Leading music and entertainment streaming platform Anghami, which recently became the first Arab tech company to list on Nasdaq, has acquired events and concert company Spotlight Events. Through the collaboration, Spotlight Events became Anghami’s arm for live events and concerts, including offline activities and activations to further expand the platform’s footprint in the music and entertainment ecosystem.
“Our vision is to expand from music streaming to a fully integrated entertainment platform that meets our goal of building our unique category that no other provider can compete with. 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,” said Eddy Maroun, Co-founder and CEO of Anghami.
While Spotlight Events will provide a stage for artists to perform and reach their audiences offline, Anghami’s technology will bridge the gap between the offline and online worlds. It will give access to exclusive concerts through its live video streaming capabilities and create immersive experiences through AR and VR.
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“Our offline expertise, complemented by Anghami’s reach, data, and technical capabilities, is the perfect recipe for success. We look forward to being part of this dynamic team and unleashing the incredible potential to bring the best to music fans, artists, and brands and take entertainment to the next level,” said Maher Khawkhaji, Founder and CEO of Spotlight.
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