Anghami Lab to Launch Across The Middle East Soon
The UAE-based music streaming platform Anghami Lab has announced that any music created in the Anghami Lab will stream exclusively on Anghami. It is a joint venture with Addmind, a hospitality-focused business. The first Anghami Lab will launch in the heart of Dubai, with locations in Abu Dhabi, Riyadh, Jeddah, Cairo, Beirut, Doha, London, New […]
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The UAE-based music streaming platform Anghami Lab has announced that any music created in the Anghami Lab will stream exclusively on Anghami. It is a joint venture with Addmind, a hospitality-focused business. The first Anghami Lab will launch in the heart of Dubai, with locations in Abu Dhabi, Riyadh, Jeddah, Cairo, Beirut, Doha, London, New York, and Los Angeles arriving soon.
“Addmind is a leading expert in conceptualizing and operating hospitality spaces and this is a great opportunity to further reinforce the value we provide digitally to be converged offline in a unique user-to-guest experience,” said Eddie Maroun, Co-Founder and CEO, Anghami.
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“[The company] is more than just a streaming platform, they have elevated the value of the music industry in the Middle East as a whole,” said Tony Habre, CEO, Addmind. “Anghami Labs is an amazing and unique concept that embodies our rich Arab culture with an international twist – which we are thrilled to bring to fruition and scale.”
Anghami will be the first Arab tech company with a U.S. public listing. The platform is regarded as a competitor to Spotify in the Middle East North Africa (MENA) region. It has more than 70 million registered users and license deals with Universal Music Group, Sony Music Group, and Warner Music Group in place.
Through a special purpose acquisition company, Anghami merged publicly with Vistas Media. The company raised $100 million in a 2020 IPO. The deal values Anghami at around $220 million and includes a $40 million financial commitment.
