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Digital Economy

Anghami’s 2022 revenue up 35.6% to $48.1m; subscribers up 21% to 1.5 million

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NASDAQ-listed music streaming service Anghami, which serves the Middle East and North Africa (MENA, posted revenue of $48.1 million for 2022, an increase of 35.6% compared to 2021.

The service did not disclose its profits or losses. In a statement, the company said it "aims to achieve profitability in 2023 by building on the momentum of its focus on efficiency, as reflected in its improvement in gross margin in H2 2022."

The Abu Dhabi-based service ended 2022 with 1.52 million total payin...

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Emmanuel is a Washington, DC-based freelance journalist, blogger and media consultant, specialising in the entertainment business and cultural trends. He was the US editor for British music industry trade publication Music Week. Previously, he was the editor of Impact, a magazine for the music publishing community (2007-2009), the global editor of US trade publication Billboard (2003-2006), and the editor in chief of Billboard’s sister publication Music & Media (1997-2003).

Creative Industries

Music deals — Week 14, 2024

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Here is a list of some of the main music deals announced in the past week:

Rock band KISS have signed an agreement with Pophouse which will give the Swedish entertainment and music investment firm ownership of KISS’ artist share of the master recordings and publishing rights. Financial terms of the transaction were not being disclosed but AP estimated that the deal was “over $300 million.” The transaction is subject to certain conditions and regulatory approvals. “Working closely with...

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Creative Industries

Quotes of the week — Week 14, 2024

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"Music makers already know what music lovers are just now learning: TikTok is the worst, most exploitative streaming platform for music, anywhere (and that’s saying something). The vast majority of music on TikTok generates virtually no revenue for the musicians who made it, and even more music on the platform is completely unlicensed (stolen), copied (stolen via AI), or pirated (stolen). Simply put, TikTok is trying to build a music-based business without paying music makers fair value for the...

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Creative Industries

Key figures — Week 14, 2024

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43.2 billion

That's the total number of times the songs in Spotify's list of “the 100 greatest R&B songs of the streaming era“ have been streamed on the platform since 2015, according to MusicAlly.

$40 billion

That's the EBITDA posted by TikTok parent ByteDance in 2023, out of a turnover of over $120bn, according to a Bloomberg report.

$2.9 billion

That's how much France's pay-TV company Canal+, part of Vivendi, is offering to acquire African broadcaster MultiChoice...

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