Anghami Inc Reports 97% Revenue Growth Tied to Warner Bros. Partnership
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 31 2025
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Source: Benzinga
- Significant Revenue Growth: Anghami reported a revenue of $48.4 million for the first half of 2025, marking a 97% year-over-year increase, primarily driven by the integration with OSN+ and $43 million in subscription income, indicating strong market demand in the MENA region.
- User Base Expansion: The number of paying subscribers doubled to 3.54 million, with total registered users exceeding 120 million, demonstrating significant progress in attracting new users and enhancing market competitiveness.
- Integration Cost Pressure: Despite substantial revenue growth, Anghami incurred a loss of $37.1 million, largely due to acquisition and integration expenses related to OSN+, which may impact margins in the short term, necessitating attention to future cost controls and scale benefits.
- Market Outlook: Management anticipates continued revenue growth in the second half, but integration costs will pressure margins, with a market value around $21 million, prompting investors to weigh rapid growth against ongoing losses and execution risks.
Analyst Views on ANGH
About ANGH
Anghami Inc is a United Arab Emirates based company that provides digital music entertainment technology platform in the Middle East and North Africa (MENA). The Company has catalog comprising more than 72 million songs and licensed content from Arabic labels, independent artists, and distributors, available for more than 75 million users. The Company also features music from the international labels such as Universal, Sony and Warner. The Company's services are available in English, Arabic and French. It has offices in Beirut, Dubai, Cairo and Riyadh and operates in 16 countries across MENA.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
