Anghami, music and entertainment streaming platform in the Middle East and North Africa (MENA) acquired Spotlight Events, an event and concert company specialized in managing and executing live events and concerts in the region.
The partnership will make Spotlight Events Anghami’s arm for live events and concerts, including offline activities and activations.
Anghami’s technology will bridge the gap between the offline and online worlds by providing access to exclusive concerts through its live video streaming capabilities and creating immersive experiences through AR and VR.
“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 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,” Eddy Maroun, Co-founder and CEO of Anghami, stated.
The announcement follows Anghami’s recent IPO on Nasdaq to list on the US stock market and the unveiling their next phase of growth to evolve from a music streaming platform to an entertainment platform.
Read more: Anghami officially lists on US NASDAQ
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