SRMG Ventures, the venture capital arm of SRMG, has announced a $5 million investment in Anghami, the leading music and entertainment streaming platform in the Middle East and North Africa (MENA) region.
SRMG Ventures will support Anghami's growth trajectory with its extensive media reach, content library and portfolio of significant audio and podcast resources. This will enable Anghami to capture a larger share of a fast-growing industry expected to reach $700 million by 2026.
Since its launch in 2012, Anghami has established itself as the region's leading music and entertainment streaming platform. With 120 million registered users, a large subscriber base and a catalog comprising over 100 million tracks, Anghami is the benchmark platform for Arabic and international music, podcasts and entertainment.
Source: Africa News Agency