Center East and North Africa-focused streaming platform Anghami has printed its preliminary Unaudited 2022 Outcomes.

The corporate stories that it ended 2022 with 1.52 million complete paying subscribers, a rise of 21% in comparison with 2021.

It additionally stories to have seen 20% progress in music streams in comparison with 2021, with Arabic music representing 60% of the platform’s complete streams.

Anghami says that it has 101 million registered customers.

When it comes to funds, in line with Anghami’s preliminary outcomes, the corporate generated complete income of $48.1 million in 2022, reflecting a rise of 35.6% YoY.

Anghami says that this progress got here “regardless of an unfavorable affect of international foreign money trade charges”.

Anghami additionally says {that a} give attention to “effectivity and profitability within the second half of 2022 resulted in a big enchancment in gross margin throughout all enterprise segments”.

The corporate revealed in November that it was decreasing its headcount by 22% as a part of a “sustained give attention to profitability”

“Given the affect of difficult macroeconomic circumstances, we needed to take some price disciplinary measures to enhance our bottom-line efficiency,” Eddy Maroun, CEO and co-founder of Anghami, mentioned on the time.

Anghami says that it goals to realize profitability in 2023.

Elsewhere in Anghami’s preliminary submitting, it reveals that it has established 47 telco partnerships in MENA to “facilitate buyer acquisition and subscription fee”.

The corporate additionally notes that it has offers in place with each Arabic and world music labels together with Rotana Music, Common Music Group, Sony Music Leisure, Warner Music Group and the Merlin Community.

Anghami additionally says that it’s launching “new companies” beginning in Might 2023. Commenting additional on these companies, Elie Habib, Chairman and co-founder of Anghami, mentioned that the corporate plans “to launch new companies that leverage each our distinctive consumer conduct information and our deep expertise credentials.“

Anghami says in its submitting that it’s “always rising its content material library by licensing and producing new and authentic content material”.

In December Anghami claimed that it’ll quickly turn out to be the primary platform to host over 200,000 songs generated by Synthetic Intelligence.

Anghami partnered with a generative music platform known as Mubert, which says it permits customers to create “distinctive soundtracks” for numerous makes use of similar to social media, displays or movies utilizing a million samples from over 4,000 musicians.

The partnership between the 2 firms was primarily based round an in-app activation to create so-called “musical soccer cheers”. In response to Mohammed Ogaily, VP Product at Anghami, the service had “generated over 170,000 songs, primarily based on three units of lyrics, three skills, and 2,000 tracks generated by AI”.

“Our capability to supply an distinctive consumer expertise and to ship the perfect music and leisure content material within the MENA area and past is mirrored in our robust monetary efficiency in 2022.“

Eddy Maroun, Anghami

Eddy Maroun, CEO and co-founder of Anghami, mentioned: “Our capability to supply an distinctive consumer expertise and to ship the perfect music and leisure content material within the MENA area and past is mirrored in our robust monetary efficiency in 2022.“

“Our complete workforce is concentrated on enhancing effectivity in addition to income technology.”

 Elie Habib, Anghami

Elie Habib, Chairman and co-founder of Anghami, added: “The unaudited gross revenue margin from paid subscriptions and ad-supported customers improved by 13 proportion factors in H2 2022 when in comparison with H1 2022.

“Our complete workforce is concentrated on enhancing effectivity in addition to income technology. Additionally, beginning in Might 2023, we plan to launch new companies that leverage each our distinctive consumer conduct information and our deep expertise credentials.“

Final month, it was reported by Billboard that Anghami is dealing with a copyright lawsuit over allegedly streaming unlicensed songs.

Music publishing firm PopArabia and its companion Reservoir Media reportedly filed the lawsuit on December 22 on the Abu Dhabi World Markets Court docket towards Anghami Applied sciences and its mother or father, Nasdaq-listed Anghami.Music Enterprise Worldwide