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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
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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.

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Entertainment

A New Generation of Elvis Tribute Artists Compete in the King’s Hometown

Elvis Presley in 1975. (Getty Images)
Elvis Presley in 1975. (Getty Images)
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A New Generation of Elvis Tribute Artists Compete in the King’s Hometown

Elvis Presley in 1975. (Getty Images)
Elvis Presley in 1975. (Getty Images)

Nearly 50 years after Elvis Presley's death, a gaggle of exuberant young boys and men shook up his hometown, intent on keeping the king's legacy alive for a new generation.

Ranging in age from seven to 17, some donning jeweled jumpsuits, they took the stage at the Tupelo Elvis Festival's youth tribute artist competition last week.

In contrast to their peers, some of whom may have never heard of Elvis, the competitors have dedicated an enormous amount of time and energy studying the king's voice, mannerisms and style.

They are careful to specify they are Elvis tribute artists. Unlike impersonators, who pretend to be Elvis and sometimes present a characterized version of the king, tribute artists strive for authenticity. Some wore costumes created by B&K Enterprises Costume Co., a company licensed to recreate Elvis' outfits and provide costumes for Elvis movies, musicals and TV shows.

“We're not trying to be him,” said Tucker Gladden, 17, from Madison, Mississippi. “We want to recreate the experience as much as we can for people that maybe didn't get to see Elvis in their lifetime.”

As for their fascination with a long-dead musician, several of the tribute artists credited the 2022 “Elvis” movie with sparking their interest. A couple said their admiration began after discovering they were distantly related to Elvis. Others said it was Elvis' faith and charity that inspired them. Some said they had been performing Elvis songs since they were 3 years old.

For 16-year-old Ayden Maloy from Logansport, Indiana, it was the way Elvis' music helped him during a difficult time in his life that helped motivate him to begin performing as an Elvis tribute artist three years ago.

In an afternoon of dazzling outfits and daring dance moves, the performers paid their tributes, getting the audience clapping, singing and swaying along to their Elvis covers. Ultimately, RJ Hursey, a 14-year-old from Bloomington, Illinois, won the competition.

“It means the world to me,” Hursey said.

Before the competition, the tribute artists toured the Elvis Presley Birthplace, a sprawling complex that includes the home where Elvis was born and the church where he was first exposed to Southern gospel music.

“It feels so surreal to pay tribute to Elvis in his hometown,” said 15-year-old Charles Session from Morrilton, Arkansas. “I hope that he’s looking down and smiling at all these young performers.”

Entertainment

‘Scary Movie’ Tops Box Office, Slaying ‘Masters of the Universe’ and Adding to Low-Budget Streak

(L-R) US actor/producer/writer Shawn Wayans, US actor Anthony Anderson and US actor/producer/writer Marlon Wayans attend Paramount's "Scary Movie" premiere at the Paramount theater in Los Angeles on June 3, 2026. (AFP)
(L-R) US actor/producer/writer Shawn Wayans, US actor Anthony Anderson and US actor/producer/writer Marlon Wayans attend Paramount's "Scary Movie" premiere at the Paramount theater in Los Angeles on June 3, 2026. (AFP)
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‘Scary Movie’ Tops Box Office, Slaying ‘Masters of the Universe’ and Adding to Low-Budget Streak

(L-R) US actor/producer/writer Shawn Wayans, US actor Anthony Anderson and US actor/producer/writer Marlon Wayans attend Paramount's "Scary Movie" premiere at the Paramount theater in Los Angeles on June 3, 2026. (AFP)
(L-R) US actor/producer/writer Shawn Wayans, US actor Anthony Anderson and US actor/producer/writer Marlon Wayans attend Paramount's "Scary Movie" premiere at the Paramount theater in Los Angeles on June 3, 2026. (AFP)

The summer box office is booming — but not because of the usual suspects.

After three weeks of indie horror dominance at the box office, the slasher spoof “Scary Movie” topped ticket sales with $55 million over the weekend, according to studio estimates Sunday, easily besting the far-from-mighty “Masters of the Universe.”

A new order has lately come to movie theaters, which have seen Gen Z ticket buyers flock to the horror hits “Obsession” and “Backrooms,” both made by YouTubers-turned-filmmakers. Those movies have even outshone The Walt Disney Co.’s “Star Wars: The Mandalorian and Grogu.”

This weekend, comedy was the underdog champ. Though the genre has been all but left for dead in theaters, the sixth “Scary Movie” notched a franchise-best $105.5 million global launch. The Wayans brother comedy even outdid its primary satirical target, the “Scream” franchise. Earlier this year, “Scream 7” debuted with $97 million worldwide.

Both franchises are distributed by Paramount Pictures, though Miramax produced the new “Scary Movie.” Co-written by Marlon, Shawn, Keenan and Craig Wayans, the sequel marks the Wayans’ return to the franchise after their departure over creative differences following 2001’s “Scary Movie 2.”

“This is an outstanding opening for a comedy sequel this far into the series,” said David A. Gross, who runs the movie consulting firm FranchiseRe. "It’s a huge bounceback after the last episode crashed in 2013 when Anna Faris and Regina Hall were excluded. The weekend figure is triple the average for the genre.”

Reviews weren’t good (26% fresh on Rotten Tomatoes) and audience scores (a “B” CinemaScore) were so-so. But that didn’t stop the $30-million “Scary Movie” from dominating its much bigger budget competition.

“Masters of the Universe,” a sword and sorcery action adventure based on the 1980s animated series and Mattel toys, failed to revive the dormant franchise. The Amazon MGM release, the second “Masters of the Universe” film following a 1987 movie of the same title, opened with $29.3 million domestically.

“Masters of the Universe,” starring Nicholas Galitzine as He-Man, added $25 million overseas. But for a film that cost nearly $200 million to produce, a much higher launch was needed to make profitability likely.

It’s Mattel Studios’ first release since 2023’s “Barbie.” But after the extraordinary $1.45 billion success of that film, “Masters of the Universe” will be closer to a flop for the toy company.

A24’s “Backrooms,” last weekend’s top release, slid steeply on its second weekend, dropping 68% with $25.9 million. But “Backrooms,” a $10 million movie based on 20-year-old Kane Parson’s YouTube series remains a record-breaking phenomenon. It's now A24’s highest grossing film ever with $212 million worldwide, moving ahead of “Marty Supreme."

In a near tie for third place, Focus Features’ “Obsession” grossed $25.6 million in its fourth weekend. That marked a paltry 7% drop from the previous weekend for 26-year-old Curry Barker’s horror sensation. Not accounting for inflation, no horror movie has ever had a better fourth weekend.

“Obsession,” about a man who wishes his crush returned his affections, was made for less than $1 million. It’s now grossed $152.1 million domestically and $224.8 million worldwide — a record for Focus.

In its third weekend, “The Mandalorian and Grogu” fell all the way to sixth place with $10 million. It was even bested by Fathom Entertainment’s “The Amazing Digital Circus: The Last Act,” a combination of the last two episodes of the animated series. It collected $12.7 million.

A few other movies hit milestones.

Lionsgate’s Michael Jackson biopic “Michael” became the studio’s highest grossing film ever with $898 million globally. That puts it ahead, not accounting for inflation, both the highest grossing entries in the studio’s “Twilight” and “Hunger Games” franchises.

And 2026 got its first billion-dollar movie. “The Super Mario Galaxy Movie” crossed $1 billion worldwide for Universal.

The weekend overall was up a remarkable 63% from the same weekend last year, according to Comscore. Ticket sales on the year are up more than 13%. Next weekend, Steven Spielberg’s “Disclosure Day” debuts.

Entertainment

US Gamers Getting Older as Industry Reports Growth

People play Mario Kart World during a launch event ahead of the midnight release of the Nintendo Switch 2 at the Nintendo New York store on June 4, 2025. (AFP)
People play Mario Kart World during a launch event ahead of the midnight release of the Nintendo Switch 2 at the Nintendo New York store on June 4, 2025. (AFP)
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US Gamers Getting Older as Industry Reports Growth

People play Mario Kart World during a launch event ahead of the midnight release of the Nintendo Switch 2 at the Nintendo New York store on June 4, 2025. (AFP)
People play Mario Kart World during a launch event ahead of the midnight release of the Nintendo Switch 2 at the Nintendo New York store on June 4, 2025. (AFP)

Video games are having a moment in the United States -- but the players are getting older.
The average American video game player is now 37 years old -- up from 29 about two decades ago -- as the industry reports activity climbing back to their highest levels since the pandemic-era boom, a new report reveals.
The findings, from the Entertainment Software Association's annual Essential Facts report, challenge enduring stereotypes about who plays games while underscoring the industry's recovery from a post-pandemic slowdown.
"It mirrors in large part the demographics of the nation," ESA president and chief executive Stanley Pierre-Louis told AFP, noting that more than half of all players in the United States are now 35 or older.
The steadily rising average player age reflects both the aging of a generation that grew up with consoles and a wave of older adults who have since picked up the hobby.
The gender split also defies the stereotypical image of the young male gamer.
Men account for 53 percent of players and women 46 percent, with women actually outnumbering men among Baby Boomers, the ESA said.
Overall, 67 percent of Americans play video games for at least an hour a week -- a figure broad enough to encompass everything from blockbuster console titles to casual mobile games like Wordle.
Revenues -- totaling $60.7 billion in 2025 -- have rebounded to their highest point since 2021, when pandemic lockdowns drove an outsized surge in both players and spending.
After a pullback as restrictions lifted, the industry has returned to growth, Pierre-Louis said.
- Self-regulation -
As lawmakers in the United States and Europe weigh tougher regulations on screen time, age verification and in-game spending, Pierre-Louis argued the US gaming industry's track record of voluntary self-regulation sets it apart.
That voluntary framework, he said, has given the industry credibility with US lawmakers that social media platforms lack.
Those platforms, he noted, "traditionally didn't have the same level of parental tools that video games had" -- a gap that has fueled the regulatory backlash now engulfing companies such as Meta and TikTok.
"Safety is not a competitive issue in our industry -- it's one of collaboration," Pierre-Louis said.
"Being on the ecosystem and staying on the ecosystem means you feel like you're in a trusted environment."
- 'Satisfaction' -
The ESA was founded in 1994 partly in response to congressional concern over violent content in games, and almost immediately established the Entertainment Software Rating Board, which assigns age ratings from E for Everyone to M for Mature for titles sold in North America.
The system also flags details about online interactions and in-game purchases.
Major console platforms including Xbox, PlayStation and Nintendo Switch now offer parental control tools that allow families to restrict what games children can access, cap spending and limit screen time -- capabilities Pierre-Louis said have been refined over decades in direct response to parent and policymaker feedback.
The argument, however, faces increasing pushback in the United States.
The gaming industry is facing growing scrutiny as platforms expand into social media-like features, with ESA member Roblox especially under pressure over child safety issues with regulators and in courts.
Legislative proposals range from mandatory age verification for games with chat features to bills that would impose national safety standards.
For the industry, such legislation should not be necessary.
"It's a matter of how do we get everyone up to speed on what the video game industry has been doing, so that there's satisfaction around the practices and trust and safety mechanisms we have in place," Pierre-Louis said.