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Headline : Anghami’s paid subscribers jumped 18% in Q1 2024, after a 2023 of revenue ‘headwinds’

Read more from the original article on here at www.musicbusinessworldwide.com.







Tags : #anghamis #paid #subscribers #jumped #1825 #q1 #2024 #2023 #revenue #headwinds


No. of Paragraph 28

Middle East and North Africa-focused music streaming service Anghami has reported an 18% YoY increase in paying subscribers in Q1 2024.

Meanwhile, its annual report for 2023 showed a narrowing of its operating loss, despite “headwinds” from the war in Gaza and a devaluation of the Egyptian pound that drove revenues down.

The number of premium subscribers reached 1.87 million as of March 31, the end of Q1, the NASDAQ-listed company said in a statement released on Tuesday (April 30).

Anghami reported an 8% YoY increase in revenue for the quarter, driven primarily by a 27% jump in subscription revenue in the quarter. That helped narrow its operating loss from USD $5.4 million to $2.7 million, “reflecting progress towards profitability.”

Read more from the original article on here at www.musicbusinessworldwide.com.


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