Anghami Inc (NASDAQ: ANGH)

Anghami Inc. is a digital entertainment platform that provides music and video streaming services across the Middle East and North Africa region. The company was founded in 2012 and operates the Anghami app for music streaming and the OSN+ app for video streaming. Its headquarters are located in Abu Dhabi and it maintains offices in Beirut, Dubai, Cairo and Riyadh. Anghami Inc. serves users in Algeria, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Sudan, Tunisia and the United Arab Emirates.

The company generates revenue primarily from subscriptions advertising and live events. Subscription revenue from Anghami Plus and OSN+ plans accounted for approximately 90% of total revenue in the fiscal year ended December 31 2025. Advertising revenue from audio video and sponsored content contributed about 8% while live events made up the remaining 2%. Subscription plans include individual family student and limited options for music and 3 tiers premium standard and standard with ads for video. Users can pay through app stores telecom direct billing debit and credit cards or vouchers. Advertising is sold as display audio video and sponsored playlists and is delivered through the ad supported tier of the Anghami app and the standard with ads tier of OSN+.

The company operates through the following segments.

• Music: The Anghami segment provides music streaming through the Anghami app offering a free ad supported tier and premium subscriptions including individual family student and limited plans. It licenses over 100,000,000 songs from global labels such as Universal Music Group Sony Music and Warner Music Group and regional partners like Rotana and Mazzika. The segment uses artificial intelligence for personalized recommendations creates playlists podcasts and social features and partners with telecom operators for billing and bundling. The company has invested in original content for over 10 years to strengthen its local library.

• Video: The OSN+ segment provides video streaming through the OSN+ app offering 3 subscription tiers premium 4K standard HD and standard with ads. It streams over 10,000 hours of television series and movies including HBO content Arabic and Turkish originals and live TV channels. The segment does not have a permanent free tier but occasionally offers short trial periods. Revenue comes from subscription fees and from advertising shown on the standard with ads tier.

Anghami Inc. holds a leading position as the 1st music streaming platform in the Middle East and North Africa region. It competes with global services such as Spotify Apple Music YouTube Music and Amazon Music as well as regional players. Its competitive advantages include a deep library of localized Arabic content strong relationships with major record labels and an extensive network of telecom partnerships that facilitate billing and subscriber acquisition. The company leverages artificial intelligence and machine learning to deliver personalized recommendations and to improve user engagement across both music and video platforms.

Anghami Inc. serves individual consumers across its MENA operating area who access music and video content for personal entertainment. It also serves advertisers from sectors such as telecommunications gaming and fast moving consumer goods who purchase audio video and sponsored placements. Additionally the company works with telecom operators as distribution partners and with artists and content creators who use the platform to reach fans and monetize their work.