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SRMG Ventures announces strategic investment in Anghami

SRMG Ventures’ investment in Anghami reflects its unique and leading position in the promising music and audio segment of the media industry. (Supplied)
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Updated 21 August 2023
Arab News
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SRMG Ventures announces strategic investment in Anghami

  • Venture capital arm of SRMG makes its third investment with a $5 million investment in Anghami
  • Anghami will leverage SRMG’s media network to accelerate growth, expand the legal consumption of music and audio content in the MENA region
Updated 21 August 2023
Arab News

LONDON: SRMG Ventures, the venture capital arm of SRMG, has today announced a $5 million investment in Anghami, the leading music and entertainment streaming platform in the MENA region. An investment by the MENA region’s largest integrated media group in Anghami, marks a significant development in the region’s rising music and audio industry. SRMG Ventures will bolster Anghami's growth trajectory through its extensive media reach, content library, and portfolio of leading assets in audio/podcasts and enable it to capture a larger share in the fast-growing sector that is forecasted to reach $700mm in 2026.  

Anghami has established itself as the region’s leading music and entertainment streaming platform. With 120 million registered users (a significant increase from 75 million users in 2021), a substantial subscriber base and a catalogue comprising of more than 100 million songs, Anghami is the go-to platform for Arabic and International music, podcasts and entertainment.   

Since launching in 2012, Anghami has broadened its portfolio beyond music streaming. It now provides in-house productions, branded music and video content, concerts and live events, a record label for Arab artists, podcasts, a music lounge with live entertainment, exclusive and original Arabic content, along with its renowned music streaming service. 

SRMG Ventures’ investment in Anghami reflects its unique and leading position in the promising music and audio segment of the media industry. The MENA music and audio industry is forecasted to grow at a CAGR of 11 percent, outpacing the global market. This rapid growth, further highlighted by the rising prominence of Arab stars and local talent, coupled with the strategic presence of international labels including Warner, Universal, and Sony, is cementing MENA's position as a pivotal player in the global music landscape.  

Anghami’s breadth of data and its leading distribution capabilities present compelling collaboration opportunities with SRMG. Billboard Arabia, the latest addition to SRMG’s media portfolio, will introduce several charts using data from the leading digital streaming platforms – including Anghami – to highlight the artists and songs driving the global and regional music industry. In addition, Thmanyah, Independent Arabia, and Hia, all notable audio content creator outlets under SRMG, are already present within the Anghami platform, setting the stage for continued collaboration between SRMG and Anghami. 

Jomana R. Al-Rashid, CEO of SRMG, said: “Audio consumption is growing fast in the MENA region. In 2022 alone, the market size for audio increased by 35 percent. This demand coupled with the commercial opportunity it presents makes digital audio and media one of the investment priorities for SRMG Ventures. These opportunities are also demonstrative of our strategy and commitment to support and develop the media ecosystem, act as a catalyst for further growth and enhancement of SRMG’s offerings and services. Today, Anghami has been able to secure one of the largest user bases in audio streaming in the region, and has developed an impressive platform with extensive technological capabilities – a testament to the leadership of founders Elie Habib and Eddy Maroun. We’re looking forward to working closely with the Anghami team to realize our shared vision of elevating the region’s media and entertainment industry.” 

Eddy Maroun, Co-founder & CEO of Anghami, said: “This investment from SRMG Ventures marks a significant milestone for Anghami. We have continually evolved to meet our audience’s changing demands and support the region’s rising entertainment and music industry. Working together with SRMG, a leader and innovator in regional media, Anghami will be able to unlock further opportunities to champion the music ecosystem. This partnership will propel regional artists to greater heights, expand their global reach, and create new touchpoints for our users and artists alike.” 

SRMG Ventures’ investment in Anghami aligns with the Group’s strategy to invest in businesses and areas of commercial growth, focusing on media creators, immersive and interactive entertainment, and digital media platforms and enablers that are at the forefront of technological and creative innovation. SRMG Ventures inaugural investments included Telfaz11, a Saudi based creative media studio, and Vuz, a leading VR-enabled social media application. As part of the investment agreement, SRMG will be invited to join Anghami's board of directors and will have the opportunity to increase its investment in Anghami in the future. 

Topics: SRMG Ventures Anghami

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Sky News Arabia opens new headquarters, announces fresh programming

Updated 23 January 2025
Arab News
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Sky News Arabia opens new headquarters, announces fresh programming

Updated 23 January 2025
Arab News

DUBAI: Sky News Arabia, part of media group IMI, has opened its new headquarters in the same building as the IMI HQ on Yas Island, Abu Dhabi.

The new HQ features advanced broadcasting studios fitted with the latest AI technologies, the company said.

Sky News Arabia has also launched a new programming grid covering politics, lifestyle, sports, business and entertainment.

The announcements come 12 years after the channel’s launch.

They mark a new chapter that “embodies our forward-thinking strategy to anticipate and exceed audience expectations by embracing cutting-edge technologies and delivering diverse, engaging programming that transcends borders, setting new benchmarks for excellence,” said Rani Raad, CEO of IMI and president and operating partner of Redbird IMI.

The company has been working over the past year to elevate “the way each of the media companies within our network engage with audiences, to ensure we continue to deliver content that truly resonates,” he added.

The new programming will include shows such as “Studio One” hosted by Fadila Souissi, which will highlight political and societal issues, and the “Emad Eldin Adib” show, which will focus on politics in the Arab world.

Sky News Arabia is also expanding its lineup of non-political shows. The “Al Sabah Show” will return, featuring segments on health, fashion, law, and celebrities. It will be hosted by Maha Abdullah, Ahmed Qassem, Hani Ziadeh, Christine Dagher and Lubna Mansour.

The show will extend to digital channels and social media platforms through 12 specifically tailored mini-segments.

“In an era of rapid change and information overload, we are committed to empowering our audience with the tools to navigate and discern credible news,” said Nadim Koteich, general manager of Sky News Arabia.

He added: “By providing transparent, engaging and diverse content across politics, economics, lifestyle and technology, we ensure that Sky News Arabia remains a credible source of information that meets the dynamic needs of our viewers.”

Topics: Sky News Sky News Arabia

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Benefits of AI economy must be equitably distributed, says UN tech envoy in Davos

Updated 23 January 2025
Dalal Awienat
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Benefits of AI economy must be equitably distributed, says UN tech envoy in Davos

  • Amandeep Singh Gill seeks ‘global’ efforts to tackle digital divide
  • ‘We need to have a more collaborative and respectful approach’
Updated 23 January 2025
Dalal Awienat

DAVOS:The power of artificial intelligence and quantum computing must be harnessed to benefit nations across the world, not only developed economies, said Amandeep Singh Gill, the UN’s envoy on technology, on Thursday.

Speaking during a panel titled “From High-Performance Computing to High- Performance Problem Solving,” Gill said that countries in Africa, for example, hold less than 0.5 percent of graphic processing units worldwide.

Also participating in the discussion were Georges-Olivier Reymond, co-founder and CEO of PASQAL; Ana Paula Assis, senior vice president and chair IBM EMEA and Growth Markets; and Paul Alivisatos, president of the University of Chicago.

“My challenge is to convince policymakers who have limited resources to invest in the digital divide, data and AI and quantum development as well,” explained the envoy.

“There is a backlash against the neo-colonial situation, where the tech is developed in just a few geographies, and the rest of the world is takers of this tech. You can call it the sovereignty backlash … we need to have a more collaborative and respectful approach,” he added.

When asked by panel moderator Azeem Azhar, CEO of Exponential View, about the risk of uncertainty in the field of quantum computing, Gill said he sees an opportunity more than a risk.

“We are at an early stage in terms of the science and technology of developing things so different technologies might be used. A degree of uncertainty and diversity is important,” he added.

But the envoy emphasized the need to have a unified global force that would ensure everyone can participate in this area of technology.

“When we look at the global majority, not everyone will be able to use quantum computing, the cryptographic effort has to be global, it can’t be isolated,” he said.

Gill said the world is shifting toward quantum infrastructure in order to reduce energy consumption. According to the envoy, today’s AI systems consume a great deal of energy.

The UN deemed 2025 as the “International Year of Quantum Science and Technology.” This initiative aims to celebrate quantum mechanics and educate people on its impacts on technology, culture, and understanding of the world.

Topics: WEF 2025

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Al Jazeera says the Palestinian Authority arrested one of its reporters

Updated 23 January 2025
AP
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Al Jazeera says the Palestinian Authority arrested one of its reporters

  • The Qatar-based news network reported that its reporter Mohammed Al-Atrash was arrested from his home
Updated 23 January 2025
AP

The Al Jazeera news network says the Palestinian Authority arrested one of its reporters after preventing him from covering an Israeli operation in the occupied West Bank.
The Qatar-based news network reported Thursday that its reporter, Mohammed Al-Atrash, was arrested from his home.
It said Palestinian security forces had earlier prevented him from reporting on a large Israeli military operation in Jenin, an epicenter of Israeli-Palestinian violence in recent years. The Palestinian Authority launched its own crackdown on militants in the city late last year.
There was no immediate comment from the Palestinian Authority.
Both Israel and the Western-backed Palestinian Authority banned Al Jazeera last year. Israel accuses it of being a mouthpiece of Hamas over its coverage of the war in the Gaza Strip and says some of its reporters are also militants.
The pan-Arab broadcaster has rejected the allegations and accused both Israel and the Palestinian Authority of trying to silence critical coverage.
The internationally recognized Palestinian Authority administers parts of the Israeli-occupied West Bank and cooperates with Israel on security matters. It is unpopular among Palestinians, with critics portraying it as a corrupt and authoritarian ally of Israel.

Topics: War on Gaza Palestine West Bank Al Jazeera

South Sudan orders temporary ban on social media over violence in neighboring Sudan

Updated 23 January 2025
AP
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South Sudan orders temporary ban on social media over violence in neighboring Sudan

  • Many South Sudanese have been angered by footage from Sudan that purports to show killings by militia groups of South Sudanese in Gezira state
Updated 23 January 2025
AP

JUBA, South Sudan: South Sudanese authorities on Wednesday ordered telecoms to block access to social media for at least 30 days, citing concerns over the dissemination of graphic content relating to the ongoing violence against South Sudanese in neighboring Sudan.
The temporary ban, which could be extended to up to 90 days, will come into force at midnight Thursday, according to a directive from the National Communication Authority, NCA, to telecom companies stressing that the measure was necessary to protect the public.
“This directive may be lifted as soon as the situation is contained,” the NCA said. “The contents depicted violate our local laws and pose a significant threat to public safety and mental health.”
Many South Sudanese have been angered by footage from Sudan that purports to show killings by militia groups of South Sudanese in Gezira state. South Sudanese authorities imposed a dusk-to-dawn curfew on Jan. 17 after a night of retaliatory violence during which shops owned by Sudanese traders were looted.
Moussa Faki Mahamat, chairperson of the African Union Commission, condemned “the brutal killings of South Sudanese nationals” in Sudan and urged restraint.
Civil war in Sudan has created a widening famine and the world’s largest displacement crisis. Fighting between forces loyal to rival military leaders exploded in the capital, Khartoum, in April 2023 and has since spread to other areas.
The conflict has been marked by atrocities, including ethnically motivated killing and rape, according to the UN and rights groups.
 

Topics: Sudan Unrest

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‘Controlling technology does not bridge the divide,’ says e& chief at WEF

Updated 23 January 2025
Arab News
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‘Controlling technology does not bridge the divide,’ says e& chief at WEF

  • Hatem Dowidar said that while poorer nations may lack the expertise and resources to build AI infrastructure, governance and data sovereignty could unlock opportunities for decentralizing such technologies
  • Brad Smith pointed to Microsoft’s $1 billion investment, in partnership with Abu Dhabi-based AI firm G42, in establishing a data center in Kenya as an indication of decentralization efforts
Updated 23 January 2025
Arab News

LONDON: Controlling key technologies such as artificial intelligence does little to bridge the divide between richer and poorer nations, hindering the potential to benefit all, according to Hatem Dowidar, group chief executive officer of e&.

Speaking at the World Economic Forum, Dowidar highlighted the need for a shift in mindset among regulators to “close the divide rather than widen it.”

He said that the challenge lay less in countries lacking the expertise or resources to build AI infrastructure and more in governance and data sovereignty issues, which often required external handling.

“We do have a couple of cases now where agreements have been done that allow for data to be handled securely,” he said. “In other markets, there are a few lighthouse cases that allows this to happen, and actually some of the hyperscalers — Microsoft and AWS — are working on creating these ring-fenced sovereign clouds that can serve countries from another country while really preserving that integrity and sovereignty.”

Dowidar explained that while many countries lacked access to AI know-how and connectivity, the energy-intensive process of training AI models presented perhaps a more significant barrier.

“So there is a possibility where you can have these central areas, where we can serve the countries that don’t have the massive energy needed to teach the models, but then we need to relax the AI data sovereignty issues,” he said.

Participating in the panel, “AI: Lifting All Boats,” Brad Smith, vice-chair and president of Microsoft, discussed his company’s push toward a decentralized approach to AI development. He pointed to Microsoft’s $1 billion investment, in partnership with Abu Dhabi-based AI firm G42, to establish a data center in Kenya as an example of such efforts.

“It is hard to spend a billion dollars to support 50 million people in Kenya alone, but we’re doing it,” he said. “But the real question is, can we grow that and can we reach Rwanda? We can, but only under one circumstance that you get Rwanda, Tanzania and Uganda and Kenya and Ethiopia, that you get the East African Community to decide together that they will all use that data center.”

He called this type of development “a data zone, just like we have free trade zones that will get us halfway there.”

However, Smith emphasized that the private sector alone could not shoulder the burden of such investments. Local governments and international institutions were essential to “kickstart the demand” if regions such as East Africa were to bridge the divide and compete on the global stage.

The panelists also criticized the US for its protectionist approach, particularly the imposition of export controls on competitive nations such as China.

While acknowledging that American technology currently held a significant edge, they argued that these restrictive policies were fueling rival nations to “catch up in various ways, partly by driving them to develop more frugal and innovative models.”

Topics: WEF 2025 e& Hatem Dowidar Microsoft Brad Smith

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