Anghami, the leading music and entertainment streaming platform in the Middle East and North Africa, has acquired the live events and concerts company Spotlight Events, it was announced June 30.
Under the deal, Spotlight Events – which is based in the MENA region – will become Anghami’s live events and concerts arm, effectively expanding Anghami’s reach in the music and entertainment ecosystem. According to a press release, Anghami’s technology “will bridge the gap between the offline and online worlds” by offering access to exclusive concerts through live video streaming as well as creating immersive experiences in virtual and augmented reality.
The partnership is also being billed as a way for Anghami to foster opportunities between artists and brands by providing music fans with exclusive access to private concerts, VIP lounges, meet and greets, and backstage access, in addition to both offline and livestreamed events.
“Our vision is to expand from music streaming to a fully integrated entertainment platform that meets our goal of building our own unique category that no other provider can compete with,” said Anghami co-founder and CEO Eddy Maroun in a statement.
Maroun continued, “Spotlight and Anghami Lab are among a number of initiatives we plan to develop as new business extensions to accelerate our growth and improve our margins while widening the gap with our competitors.” He added that Spotlight Events founder and CEO Maher Khawkhaji “has built a great business on solid economics and has proven that live concerts and events are a scalable and profitable business.”
In his statement on the deal, Khawkhaji said, “Our offline expertise, complemented by Anghami’s reach, data and technical capabilities, is the perfect recipe for success.”
Forthcoming Spotlight events include Beat the Heat, a seven-concert festival in Dubai that was organized with the city’s Department of Tourism and Commerce Marketing; a concert by Arab star Wael Kfoury in Paris; and six yet-to-be-announced Abu Dhabi concerts in 2022. Spotlight will also execute all of Anghami’s events, including the forthcoming concert Amr Diab Live.
Anghami’s Spotlight acquisition comes on the heels of the company’s IPO on the Nasdaq exchange in February, making it the first Arab tech company to list on the U.S. stock market.