platform on December 28, 2023. This exclusive release is not just a musical milestone; it marks the beginning of a new partnership era between Anghami and Amr Diab, offering fans an unmatched immersive experience. The album launch will be followed by a series of live concerts featuring the iconic pop sensation, solidifying Anghami’s commitment to providing unique and unforgettable experiences for its users in the region. 

Amr Diab’s exclusivity took center stage and reached new heights as he dominated Anghami’s charts throughout 2023, claiming the spot as the most followed artist. Earlier this year, Anghami officially recognized Amr Diab as the most streamed artist of all time on the platform during his mega concert in Beirut, with a staggering 1.8+ billion streams.

El Hadaba’s releases have consistently been a journey through musical evolution, breaking records and capturing the hearts of fans worldwide. “Makanak” is a genre-defying masterpiece, offering a diverse sonic journey that seamlessly blends Arabic Maqsoum genre with the global beats of deep house vibes. The 12-song album is the first since his iconic album “Ya Ana Ya La” released back in December 2020. This unique fusion of deep house sounds and oriental music has become synonymous with Amr Diab’s recent hits, such as “Ya Leil” and “Wallahi Abadan.”

As the anticipation builds with each song, Anghami and Amr Diab are set to embark on a live concert tour, bringing the album theme to life in a series of unforgettable live performances. The tour, to be managed and executed by Anghami Spotlight, the dedicated offline and events division of Anghami, is scheduled to kick off in Abu Dhabi on March 2nd, 2024, followed by Cairo, Dubai, and Amman. This is not just a series of concerts, but a blend of digital and physical entertainment experiences, promising fans the best of both worlds.

Eddy Maroun, Founder and CEO of Anghami, commented on the ongoing partnership: “Our exclusive collaboration with Amr Diab perfectly aligns with our strategic goals and commitment to both our users and the music entertainment industry. We eagerly anticipate a shared journey of growth together and look forward to an exciting stage that aims to redefine the landscape of musical experiences in the region.”

As this partnership enters a new and exciting era, fans can expect unparalleled experiences that will deepen their connections with the artists they love. The upcoming stage promises more sold-out concerts and record-breaking moments, shaping the future of the music scene in the MENA region.

Pre-save Amr Diab’s “Makanak” album exclusively on Anghami here: https://play.anghami.com/artist/72

-Ends-

About Anghami Inc. (NASDAQ: ANGH):

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  

Media Contact:

Marian Bahader

press@anghami.com

Investor Relations:

ir@anghami.com

EX-99.3

Exhibit 99.3

Anghami and OSN+ Sign Landmark Transaction Set to Transform MENA Entertainment

■ The combination of Anghami Inc. (NASDAQ: ANGH) and OSN+ will be the first regional platform that provides video and music, backed by up to $50 million cash investment in Anghami and bringing together over 120 million registered users, 2.5+ million subscribers and $100+ million revenue at closing.

■ The OSN Group will invest in Anghami at a valuation of $3.65 per share, 3.9x the stock’s average price for the past month.

United Arab Emirates, 21st November 2023: In a milestone transaction set to reshape the MENA media and entertainment landscape, Anghami Inc. (NASDAQ: ANGH) (“Anghami”), the leading music and entertainment streaming platform in the Middle East and North Africa, and OSN+, the region’s leading streaming platform for premium content have announced a deal that will combine their businesses. A first of its kind in the region, the combination of the two local home-grown brands will offer consumers unprecedented digital aggregation of the best and latest in premium movies, TV shows, music, podcasts and more while providing a rich and seamless user experience.

Backed by a cash investment of up to $50 million from OSN Group in Anghami, the deal will bring together over 120 million registered users, more than 2.5 million paying subscribers with over $100 million in revenue at closing, transforming Anghami Inc. into one of the region’s largest streaming platforms. Anghami boasts a catalogue of over 100 million songs, with exclusives from artists such as Amr Diab, the all-time best-selling Middle Eastern artist, while OSN+ has over 18,000 hours of video content and exclusive partnership with premium international studios such as HBO, NBC Universal, Paramount, and leading Arabic and Turkish studios.

With customer-centricity at its core, the new platform will be committed to offering the best product and content experience in the region. Recognizing the power of both brands, the platform will leverage Anghami’s strong tech stack and rich music catalogue coupled with OSN+’s library of premium video content to deliver a unique digital streaming experience with AI-driven hyper personalization that prioritizes recommendations based on user preference.

Elie Habib, co-founder of Anghami and set to be the CEO of the combined business commented: “Joining forces with OSN+ is a leap in Anghami’s journey to reinvent entertainment in the Arab World. We’re bringing together technology, music and video to build a comprehensive media ecosystem. It’s a chance to deepen our connection with our users and to create something they will truly love.”

Joe Kawkabani, CEO, OSN Group, added: “This is a major milestone in OSN’s journey as we continue to scale up our streaming business. Combining OSN+ content with Anghami’s technology enables us to deliver the best of entertainment all in one place for our customers, ensuring we are continuously evolving our offering to meet their needs. As two home-grown entities with an unmatched understanding of the local market, we are confident that this new offering will change the face of the regional streaming landscape.”

The OSN Group will invest in Anghami at a valuation of $3.65 per share, 3.9x the stock’s average price for the past month. Anghami intends to maintain the listing of its ordinary shares on the Nasdaq Stock Market following the closing of the transaction. The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions and regulatory approvals. Following the closing of the transaction, OSN Group will own a majority stake in Anghami Inc. The final amount of the OSN Group’s cash investment in Anghami and the final number of Anghami securities to be issued in a private placement to the OSN Group is subject to adjustment based on the terms of the definitive transaction agreement. In addition to its stake in Anghami, OSN will continue to run its linear TV business OSNtv, with Joe Kawkabani as Group CEO.

To know more about this strategic deal, check out this article on Bloomberg.

Cautionary Language

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Anghami’s actual results may differ from its expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “will,” “estimate,” “project,” “budget,” “anticipate,” “intend,” “plan,” “may,” “could,” “should,” “believes,” “continue,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements because they relate to events and depend upon future circumstances that may or may not occur, such as the consummation of the transaction and the anticipated benefits thereof. Most of these factors are outside Anghami’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to, the risk that the completion of the transaction on the anticipated terms and timing may not occur, including obtaining required regulatory approvals, and the satisfaction of other conditions to the completion of the transaction; potential litigation relating to the transaction, including the effects of any outcomes related thereto; the risk that Anghami may not otherwise meet the requirements for continued listing on the Nasdaq Stock Market; the risk that disruptions from the transaction will harm Anghami’s business, including current plans and operations; the ability of Anghami to retain and hire key personnel; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the transaction; legislative, regulatory and economic developments affecting Anghami’s business; general economic and market developments and conditions; potential business uncertainty, including changes to existing business relationships, during the pendency of the transaction that could affect Anghami’s financial performance; certain restrictions during the pendency of the transaction that may impact Anghami’s ability to pursue certain business opportunities or strategic transactions; unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, pandemics, outbreaks of war or hostilities, as well as Anghami’s response to any of the aforementioned factors; significant transaction costs associated with the transaction; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; the occurrence of any event, change or other circumstance that could give rise to the termination of the transaction; competitive responses to the transaction; the risks and uncertainties pertaining to Anghami’s business; and other risks and uncertainties identified in Anghami’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 16, 2023, including those under “Risk Factors” therein, and in other documents filed or to be filed with the SEC by Anghami and available at the SEC’s website at www.sec.gov. Anghami cautions that the foregoing list of factors is not exclusive. Anghami cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, Anghami does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

This press release does not constitute an offer to sell or the solicitation of an offer to buy shares of Anghami’s ordinary shares, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

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About Anghami

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 catalogue 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. To learn more about Anghami, please visit: https://anghami.com

For media inquiries, please contact:

Marian Bahader 

press@anghami.com

Investor Relations:

ir@anghami.com

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About OSN+

OSN+ is the region’s leading local premium streaming service, featuring an incredible line-up of exclusive global and local curated content. Led by its long-term partnerships with major studios including HBO, NBC Universal, Paramount+, Endeavor Content, MGM, and Sony, the platform ensures the latest content at the same time as the US, including critically acclaimed series and must-see movies, as well as world-class Arabic original content and OSN+ Originals.

OSN+ can be accessed through all your favourite devices, including major TV platforms, all iOS, and Android devices, and from the web. Find out more and stream now at www.osnplus.com

About OSN

OSN is the leading service for premium entertainment servicing the MENA region in 22 countries featuring exclusive and in-demand premium global and local hit tv series and films. OSN delivers content across multiple divisions: OSN+, OSNtv, and b2b offerings in every market. Home to the most compelling content from around the world, OSN spearheads premium content including Western, Arabic, Turkish and more across divisions, distinctively known for broadcasting the latest content on the same day as the US, including popular series, blockbuster movies, and the best in kids and lifestyle programming.

OSN’s ambition is to deliver entertainment everywhere for everyone, which is informed by the company’s three key pillars: A customer-first approach, unrivaled exclusive content, and unbeatable value. By seamlessly bringing together Global Network Partnerships, Studios, and Originals, along with reimagined Linear channels, OSN provides an ecosystem of entertainment.

For media inquiries, please contact:

Cham Alatrach 

cham.alatrach@ipn.ae

+971 58 596 7729

Impact Porter Novelli

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EX-99.4

Exhibit 99.4

SRMG VENTURES ANNOUNCES STRATEGIC INVESTMENT IN ANGHAMI, MENA’S LEADING MUSIC AND ENTERTAINMENT STREAMING PLATFORM

■ SRMG Ventures, the venture capital arm of SRMG, makes its third investment with a $5 million investment in Anghami.

■ SRMG, the largest integrated media group in the Middle East and North Africa (MENA), is committed to fostering the region’s media and entertainment ecosystem by identifying market opportunities, meeting consumer demand and creating new revenue streams.

■ Anghami will leverage SRMG’s extensive media network to accelerate its growth by creating new experiences for users and opportunities for artists, and collaborating to expand the legal consumption of music and audio content in the MENA region.

Riyadh, Saudi Arabia – August 21, 2023: SRMG Ventures, the venture capital arm of SRMG, has today announced a $5 million investment in Anghami Inc. (NASDAQ: ANGH), the leading music and entertainment streaming platform in the MENA region. An investment by the MENA region’s largest integrated media group in Anghami, marks a significant development in the region’s rising music and audio industry. SRMG Ventures will bolster Anghami’s growth trajectory through its extensive media reach, content library, and portfolio of leading assets in audio/podcasts and enable it to capture a larger share in the fast-growing sector that is forecasted to reach $700M in 2026*.

Anghami has established itself as the region’s leading music and entertainment streaming platform. With 120 million registered users (a significant increase from 75 million users in 2021), a substantial subscriber base and a catalogue comprising more than 100 million songs, Anghami is the go-to platform for Arabic and International music, podcasts and entertainment.

Since launching in 2012, Anghami has broadened its portfolio beyond music streaming. It now provides in-house productions, branded music and video content, concerts and live events, a record label for Arab artists, podcasts, a music lounge with live entertainment, exclusive and original Arabic content, along with its renowned music streaming service.

SRMG Ventures’ investment in Anghami reflects its unique and leading position in the promising music and audio segment of the media industry. The MENA music and audio industry is forecasted to grow at a CAGR of 11%*, outpacing the global market. This rapid growth, further highlighted by the rising prominence of Arab stars and local talent, coupled with the strategic presence of international labels including Warner, Universal, and Sony, is cementing MENA’s position as a pivotal player in the global music landscape.

Anghami’s breadth of data and its leading distribution capabilities present compelling collaboration opportunities with SRMG. Billboard Arabia, the latest addition to SRMG’s media portfolio, will introduce several charts using data from the leading digital streaming platforms – including Anghami – to highlight the artists and songs driving the global and regional music industry. In addition, Thmanyah, Independent Arabia, and Hia, all notable audio content creator outlets under SRMG, are already present within the Anghami platform, setting the stage for continued collaboration between SRMG and Anghami.

Jomana R. Al-Rashid, CEO of SRMG, said: “Audio consumption is growing fast in the MENA region. In 2022 alone, the market size for audio increased by 35%. This demand coupled with the commercial opportunity it presents makes digital audio and media one of the investment priorities for SRMG Ventures. These opportunities are also demonstrative of our strategy and commitment to support and develop the media ecosystem, act as a catalyst for further growth and enhancement of SRMG’s offerings and services. Today, Anghami has been able to secure one of the largest user bases in audio streaming in the region, and has developed an impressive platform with extensive technological capabilities – a testament to the leadership of founders Elie Habib and Eddy Maroun. We’re looking forward to working closely with the Anghami team to realize our shared vision of elevating the region’s media and entertainment industry.”

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.

References:

*As per PwC’s Global Entertainment & Media Outlook 2022-2026 for Saudi Arabia, UAE, Egypt, and Rest of MENA

-ENDS-

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ABOUT SRMG:

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:

Media Contact:

Anthony Dykes

Senior Communications Manager, SRMG

Email: anthony.dykes@srmg.com

Mobile: +966 53 780 3028

ABOUT ANGHAMI:

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, or contact:

Media Contact:

Marian Bahader

press@anghami.com

Investor Relations:

ir@anghami.com

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