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v3.24.4

Segment Information (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Segment Information [Abstract] |
Schedule of Key Financial Performance Measures of the Segments | Key financial performance measures of the segments including revenue, cost of revenue, and gross profit are as follows:
|  | For the six-month period ended June 30 |
|  | (Unaudited) |  |  | (Unaudited) |
|  | 2024 |  |  | 2023 |
|  | USD |  |  | USD |
Revenue from subscription segment |  |  |  |  |  |
Revenue |  |  | 23,983,378 |  |  |  | 11,396,668 |
Cost of revenue |  |  | (33,935,805 | ) |  |  | (11,511,698 | )
Gross loss |  |  | (9,952,427 | ) |  |  | (115,030 | )
Revenue from advertisement segment |  |  |  |  |  |  |  |
Revenue |  |  | 4,455,020 |  |  |  | 5,266,208 |
Cost of revenue |  |  | (2,918,095 | ) |  |  | (2,058,000 | )
Gross profit |  |  | 1,536,925 |  |  |  | 3,208,208 |
Revenue from live events segment |  |  |  |  |  |  |  |
Revenue |  |  | 1,358,884 |  |  |  | 2,240,835 |
Cost of revenue |  |  | (1,438,349 | ) |  |  | (2,046,802 | )
Gross (loss)/ profit |  |  | (79,465 | ) |  |  | 194,033 |
Consolidated |  |  |  |  |  |  |  |
Revenue |  |  | 29,797,282 |  |  |  | 18,903,711 |
Cost of revenue |  |  | (38,292,249 | ) |  |  | (15,616,500 | )
Gross (loss)/ profit |  |  | (8,494,967 | ) |  |  | 3,287,211 |
Schedule of Reportable Segment Gross Profit to the Group’s Loss Before Tax | Selling and marketing, operating expenses, finance income, and finance costs are not allocated to individual segments as these are managed on an overall group basis. The reconciliation between reportable segment gross profit to the Group’s loss before tax is as follows:
|  | For the six-month period ended June 30 |
|  | (Unaudited) |  |  | (Unaudited) |
|  | 2024 |  |  | 2023 |
|  | USD |  |  | USD |
Segment gross (loss)/profit |  |  | (8,494,967 | ) |  |  | 3,287,211 |
Selling and marketing expenses |  |  | (9,075,071 | ) |  |  | (4,637,110 | )
General and administrative expenses |  |  | (8,819,171 | ) |  |  | (9,211,224 | )
Consultancy and professional fees |  |  | (764,342 | ) |  |  | (738,882 | )
Government grants |  |  | 871,385 |  |  |  | 1,431,490 |
Finance costs |  |  | (66,111 | ) |  |  | (84,042 | )
Finance income |  |  | 188,881 |  |  |  | 5,234 |
Other income |  |  | 47,173 |  |  |  | 840,100 |
Impairment of goodwill |  |  | (350,000 | ) |  |  | - |
Share of loss of a joint venture |  |  | (362,978 | ) |  |  | (126,844 | )
Fair value change of warrant liabilities |  |  | 221,413 |  |  |  | (208,383 | )
Foreign exchange loss, net |  |  | (599,773 | ) |  |  | (2,409,540 | )
Loss before tax |  |  | (27,203,561 | ) |  |  | (11,851,990 | )
Schedule of Revenue by Market | Revenue by market
|  | For the six-month period ended June 30 |
|  | (Unaudited) |  |  | (Unaudited) |
|  | 2024 |  |  | 2023 |
|  | USD |  |  | USD |
KSA |  |  | 8,666,652 |  |  |  | 2,930,379 |
UAE |  |  | 5,679,127 |  |  |  | 4,286,444 |
Egypt |  |  | 5,089,050 |  |  |  | 6,976,960 |
Kuwait |  |  | 3,079,107 |  |  |  | 250,041 |
Qatar |  |  | 1,679,568 |  |  |  | 141,878 |
Lebanon |  |  | 1,404,887 |  |  |  | 1,588,373 |
Jordan |  |  | 559,921 |  |  |  | 551,497 |
Morocco |  |  | 352,928 |  |  |  | 537,996 |
Others* |  |  | 3,286,042 |  |  |  | 1,640,143 |
|  |  | 29,797,282 |  |  |  | 18,903,711 |
* | There is no individual geographical market other than those disclosed above which would constitute more than 5% of the total revenue.

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