OSN merge with Anghami to lead streaming in MENA
TV and Film streaming service OSN+ is merging with music service Anghami to lead the streaming race in the Middle East and North Africa.
Two of the Middle East and North Africa’s (MENA) leading streaming service are coming together. Video streaming service OSN are investing in Anghami and bringing them under their wing.
Music streaming service Anghami has over 100 million songs on their platform. They announced a 21% rise in subscribers in 2022 and a fantastic 35% growth in revenues. Overall they claim to have 120 million registered users.
With OSN+, a Netflix-like platform of film and TV, they hope to dominate the overall streaming scene in MENA. Together they will create a “unique digital streaming experience with AI-driven hyper personalization that prioritizes recommendations based on user preference.”
Anghami co-founder Elie Habib will act as CEO of the merged companies. He writes: “Joining forces, we now reach over 20 million active users, with 2.5 million paying subscribers and $100m in revenue. A major player in Arab media is born.”
For now, both services will remain separately available through individual apps. Habib revealed that they are exploring possible routes to blending the services in the future. OSN’s TV business will remain independently run by CEO Joe Kawkabani.
Kawkabani said: “Combining OSN+ content with Anghami’s technology enables us to deliver the best of entertainment all in one place for our customers, ensuring we are continuously evolving our offering to meet their needs. As two home-grown entities with an unmatched understanding of the local market, we are confident that this new offering will change the face of the regional streaming landscape.”
OSN will invest USD $50 million into Anghami as part of the deal. This will give them a majority stake, according to an investor filing they published on the 21st November.
Anghami is available in the Middle East, North Africa, Europe, and the US. OSN+ streams across 22 countries in the MENA region, including Algeria, Egypt, and the UAE.