Tencent Music wasn’t the only regional streaming service reporting financials overnight. MENA-focused Anghami also published its latest figures, revealing that it now has 19.5 million active users (up 46% year-on-year) and nearly 1.3 million paying subscribers (up 41%). Note, the first of those figures isn’t monthly actives: it’s people “who used Anghami at least once over a rolling 3-month period”.
The company’s revenues in the first half of 2022 were up 29% to $21.1m, although these being preliminary financials, there aren’t any profit/loss details yet. Anghami did provide another stat on its business though, saying that Arabic music streams are now 60% of its total music streams – “a 20% year-over-year increase”.
The financials follow recent announcements including a deal with audiobooks firm Wajeez to bring its content to the service, and the launch of a series of concerts in Dubai run by its recently-acquired Spotlight Live Events subsidiary.
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