Anghami is a music streaming mobile application that offers music enthusiasts the opportunity to listen to a wide variety of Arabic and English tracks from the convenience of a mobile phone. Anghami’s music library features licensed content from leading Arabic labels such as Rotana and Mazzika, as well as from major international labels including Sony, Warner, and Universal. With the music streaming market valued at US$1 billion and growing, Anghami is well poised to capitalize on the trend in the underserved MENA market.
Anghami provides access to over four million international and Arabic-language songs through its convenient, user-friendly mobile app, available for download on iPhone, Android, Blackberry, and Nokia devices. The app is available in both freemium and premium versions. Just eight months after its launch, Anghami was streaming 2.5 million tracks per day to three million users. Strong partnerships with leading music labels and the region’s largest media group, MCB, have enabled the company to gain significant traction with little direct investment in advertising.
The entrepreneurs have amassed a growing network of paid subscribers through partnerships with five telecom operators, which provide the app as a value-added service to mobile phone subscribers in three countries. The company now faces a similar challenge as other music streaming apps – converting free users to paid subscribers. In order to convert more of its millions of free users to premium ones, the company has launched a limited version of the premium app for US$1. Since its launch, the company has raised US$1million in VC and is in the process of finalizing a second round of funding.
Elie and Eddy’s knowledge of regional preferences has helped them to achieve traction and profitability in an intensely competitive market. The duo now seeks guidance from Endeavor to steer the company through the next stage of growth, one riddled with challenges in monetization, marketing, and corporate governance.
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