عربي English Türkçe اردو فارسى
Logo
Latest News
Entertainment

SRMG Invests $5 Million in Anghami

The investment marks a significant development in the region’s rising music and audio industry
The investment marks a significant development in the region’s rising music and audio industry
TT
20
TT

SRMG Invests $5 Million in Anghami

The investment marks a significant development in the region’s rising music and audio industry
The investment marks a significant development in the region’s rising music and audio industry

SRMG Ventures, the venture capital arm of SRMG (Saudi Research and Marketing Group), has announced a $5 million investment in Anghami, the leading music and entertainment streaming platform in the MENA region. The investment marks a significant development in the region’s rising music and audio industry.

SRMG Ventures, the largest comprehensive media group in the MENA region, 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 sector that is forecasted to reach $700m in 2026.

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 (Compound Annual Growth Rate) of 11 percent, 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.

“Audio consumption is growing fast in the MENA region. In 2022 alone, the market size for audio increased by 35 percent, which represents a major opportunity for investors in the MENA,” said CEO of SRMG Jomana Al-Rashid.

“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,” she added.

“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,” Al-Rashid said.

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. 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.”

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.

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.

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.

Most Viewed

 
Entertainment

Think You Know 'Jaws'? Test Your Knowledge with this Trivia Ahead of the Movie's 50th Anniversary

This image released by Peacock shows Roy Scheider in a scene from "Jaws." (Peacock/Universal Pictures via AP)
This image released by Peacock shows Roy Scheider in a scene from "Jaws." (Peacock/Universal Pictures via AP)
TT
20
TT

Think You Know 'Jaws'? Test Your Knowledge with this Trivia Ahead of the Movie's 50th Anniversary

This image released by Peacock shows Roy Scheider in a scene from "Jaws." (Peacock/Universal Pictures via AP)
This image released by Peacock shows Roy Scheider in a scene from "Jaws." (Peacock/Universal Pictures via AP)

Friday marks the 50th anniversary of “Jaws.” It remains one of the most beloved and rewatched movies of all time. But how good is your knowledge of the some of lore surrounding Steven Spielberg's 1975 masterpiece?

Read on and see how much you know about “Jaws.”

What was the nickname given to the shark? Spielberg named his mechanical shark “Bruce,” after his attorney, Bruce Ramer.

Where did the title come from? When author Peter Benchley’s 1974 book was going to print, he needed to choose a title. He has juggled various titles — “Leviathan Rising,” “Silent Fall” — before, at the last minute, choosing “Jaws.”

What did it mean? Benchley, himself, wasn’t sure, he told his editor, but it was short.

What's the origin of the iconic movie poster? The image of the rising shark came from the cover of the novel’s paperback edition, illustrated by Roger Kastel. For his painting, Kastel went to the American Museum of Natural History to photograph a great white shark from a diorama that was laying on an easel.

What was the inspiration for Amity? Though Spielberg shot “Jaws” on Martha’s Vineyard, off Cape Cod, it was the neighboring island, Nantucket, that inspired Benchley’s novel. He has spent time fishing there with his father. In the book, the fictional Amity is on the south shore of Long Island.

Who was first attached to direct “Jaws”? Dick Richards was initially in line to direct the film, but producer Richard D. Zanuck said he lost the job after, in a meeting, repeatedly referring to the shark as a whale.

How old was Spielberg when he began the project? 26.

Who sought but was turned down the role of Brody? Charlton Heston wanted to play the Amity Island police chief, but Spielberg instead cast Roy Scheider.
What’s the name of Quint’s boat? The Orca. Not coincidentally, two years after the massive success of “Jaws,” a 1977 ripoff about a killer whale was released titled “Orca.”

What led to the shark often malfunctioning? Salt water. The shark, built by special effects artist Bob Mattey, would get corroded by the salt water of the Atlantic Ocean, leaving it unusable for times – particularly early in the filmmaking. Spielberg pivoted and instead doesn’t show the shark until well into the film, an approach that ultimately led to a far more suspenseful film.

Spielberg once estimated that Bruce’s mechanical delays added $175 million to the movie’s box office.

How long into “Jaws” does the shark fully appear on screen? It’s not until one hour and 21 minutes into the movie that we really see the shark.

Was the movie’s most iconic line scripted? No, Schieder adlibbed “You’re gonna need a bigger boat.” Screenwriter Carl Gottlieb, though, has said the line had been percolating on set. The size of the barge carrying equipment and craft services was often slighted by the crew who felt producers weren’t spending enough. Gottlieb told The Hollywood Reporter in 2016: “It became a catchphrase for any time anything went wrong – if lunch was late or the swells were rocking the camera, someone would say, ‘You’re gonna need a bigger boat.’”

What disaster was Quint a survivor of? The sinking of the USS Indianapolis, the US Navy cruiser torpedoed by a Japanese submarine during World War II.

Quint’s lengthy and memorably speech in the film wasn’t in the novel but was, according to Spielberg, penned by the uncredited screenwriter John Milius.

Spielberg wanted a backstory to why Quint hated sharks so much. Though debate has continued over the years over who wrote the monologue, everyone has agreed Shaw synthesized it, and deserves most of the credit for the scene’s power.

Does Spielberg appear in “Jaws?” The director isn’t seen in the film but his voice is heard. During the finale of the film when Quint is readying the harpoon, it’s Spielberg’s voice on the radio. He says: “This is Amity point light-station to Orca. Orca, come in.” Spielberg shows up in a couple other ways, too. A clarinetist in high school, he plays briefly on Williams’ score. And Brody’s dogs were Spielberg’s cocker spaniels, Elmer and Zalman. (For his part, Benchley makes a cameo as a TV reporter during the July 4th beach scene.)

How far over schedule did “Jaws” run? The production was scheduled for 55 days but took 159 days to complete. The budget also nearly tripled, to $9 million, plus $3 million more in post-production. Though “Jaws” become the prototype summer movie, it was originally expected to open around Christmastime the year before.

What was “Jaws” rated? Though it caused some controversy, the Motion Picture Association of America gave “Jaws” a “PG” rating. At the time, there was no PG-13 rating. (That only began in 1984, with “Indiana Jones and the Temple of Doom,” after a handful of other Spielberg productions, including “Raiders of the Lost Ark” and “Gremlins” led to the new category.) Jack Valenti, then-president of the MPAA, defended the rating by arguing that “‘Jaws’ involved nature’s violence, rather than man’s violence against man,” Valenti said. “This is the same kind of violence as in ‘Hansel and Gretel.’ Children might imitate other kinds of violence, but not the kind seen in ‘Jaws.’”

The movie’s poster carried the warning: “MAY BE TOO INTENSE FOR YOUNGER CHILDREN.”

What did “Jaws” lose best picture to at the Academy Awards? “Jaws” was nominated for four Oscars and won three: best sound, best editing and best score for John Williams. The competition for best picture, though, was fierce.

The nominees, alongside “Jaws,” where “Dog Day Afternoon,” “Barry Lyndon,” “One Flew Over the Cuckoo’s Nest” and “Nashville.” The winner was “One Flew Over the Cuckoo’s Nest.”