SRMG Ventures, the venture capital arm of Ryadh-based conglomerate Saudi Research and Media Group, has announced a small but significant $5 million investment in Anghami, which is the Arab world…
SRMG Ventures in a statement said that, besides the investment, it will be providing the Middle East music and entertainment streamer its “extensive media reach, content library and portfolio of leading assets in audio/podcasts.” It claims this will enable Anghami to snag a larger share of the fast-growing music streaming sector expected to “reach $700 million in the Middle East and North Africa in 2026.
Since its launch, Anghami has expanded its portfolio beyond music streaming. It now provides in-house productions, branded music and video content, concerts and live events, as well as a record label for Arab artists and podcasts. Its investment in Anghami is clearly in synergy with its prior Billboard investment and part of a broader strategy.
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