OSN+ and Anghami complete merger to form major MENA streamer

MENA-based video content streamer, OSN+, has completed the acquisition of music and entertainment streaming platform, Anghami.

Elie Habib and Joe Kawkabani (Source: OSN Group)

OSN Group has acquired 55.45% in Anghami, giving it a majority stake at a valuation of $3.69 per share.

The merge will deliver a combined total of over 120 million registered users, 2.5 million paid subscribers nearly $100 million in revenue, according to the company.

The move will see the newly combined streamer rival streaming giants Netflix and Spotify across the MENA region, bringing together over 120 million registered users, over 2.5 million subscribers and more than $100 million revenue at closing

The merger will consist of OSN+’s library of 18,000 hours of video content and Anghami’s catalogue of more than 100 million songs and podcasts.

The streamer said the new platform will also leverage Anghami’s tech stack, including AI-driven hyper-personalisation.

Anghami launched in 2012 becoming the first music-streaming platform in MENA to digitise the region’s music and has since established over 40 telco partnerships. It features music from Universal Music Group, Sony Music Entertainment, Warner Music Group and the Merlin Network.

Whilst OSN operates across 22 countries in the MENA region, delivering content across its multiple networks OSN+, linear TV service OSNtv, and b2b offerings in each market. OSN+ also houses content from its exclusive partnerships with global studios such as HBO, NBC Universal, Paramount, as well as leading Arabic and Turkish studios.

Elie Habib, Anghami co-founder and CTO, will lead the combined entity as Anghami CEO, while Joe Kawkabani will remain as OSN Group CEO.