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.



'Thunderbolts’ and ‘Sinners’ Top Box Office Charts Once More

Lewis Pullman, from left, Geraldine Viswanathan, Hannah John-Kamen, Julia Louis-Dreyfus, Florence Pugh, Wyatt Russell, and Jake Schreier attend the Walt Disney Studios special screening of "Thunderbolts" at IPIC Fulton Market on Wednesday, April 30, 2025, in New York. (Photo Christopher Smith/Invision/AP)
Lewis Pullman, from left, Geraldine Viswanathan, Hannah John-Kamen, Julia Louis-Dreyfus, Florence Pugh, Wyatt Russell, and Jake Schreier attend the Walt Disney Studios special screening of "Thunderbolts" at IPIC Fulton Market on Wednesday, April 30, 2025, in New York. (Photo Christopher Smith/Invision/AP)
TT
20

'Thunderbolts’ and ‘Sinners’ Top Box Office Charts Once More

Lewis Pullman, from left, Geraldine Viswanathan, Hannah John-Kamen, Julia Louis-Dreyfus, Florence Pugh, Wyatt Russell, and Jake Schreier attend the Walt Disney Studios special screening of "Thunderbolts" at IPIC Fulton Market on Wednesday, April 30, 2025, in New York. (Photo Christopher Smith/Invision/AP)
Lewis Pullman, from left, Geraldine Viswanathan, Hannah John-Kamen, Julia Louis-Dreyfus, Florence Pugh, Wyatt Russell, and Jake Schreier attend the Walt Disney Studios special screening of "Thunderbolts" at IPIC Fulton Market on Wednesday, April 30, 2025, in New York. (Photo Christopher Smith/Invision/AP)

Marvel’s “Thunderbolts” and Ryan Coogler’s “Sinners” dominated the North American box office charts again this weekend.
Now in their second and fourth weekends respectively, the two films had some new competition, including a horror movie, a Kerry Washington action pic, a Josh Hartnett airplane thriller, and a Shakespeare-inspired musical. None of the additions made a significant impact.
“Thunderbolts” took first place, with $33.1 million from theaters in the US and Canada, according to studio estimates Sunday. That's down 55% from its opening, The Associated Press reported. Internationally, it added $34 million, bringing its global total to $272.2 million. In just two weekends, the Walt Disney Co. release is already the fourth biggest of the year, globally and domestically.
The movie is also faring better than the previous Marvel movie, “Captain America: Brave New World,” which took a big 68% dive in its second weekend. The key difference was reviews, which don’t always dictate the fate of superhero movies, but good word of mouth has helped “Thunderbolts.”
“The holding power of this film harkens back to the heyday of Marvel,” said Paul Dergarabedian, the senior media analyst for Comscore. “The currency of the long-term playability is more important than the sheer opening weekends.”
The studio also has another big movie coming later this summer in “The Fantastic Four: First Steps.”
“Sinners,” meanwhile, crossed the $200 million mark in North American ticket sales this weekend, which is especially notable for an original R-rated movie. It added $21.1 million domestically, and $6.6 million internationally, bringing its global total to $283.3 million. Next weekend, it’s also returning to 70mm IMAX screens “by popular demand,” IMAX said.
Warner Bros.’ other juggernaut, “A Minecraft Movie,” has made $409 million domestically and $909.6 million globally in its six weekends in theaters. It added just under $8 million to take third place this weekend, followed by “The Accountant 2” in fourth with $6.1 million.
Several new movies also opened in wide release this weekend, but none seemed to break through the noise. The biggest of the bunch was “Clown in a Cornfield,” which earned $3.7 million (a relative high water mark for its distributor IFC) and cracked the top five.
“The second weekend in May, there is typically a bit of a lull,” Dergarabedian said. “IFC picked a perfect date for this clown to scare people into the theater."
“Shadow Force,” a Lionsgate action pic with Washington and Omar Sy from “The Grey” filmmaker Joe Carnahan, made $2 million from 2,170 screens. Vertical’s “Flight or Fight,” starring Hartnett as a mercenary on a plane full of assassins, also debuted with an estimated $2 million from 2,153 screens.
In limited release, the Tim Robinson and Paul Rudd movie “Friendship” launched on six screens in New York and Los Angeles and scored the best per-screen average of the year ($75,317) with many sellouts reported. A24 plans to expand the release nationwide over Memorial Day.
Overall, it was a relatively quiet weekend, but thanks to “A Minecraft Movie,” “Sinners” and “Thunderbolts,” the year-to-date box office is up around 16% from last year, according to Comscore data. Compared with 2019, however, it’s down over 32%.
Next week, “Final Destination: Bloodlines” should give the marketplace another jolt before two giants debut over the holiday weekend: “Lilo & Stitch” and “Mission: Impossible – The Final Reckoning.”