OSN+, Anghami create MENA streamer
Middle East and North Africa (MENA) streamers OSN+ and Anghami are to merge to create an entertainment platform with over 120 million registered users and more than 2.5 million subscribers.
The deal will see OSN Group make a cash investment of up to US$50m in Anghami in return for a majority stake in the company, which streams Arabic and international music and podcasts.
Launched in 2012, Anghami claims to have the largest catalogue of music in MENA, comprising more than 100 million songs and licensed content from leading Arabic labels, independent artists and global distributors.
OSN+, meanwhile, has over 18,000 hours of video content and exclusive partnership with premium international studios such as HBO, NBC Universal, Paramount, and leading Arabic and Turkish studios.
The combination of the two local home-grown brands will offer consumers the best and latest in premium movies, TV shows, music, podcasts, according to the two companies.
The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions and regulatory approvals.
In addition to its stake in Anghami, OSN will continue to run its linear TV business, OSNtv, with Joe Kawkabani as group CEO.
Elie Habib, co-founder of Anghami, is set to be the CEO of the combined OSN+ and Anghami business and said: “Joining forces with OSN+ is a leap in Anghami’s journey to reinvent entertainment in the Arab world. We’re bringing together technology, music and video to build a comprehensive media ecosystem.”