Anghami Delivers Strong Growth Across Video and Music Service in 2024 with 28% growth in streaming engagement
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ABU DHABI, UAE, Nov. 14, 2024 /CNW/ -- Anghami (NASDAQ: ANGH), the leading multi-media streaming platform in the MENA region, announced substantial growth in user engagement and significant operational achievements, reinforcing its position as the region's premier entertainment destination.
Strong Performance Metrics and Operational Excellence
Anghami has achieved significant cost synergies, while simultaneously driving an 18% increase in Average Revenue Per User (ARPU) on the direct base. Video streaming engagement has shown exceptional momentum, with total hours watched surging by 28% during January-September 2024 compared to the same period in 2023.
Elie Habib, CEO of Anghami & OSN+, commented, "Our strong performance this quarter, marked by an 18% ARPU increase on direct subscribers and 28% growth in streaming engagement, showcases the success of our integrated entertainment strategy. Through premium content expansion across both video and music, as well as technical innovation like DolbyVision and DolbyAtmos, we're elevating how the MENA region experiences digital entertainment."
Strategic Initiatives Driving Growth
OSN+ growth strategy encompasses several key initiatives:
Technical Innovation and Enhanced User Experience
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Implementation of sophisticated improvements in the AI recommendation engine, particularly for new users, resulting in a 20% engagement increase.
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Leading the region's streaming technology with the introduction of DolbyVision and DolbyAtmos, as the first local service to offer these premium viewing experiences.
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Launch of a pioneering Apple Vision Pro application in collaboration with Apple coinciding with the UAE release.
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Expansion of 4K premium payment options through major regional telcos including STC KSA, Mobily KSA, DU UAE, and Etisalat UAE.
Game-Changing Value Tier Launch: Revolutionizing content accessibility with our new Standard with Ads package, unlocking premium entertainment for a broader audience while maintaining our signature high-quality streaming experience. This strategic move opens new revenue streams while democratizing access to our extensive content library.
Content Excellence and Future Programming
Strong performance from premium content including "The Penguin" starring Colin Farrell and "FROM" Season 4 have paved the way for an exciting upcoming slate:
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"The Day of the Jackal" starring Eddie Redmayne, premiering November 15, is a high-stakes thriller that weaves suspense and precision into a riveting story of espionage and assassination.
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"Dune: Prophecy" series, launching November 18, delivers a grand, immersive journey into the Dune universe, filled with epic landscapes, intricate political intrigue, and deep-rooted prophecy.
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"The Fashionista" series, launching in early 2025, OSN+'s first original drama-comedy mini-series, shot in Kuwait and explores social media fame.