SRMG Invests $5 Million in Anghami

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.

Robert De Niro told AFP Wednesday that many in Hollywood share his views on US President Donald Trump -- whom he denounced at the Cannes film festival opening -- but the industry is worried about speaking out against him.

The 81-year-old, one of the most outspoken critics of the American leader, used his Tuesday evening speech to condemn him again, calling him a "philistine".

"They have big businesses, they have to worry about the wrath of Trump, and that's where they have to make a decision: do I succumb to that or do I say no?" he told AFP.

But he cited as an inspiration the example of some US universities and legal firms who have stood up to attempts from Trump's administration to cow them.

"It's important, because other people pick that up, they see that they're fighting, it gives them strength to fight, and they're inspired by that," he added.

"They say it is possible... that's what America is about."

After accepting an honorary Palme d'Or on Tuesday evening for his contribution to cinema, the "Taxi Driver" star called for resistance against Trump's agenda.

As well as calling the president a "philistine", De Niro slammed his desire to implement 100-percent tariffs on films "produced in foreign lands".

"You can't have apathy, you can't have silence," De Niro said on Wednesday.

"People have to speak up and they have to take chances and risk being harassed. You just can't let the bully win, period."

Documentary film

De Niro also revealed Wednesday that he has been working on a new personal film project with New York-based French artist JR, best known for his huge photographic collages.

The film will be an exploration of De Niro's family, particularly his father, a painter, and the actor has opened up his family archives including abundant family videos.

"I don't know where we'll go," he told an audience during an interview with JR in Cannes. "There's no time limit, as far as I'm concerned."

The pair revealed some of the first images of their work, which include huge photos of De Niro's father and a sequence in which De Niro can be seen lying on one of them while travelling on a barge in New York's harbor.

It also features an appearance from Martin Scorsese, who directed De Niro in some of his best-known movies including "Goodfellas" and "Raging Bull".

The film also sees De Niro reflect on his life and twilight years.

Asked if he was afraid of death, he replied: "I don't have a choice, so you might as well not be afraid of it."

SRMG Invests $5 Million in Anghami