The Arab music industry has long been plagued by rampant music piracy, but that has not stopped music streaming platforms from aggressively moving into the region over the past few years.
Now the region’s largest local player, Anghami, is making moves to solidify its position as a top destination for music listeners in the Middle East and North Africa.
The Abu Dhabi-based company became the first Arab tech company to list on the Nasdaq on Wednesday after agreeing to merge with publicly listed Vistas Media Acquisition Company.
The deal will bring an injection of $40 million to Anghami, which has more than 70 million registered users and partnerships with Universal Music Group and Warner Music Group.
Founded by Lebanese entrepreneurs Eddy Maroun and Elie Habib, Anghami (“My Melody” in English) launched in 2012 in Beirut and now … Read the rest