Anghami, the streaming platform in the Middle East and North Africa (MENA), has acquired events and concert company Spotlight Events.
The promoter specialises in managing and delivering live events and concerts in the region.
The partnership will see Spotlight Events become Anghami's arm for live events and concerts. In a statement, the company said the deal will “further expand Anghami's footprint in the music and entertainment ecosystem while unlocking synergies and opportunities between the physical and digital worlds”.
Anghami's technology is set to provide access to exclusive concerts through its livestreaming capabilities, as well as creating immersive experiences through AR and VR.
“The strategic partnership will enable Anghami to unlock opportunities between artists and brands, enriching music fans' experiences with exclusive access to private concerts, VIP lounges, meet & greets and backstage access, in addition to attending concerts either offline or streamed through their devices,” added the statement.
Eddy Maroun, co-founder and CEO of Anghami, said: “Our vision is to expand from music streaming to a fully integrated entertainment platform that meets our goal of building our own unique category that no other provider can compete with. This partnership will allow us to deliver unique experiences to our users while giving artists a stage to perform and reach their fans physically and virtually.
“Spotlight and Anghami Lab are among a number of initiatives we plan to develop as new business extensions to accelerate our growth and improve our margins while widening the gap with our competitors. Maher has built a great business on solid economics and has proven that live concerts and events are a scalable and profitable business.”
Spotlight Events has recently confirmed its programme of upcoming concerts and events in Dubai, Abu Dhabi, Paris, Cairo and Riyadh, including Arab superstar Wael Kfoury in Paris. Spotlight will also be executing all of Anghami's events, including Amr Diab Live and others to be unveiled soon.
Maher Khawkhaji, founder and CEO of Spotlight, said: “Anghami is the largest music platform in the MENA region with an incredible number of users and a unique network of partnerships that, once connected to Spotlight, will open doors to amazing opportunities. Our offline expertise, complemented by Anghami's reach, data and technical capabilities, is the perfect recipe for success. We look forward to being part of this dynamic team and unleashing the incredible potential to bring the best to music fans, artists and brands and take entertainment to the next level.”
The announcement follows Anghami's recent IPO on the Nasdaq exchange - the first Arab tech company to list on the US stock market.
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