New MIDiA Research Report Illustrates MENA’s Music Market Opportunity
26 Julio 2021 - 8:00AM
Ahead of its historic listing on NASDAQ New York via proposed
merger with Vistas Media Acquisition Company, a special purpose
acquisition company (NASDAQ:VMAC), Anghami, the Middle East and
North Africa’s largest music platform, announced today that it has
sponsored MIDiA Research’s new report, Local Sounds, Global
Cultures MENA Music Market Opportunity.
MIDiA Research is a go-to source of market
research, working with corporate sponsors to publish independent
analysis of addressable markets and their dynamics. The report,
authored by Srishti Das and Kriss Thakrar, highlights key trends in
the music streaming market in the MENA region, including:
- With global music subscribers set
to exceed half a billion by end 2021 and nearing saturation in
developed markets, the industry focus has shifted to the next
billion users. Emerging markets are acquiring unprecedented
importance, representing the most likely source of strong streaming
growth just when the newly-listed record labels need a growth
narrative for investors.
- Between 2017 and 2020, the U.S. and
Europe reduced their share of global streaming revenues from 76% to
73% as other regions outgrew them.
- This shift will continue to
accelerate. MENA, Asia Pacific, Latin America and Rest of World
will account for 73% of global subscriber growth between 2020 and
2028, growing subscriber share from 46% to 59% over the same
period.
- In emerging markets, local players
are in a better position to associate themselves with local
independent music, being better positioned to take the lead when it
comes to local repertoire.
- Local streaming services will have
a better understanding of local habits and values, allowing them to
cater to diverse populations within one market. Through pricing and
product, local services are catering to very local behaviors. This
gives them a differentiated dynamic that is hard for global players
to compete with, unless they commit to large local music teams on
the ground.
- Local players find themselves in a
position where they can dilute the homogeneity of the global
streaming services through focus on local cultural diversity and
local talent. They will all continue to grow at different rates and
continue to provide new culture, content and opportunities to the
global music market. More streaming success stories are to come
from the emerging markets.
For further information, or to download a free
version of the report, please click here or visit
https://midiaresearch.com/.
Anghami recently announced it expects to become
a publicly traded company via a merger with Vistas Media
Acquisition Company Inc. (NASDAQ: VMAC), a special purpose
acquisition company. For more information about the transaction,
please visit https://vmac.media/.
About Anghami Anghami is the
leading digital music entertainment technology platform in the
Middle East and North Africa, with the largest catalog comprising
of more than 57 million songs available for more than 70 million
users. When it launched in 2012, Anghami was the first
music-streaming platform in MENA. In digitizing the region’s music,
it has become the best-known and best-loved brand in music
streaming in MENA. Today, Anghami features licensed content from
leading Arabic labels, independent artists and distributors.
Anghami also features music from the major International labels
such as Universal, Sony, Warner and is continuously licensing new
content. Headquartered in Abu Dhabi, it has offices in Beirut,
Dubai, Cairo and Riyadh and operates in 16 countries across MENA.
It is the only service available in English, Arabic and French, and
remains close to its customer base, not only thanks to its
pan-regional presence but also via the 56 million user data points
it generates every day.
To learn more about Anghami, please visit
www.anghami.com.
About Vistas Media Acquisition Company
Inc.VMAC is a blank check company, also commonly referred
to as a Special Purpose Acquisition Company, or SPAC, formed for
the purpose of effecting a merger, share exchange, asset
acquisition, share purchase, reorganization or similar business
combination with one or more businesses or entities in the Global
Media and Entertainment sector.
To learn more about Vistas Media Acquisition
Company Inc., please visit https://vmac.media.
About MIDiA ResearchMIDiA
Research is a market intelligence and consulting firm with
longstanding expertise in the business of entertainment and digital
media. We are the definitive source for music and content business
analysis, research and data within the global music industry. Our
client base encompasses the major record labels, large independent
labels, music publishers, performing rights organizations (PROs),
leading streaming services, niche streaming services, hardware
companies, the tech majors, distribution companies, artist services
companies, artist management and more. We help businesses formulate
commercially actionable strategy to navigate the evolving digital
landscape, providing unparalleled insights into trends and
innovations shaping the entertainment market and audience
behaviors. Our clients leverage our expertise and insight,
proprietary multi-country consumer data and market forecasts to
help them make smarter decisions faster.
For more details visit our website:
www.midiaresearch.com.
Contacts:
Investors:
VMAC:F. Jacob Cherian, CEO+1
212- 859-3525fjc@vmac.media
ICR:Ashley DeSimone / Brett
Milotte, ICRAshley.desimone@icrinc.com /
Brett.milotte@icrinc.com
U.S. Media:Keil
DeckerKeil.Decker@icrinc.com
Middle East Media:Sunil John /
Sophie McNulty, ASDA’A BCWSunil.john@bcw-global.com /
Sophie.mcnulty@bcw-global.com
Vistas Media Acquisition (NASDAQ:VMAC)
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