Anghami, the music streaming rival to Spotify in the Arab world, reported an annual 23 per cent rise in first-quarter revenue, as the company strives to cut losses incurred last year.
Revenue for the three-month period to the end of March climbed to $9.3 million, driven by a rise in subscriber numbers, Abu Dhabi-based Anghami said in a statement on Wednesday.
Subscription revenue for the reporting period increased 26 per cent to $7.3m, with average revenue per unit jumping 10 per cent to $1.87.
Anghami's monthly premium subscribers rose 13 per cent to more than 1.5 million, while the number of paid monthly subscribers surged 43 per cent to more than 1.2 million, compared to the same three-month period for 2021.
“Total number of active users increased by 20 per cent year-over-year to 18.5 million in Q1 2022,” Anghami said. “Growth of users was driven by increased localisation … in Arabic and original content, an improved recommendation engine, unique social features and special activations in several countries.”
Revenue in 2021 climbed 16 per cent annually to $35.5m, on the back of its growing subscriber base.
The company’s premium subscribers rose 2 per cent year-on-year to 1.4 million at the end of 2021, driven by improved customer retention, the introduction of new subscription plans and smart billing enhancements, Nasdaq-listed Anghami said.
“2021 was a very special year for us, with many significant milestones leading up to our listing on Nasdaq, paving the way to achieve our growth goals that started to flourish in Q1 2022,” Eddy Maroun, co-founder and chief executive of Anghami, said.
Anghami, which listed its shares in February, posted an operating loss of $13.6m in 2021, as the company incurred “significant costs” to licence content and continues to pay royalties to music labels, publishers and other copyright owners for such content, it said in a US Securities and Exchange Commission filing.
Increased competition and the maturation of business might impact Anghami’s revenue growth rate in future, warned the company, which distributes its application through smartphone and tablet app download stores managed by Amazon, Apple, Google and Microsoft, among others.
“Certain of these companies are now, and others may in the future, become our competitors, and could stop allowing or supporting access to our service through their products, could allow access for us only at an unsustainable cost, or could make changes to the terms of access in order to make our service less desirable or harder to access, for competitive reasons,” Anghami said in the filing.
“Our ability to increase the number of users will depend, in part, on our ability to distribute our service, which may be affected by third-party interference beyond our control. The use of our service depends on the ability of our users to access the internet, our website and the Anghami app.
“Enterprises or professional organisations, including government agencies, could block access to the internet, our website, and the Anghami application for a number of reasons such as security or confidentiality concerns or regulatory reasons that could adversely impact our user base,” it added.
In 2021, Anghami partnered with Amazon Prime to offer its services to Prime members in the UAE and Saudi Arabia — and with Amazon Alexa to create an enhanced interactive experience for Amazon Echo device users.
We are confident that this positive development will continue through 2022 as we benefit from our growing partnerships and offerings
F Jacob Cherian,
co-chief executive of Anghami
The company said its advertising revenue grew 70 per cent to $9.8m last year, with advertising gross margin growing from 38 per cent in 2020 to 53 per cent in 2021.
“We expect ad-supported segment revenues to recover driven by a return to advertising spending by leading brands. In addition, we believe a strong growth in ads will come in the form of branded content and direct ads rather than the traditional agency model,” Anghami said in the SEC filing.
With the addition of content from Saudi Arabian entertainment company Rotana, exclusive material from Egyptian superstar Amr Diab — the most streamed Middle Eastern artist — and the partnerships with Sony and Amazon, Anghami expects to tap into new market segments that were not previously reachable, it added.
“This will help us grow our base and ultimately continue growing our premium subscribers. The increase in premium subscribers will result in growth of subscription revenues.”
Anghami, which has expanded its partnerships with 41 telecom operators across the region, established its global base and research and development centre in Abu Dhabi Global Market last year, as part of the Abu Dhabi Investment Office's $545m innovation programme partnership.
Adio has provided Anghami with financial and non-financial incentives to set up at ADGM, allowing it access to a competitive talent pool and established infrastructure.
The company remains committed to launching more innovative offerings, expanding its global reach and delivering value to customers.
“We are confident that this positive development will continue through 2022 as we benefit from our growing partnerships and offerings,” F Jacob Cherian, co-chief executive of Anghami, said.
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
Martin Sabbagh profile
Job: CEO JCDecaux Middle East
In the role: Since January 2015
Lives: In the UAE
Background: M&A, investment banking
Studied: Corporate finance
Killing of Qassem Suleimani
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Green ambitions
- Trees: 1,500 to be planted, replacing 300 felled ones, with veteran oaks protected
- Lake: Brown's centrepiece to be cleaned of silt that makes it as shallow as 2.5cm
- Biodiversity: Bat cave to be added and habitats designed for kingfishers and little grebes
- Flood risk: Longer grass, deeper lake, restored ponds and absorbent paths all meant to siphon off water
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5 of the most-popular Airbnb locations in Dubai
Bobby Grudziecki, chief operating officer of Frank Porter, identifies the five most popular areas in Dubai for those looking to make the most out of their properties and the rates owners can secure:
• Dubai Marina
The Marina and Jumeirah Beach Residence are popular locations, says Mr Grudziecki, due to their closeness to the beach, restaurants and hotels.
Frank Porter’s average Airbnb rent:
One bedroom: Dh482 to Dh739
Two bedroom: Dh627 to Dh960
Three bedroom: Dh721 to Dh1,104
• Downtown
Within walking distance of the Dubai Mall, Burj Khalifa and the famous fountains, this location combines business and leisure. “Sure it’s for tourists,” says Mr Grudziecki. “Though Downtown [still caters to business people] because it’s close to Dubai International Financial Centre."
Frank Porter’s average Airbnb rent:
One bedroom: Dh497 to Dh772
Two bedroom: Dh646 to Dh1,003
Three bedroom: Dh743 to Dh1,154
• City Walk
The rising star of the Dubai property market, this area is lined with pristine sidewalks, boutiques and cafes and close to the new entertainment venue Coca Cola Arena. “Downtown and Marina are pretty much the same prices,” Mr Grudziecki says, “but City Walk is higher.”
Frank Porter’s average Airbnb rent:
One bedroom: Dh524 to Dh809
Two bedroom: Dh682 to Dh1,052
Three bedroom: Dh784 to Dh1,210
• Jumeirah Lake Towers
Dubai Marina’s little brother JLT resides on the other side of Sheikh Zayed road but is still close enough to beachside outlets and attractions. The big selling point for Airbnb renters, however, is that “it’s cheaper than Dubai Marina”, Mr Grudziecki says.
Frank Porter’s average Airbnb rent:
One bedroom: Dh422 to Dh629
Two bedroom: Dh549 to Dh818
Three bedroom: Dh631 to Dh941
• Palm Jumeirah
Palm Jumeirah's proximity to luxury resorts is attractive, especially for big families, says Mr Grudziecki, as Airbnb renters can secure competitive rates on one of the world’s most famous tourist destinations.
Frank Porter’s average Airbnb rent:
One bedroom: Dh503 to Dh770
Two bedroom: Dh654 to Dh1,002
Three bedroom: Dh752 to Dh1,152
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
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The specs
Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder
Power: 220 and 280 horsepower
Torque: 350 and 360Nm
Transmission: eight-speed automatic
Price: from Dh136,521 VAT and Dh166,464 VAT
On sale: now
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Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
Mohammed bin Zayed Majlis
Mohammed bin Zayed Majlis
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About Karol Nawrocki
• Supports military aid for Ukraine, unlike other eurosceptic leaders, but he will oppose its membership in western alliances.
• A nationalist, his campaign slogan was Poland First. "Let's help others, but let's take care of our own citizens first," he said on social media in April.
• Cultivates tough-guy image, posting videos of himself at shooting ranges and in boxing rings.
• Met Donald Trump at the White House and received his backing.
The bio
Who inspires you?
I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist
How do you relax?
Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.
What is favourite book?
The Perks of Being a Wallflower - I think I've read it more than 7 times
What is your favourite Arabic film?
Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki
What is favourite English film?
Mamma Mia
Best piece of advice to someone looking for a career at Google?
If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.
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