Anghami : The symphony of a Lebanese success story
From beginnings to success
The Anghami story began in Lebanon in 2012, at a time when access to music in the MENA region was not yet fully democratized, and in an industry dominated by illegal downloading practices and a lack of suitable offerings. Faced with this reality, Eddy Maroun and Elie Habib came up with the idea of creating a legal platform that would offer an accessible alternative while promoting local artists. Yet the beginnings were not easy. Initial funding came largely from the co-founders' personal savings and a few regional investors convinced by the market potential and the founders' vision. However, with a small team and limited resources, Anghami successfully launched its first version within a few months of its creation. What set Anghami apart from the start was its ability to adapt to the cultural specificities of the region, and thus to understand its users' needs in depth. By integrating features such as offline downloading for areas with low connectivity, or featuring personalized playlists by country, the startup quickly succeeded in finding its market.
Since its creation, Anghami has come a long way. Today, the platform boasts over 100 million registered users, with a rich music catalog of over 125 million songs and podcasts. What's more, the startup is posting average annual growth of 40%, a gargantuan figure that testifies to its relevance in a constantly evolving market. According to Eddy Maroun, "The success of this partnership is a testament to the power of collaboration and innovation. With this new investment from OSN Group, we are poised to elevate the digital entertainment experience for MENA audiences even further and expand our reach."
A strategic vision for growth
Now it's time for Anghami to accelerate its growth. Nevertheless, the fund-raising with OSN goes far beyond financial support. OSN, a major player in television and digital streaming in the MENA region, sees in Anghami a strategic platform for expanding its digital ecosystem. This partnership paves the way for a collaboration aimed at integrating enriched video content into Anghami's offering. The aim is to offer a multimedia experience that combines music, video and live performances.
The $55 million raised will be used to reinforce several of Anghami's growth axes, notably with the expansion of the user content library. In addition to growing the user base, the startup plans to optimize the technologies used to personalize the customer experience. To achieve this, Anghami will also invest heavily in artificial intelligence to improve its music recommendation algorithms. The focus will be on user engagement through personalized playlists and innovative features. At the same time, production of exclusive local content will be stepped up, with greater support for emerging artists and original creations. Anghami also plans to strengthen its presence at live events, enabling users to enjoy immersive experiences that combine music and social interaction. This initiative is aimed at building loyalty among the young audience that forms the core of its user base.
But Anghami isn't just a successful start-up; it's also inspiring a new generation of entrepreneurs in the MENA region. Its success embodies the bright, entrepreneurial spirit of the region's new wave of entrepreneurs. It is proof by example that, as it grows, an Oriental start-up can compete with the world's market giants.
Sources :
https://www.wamda.com/2024/12/anghami-wraps-2024-additional-55-million-investment-osn
