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Arabic music streaming portal Anghami, which is listed on the Nasdaq New York, is buying concert and event management company Spotlight Events. Anghami will make Spotlight its live events and concerts division to expand its base in the "music and entertainment ecosystem".
Traditional and virtual concerts will be available either by ticket or brand sponsorship. In addition, music fans will have exclusive access to private concerts, VIP venues, meet-and-greets and backstage access, in addition to attending concerts offline or streaming through their devices.
“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 Eddy Maroun, co-founder and CEO of Anghami. “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.”
Spotlight Events recently confirmed upcoming events planned in Dubai, Abu Dhabi, Paris, Cairo and Riyadh, including 'Beat the Heat', a 7-concert festival organised in collaboration with the Dubai Department of Tourism and Commercial Marketing. Six concerts are planned in Abu Dhabi later in the year.
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