Download PDF

1. Company Snapshot

1.a. Company Description

Anghami Inc.operates a digital music entertainment technology platform in the Middle East and North Africa.It offers a music application and platform that provides Arabic and international music to stream and download.


The company was founded in 2012 and is based in Abu Dhabi, the United Arab Emirates.

Show Full description

1.b. Last Insights on ANGH

Anghami Inc.'s recent performance has been negatively impacted by intense competition in the MENA region's digital entertainment space. Despite securing a significant $55 million investment from OSN Group, the company's ability to convert this funding into tangible growth remains uncertain. Anghami's reliance on premium audio and video content may be threatened by emerging competitors, potentially eroding its market share. Furthermore, the convertible note program's terms may lead to dilution of existing shareholders' interests.

1.c. Company Highlights

2. Transcript Summary

Unfortunately this company is not part of our coverage yet. But as part of your subscription plan you can request it by clicking just below and we'll process.

Request Coverage

3. NewsRoom

Card image cap

Anghami Announces 1-for-10 Reverse Stock Split

Jul -29

Source: prnewswire.com

Card image cap

Anghami Secures Significant Investment from OSN Group

Dec -16

Source: prnewswire.com

Card image cap

Anghami Delivers Strong Growth Across Video and Music Service in 2024 with 28% growth in streaming engagement

Nov -14

Source: prnewswire.com

Card image cap

OSN+ partners with castLabs to enhance content protection with cutting-edge multi-DRM technology, DRMtoday

Sep -10

Source: prnewswire.com

Card image cap

Anghami Reports 18.3% Subscriber Growth and Strategic Milestones Following OSN+ Transaction

Sep -04

Source: prnewswire.com

Card image cap

Anghami Files 2023 Annual Report and Announces 2024 Q1 Results, Highlighting 18% Growth in Subscribers and Significant Margin Improvement

May -02

Source: businesswire.com

Card image cap

Anghami and OSN+ Successfully Complete Milestone Transaction, Creating an Entertainment Powerhouse

Apr -02

Source: prnewswire.com

Card image cap

Anghami and Rotana Renew Partnership and Expand Scope of Collaborations

Mar -12

Source: businesswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (11.86%)

6. Segments

Subscription

Expected Growth: 11.53%

Anghami Inc.'s 11.53% subscription growth is driven by increasing demand for music streaming services in the MENA region, strategic partnerships with telecom operators, and a user-friendly interface. Additionally, the company's focus on Arabic content and localized playlists resonates with the regional audience, contributing to the growth.

Advertisement

Expected Growth: 14.07%

Anghami Inc.'s 14.07% growth is driven by increasing demand for music streaming services in the MENA region, strategic partnerships with telecom operators, and a growing user base. Additionally, the company's focus on Arabic content, user-friendly interface, and competitive pricing strategy have contributed to its rapid expansion.

Live Events

Expected Growth: 9.9%

Anghami's Live Events segment growth of 9.9% is driven by increasing demand for experiential entertainment, strategic partnerships with event organizers, and expansion into new markets. Additionally, the company's strong brand recognition, user engagement, and data analytics capabilities enable targeted marketing and optimized event experiences, further fueling growth.

7. Detailed Products

Music Streaming

Anghami's music streaming service allows users to access a vast library of Arabic and international songs, playlists, and podcasts.

Live Radio

Anghami's live radio service allows users to tune into live radio stations broadcasting from the Middle East and North Africa.

Playlists

Anghami's playlists feature allows users to discover and listen to curated playlists created by Anghami's music experts.

Artist Pages

Anghami's artist pages feature allows users to access a dedicated page for their favorite artists, including their discography, biography, and upcoming events.

Lyrics

Anghami's lyrics feature allows users to access the lyrics of their favorite songs.

Downloadable Content

Anghami's downloadable content feature allows users to download songs, playlists, and podcasts for offline listening.

8. Anghami Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Anghami's music streaming service has some substitutes, such as YouTube Music, Apple Music, and Spotify, but its strong brand presence and user base in the Middle East and North Africa region reduce the threat of substitutes.

Bargaining Power Of Customers

Anghami's customers have limited bargaining power due to the company's dominant market position and lack of alternative music streaming services in the region.

Bargaining Power Of Suppliers

Anghami's suppliers, such as music labels and artists, have some bargaining power due to the company's dependence on their content, but the company's strong relationships with suppliers mitigate this threat.

Threat Of New Entrants

The threat of new entrants is high due to the relatively low barriers to entry in the music streaming market, and the potential for new competitors to enter the market and disrupt Anghami's position.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of established competitors such as Apple Music and Spotify, and the need for Anghami to continuously innovate and improve its service to maintain its market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight -1.34%
Debt Cost 11.74%
Equity Weight 101.34%
Equity Cost 11.74%
WACC 11.74%
Leverage -1.32%

11. Quality Control: Anghami Inc. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Borussia Dortmund

A-Score: 5.3/10

Value: 7.0

Growth: 6.6

Quality: 5.6

Yield: 1.2

Momentum: 5.0

Volatility: 6.7

1-Year Total Return ->

View Full Report
Stock-Card
Cyfrowy Polsat

A-Score: 5.3/10

Value: 8.4

Growth: 4.9

Quality: 3.4

Yield: 2.5

Momentum: 7.5

Volatility: 5.3

1-Year Total Return ->

View Full Report
Stock-Card
Prisa

A-Score: 4.4/10

Value: 8.9

Growth: 3.0

Quality: 4.3

Yield: 0.0

Momentum: 6.0

Volatility: 4.3

1-Year Total Return ->

View Full Report
Stock-Card
Gaumont

A-Score: 3.3/10

Value: 7.2

Growth: 1.8

Quality: 3.5

Yield: 0.0

Momentum: 1.5

Volatility: 6.0

1-Year Total Return ->

View Full Report
Stock-Card
Time Out

A-Score: 3.3/10

Value: 7.9

Growth: 6.3

Quality: 1.6

Yield: 0.0

Momentum: 0.0

Volatility: 4.0

1-Year Total Return ->

View Full Report
Stock-Card
Anghami

A-Score: 2.7/10

Value: 10.0

Growth: 2.8

Quality: 3.6

Yield: 0.0

Momentum: 0.0

Volatility: 0.0

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

2.98$

Current Price

2.98$

Potential

-0.00%

Expected Cash-Flows