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

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.



Gaga, Green Day, Post Malone Primed to Headline Sweltering Coachella

Lady Gaga. (AFP/Getty Images)
Lady Gaga. (AFP/Getty Images)
TT
20

Gaga, Green Day, Post Malone Primed to Headline Sweltering Coachella

Lady Gaga. (AFP/Getty Images)
Lady Gaga. (AFP/Getty Images)

Music fans were descending on California's Coachella Valley for the premier arts festival that begins Friday and features headliners Lady Gaga, Green Day and Post Malone.

The opening day promises to be a scorcher, quite literally; a dome of high pressure is triggering a mini heat wave in southern California, with meteorologists predicting the temperature could crack 100 degrees Fahrenheit (37.8 degrees Celsius).

Organizers are urging the tens of thousands expected to arrive at the poorly shaded festival grounds to stay hydrated and use sunscreen as they gather to see other day-one lineup highlights including rapper Missy Elliott, Australian electropop band Parcels, and a rare stateside appearance from British punk ravers The Prodigy.

The sprawling desert weekend marks the unofficial start of music festival season, which Lady Gaga is priming to kick off with a bang. Fresh off the release of her latest album "Mayhem," the pop superstar has vowed "a massive night of chaos."

"Can't wait to hear you all singalong and dance dance DANCE till we drop," she posted when the lineup was announced.

South African star Tyla is also slated to perform Friday, one year after an injury forced her to pull out of the 2024 festival.

"Had many opportunities to go but swore to myself that the first time I go to Coachella, imma be performing... and look now!" she wrote on X when the lineups were announced last year.

And Blackpink's Lisa -- fresh off a role in HBO's hit show "White Lotus" -- will perform on her own Friday night, having twice taken the Coachella stage with her bandmates.

Later in the weekend Charli XCX is expected to turn the grounds her signature "brat" green, after a blockbuster year that saw her latest album propel her to new echelons of fame.

Travis Scott will play a special guest slot following Green Day's Saturday set, years after the hip-hop performer was slated to headline the 2020 festival, which was ultimately scrapped due to the Covid-19 pandemic.

- Rock revival -

Fresh off a Grammy win, Venezuelan band Rawayana is also primed to play a top slot on Saturday.

And celebrity conductor Gustavo Dudamel notably will lead the Los Angeles Philharmonic in a sunset concert.

There have been orchestral performances at Coachella before -- film composers Danny Elfman and Hans Zimmer were showcased over the past decade -- but Saturday's performance will be the first time a major professional orchestra has played there.

Hip-hop superstar Megan Thee Stallion will helm the main stage Sunday ahead of Post Malone's headlining performance, with Ty Dolla $ign also set to perform.

Also on Sunday French duo Polo & Pan will bring their tropicalia-infused electro set back to the Coachella Valley.

German electronic pioneers Kraftwerk are another draw, as are two of the 2025 Best New Artist Grammy nominees, Shaboozey and Benson Boone.

And while Coachella has leaned decidedly pop over the past decade, the 2025 edition will get back to the festival's rock roots.

Along with Green Day, rock acts including The Go-Gos, the original Misfits, Jimmy Eat World, and cult punk legends the Circle Jerks are slated to play.

"In this world gone sideways we know one thing for certain - rock 'n' roll is forever, and its spirit is needed now more than ever," said Green Day frontman Billie Joe Armstrong earlier this year in Billboard.

Coachella 2025 will take place on April 11-13 and 18-20.