Is Spotify buying Middle Eastern streaming service Anghami?
The question wasn’t in our minds until we read this quote from the company’s spokesperson: “We have no news to report regarding a potential acquisition between Spotify and Anghami.”
The statement (which is not a denial) was given to the MENA-based Frankly Magazine, for a report which cited other sources as claiming that “Spotify is exploring a potential take-over” of Anghami. The latter service declined to comment, according to the report.
Anghami went public earlier this year via a SPAC merger. In preliminary financial results published in August, the company revealed that it had 19.5 million active users (defined in its terms as those who’d used it in the previous three months), and nearly 1.3 million paying subscribers.
Anghami posted $21.1m of revenues in the first half of this year, and like Spotify has recently moved into audiobooks – in its case, via a partnership with Arabic-language service Wajeez.