OSN, has reached a deal and is set to combine its premium content streaming platform in the region, OSN+, with Anghami Inc., the region’s music and entertainment streaming platform.
The combination of the two local home-grown streaming platforms will offer consumers unprecedented aggregation of the best and latest in premium movies, TV shows, music, podcasts and more.
Backed by an investment of up to US$50 million from OSN in Anghami, the deal will bring together over 120 million registered users, 2.5 million paying subscribers with US$100 million in revenue at closing, transforming Anghami Inc. into one of the region’s largest streaming entities. Anghami boasts a catalogue of over 100 million songs and podcasts, with exclusives from artists such as Amr Diab, while OSN+ has over 18,000 hours of content and exclusive partnership deals with HBO, NBC Universal, Paramount, and leading Arab and Turkish studios.
The company said the new platform will be committed to offering the best and most unique product and content experience in the region. Recognizing the power of both brands, the platform will leverage Anghami’s strong tech stack coupled with OSN+’s library of premium content to deliver an enriched experience with AI-driven hyper personalization that prioritizes recommendation based on user preferences.
Anghami Inc. will continue to be listed on the NASDAQ. Closing of the transaction is subject to obtaining customary regulatory and anti-trust approvals, with the integration expected to be finalized in early 2024 once those are received. OSN will own a majority stake in Anghami Inc. and will continue to run its linear business, OSNtv.