Anghami – Revolutionizing Music in the MENA Region
| Case Code: LDEN211 Case Length: 14 Pages Period: 2012-2020 Pub Date: 2024 Teaching Note: Available |
Price: Rs.400 Organization : Anghami Industry :Media Countries : United Arab Emirates Themes: Entrepreneurship, Business Models , Business Environment, |
Abstract Case Intro 1 Case Intro 2 Excerpts
Excerpts
Changing Tunes
The next revolution was iTunes from Apple that was started by Steve Jobs in 2001. iTunes’ highly functional software enabled easy uploading, organizing, and playing of music. Customers started using iTunes to sort and arrange the music they already had..
Music in Mena
Mobile phones became popular in the Middle East in the early 2000s and popular tunes could be played for call alert. At that time, Habib, a software engineer, met Maroun, who was a skilled musician. Habib asked Maroun to compose small tunes, which he turned into ringtones for mobile phones..
Building the Catalogue
In late 2011, they met Walid Mansour (Mansour), Managing Partner at Middle East Venture Partners, a Lebanon-based Venture Capital firm. Mansour said, “All they had was a piece of paper, a signed contract with Rotana..
Initial Challenges and Growth
One of the challenges Anghami faced was the low penetration of the Internet in the MENA Region. At that time, internet penetration was only 25% in more than half of the countries in the region..
Music for Mena
The global diaspora from MENA stood at 660 million, and was considered as one of the fastest growing populations. Of the diaspora, 45% were between 10 and 35 years of age. The audio streaming penetration in the region was quite low compared to the US where it stood at 35%..
The Business of Music
Anghami operated with a revenue model that had three revenue segments. First was the subscription model, Anghami+ where users had to pay US$ 4.99 per month or US$ 44 per year to subscribe for the service. Another way was through advertisements. The advertisements were played for those who streamed the service for free..
Nasdaq Listing
Since it started, Anghami had raised US$ 26 million from different investors. Some of these investors were Middle East Venture Partners, Samena Capital, Emirates Integrated Telecommunications Co.,..
Looking Ahead
The MENA market for music was expected to grow at a CAGR of 16.5% between 2019 and 2027. Several counties were encouraging music by conducting music-based events like Beirut and Beyond in Lebanon..
Exhibits
Exhibit I: About SPAC
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