In a move that reshapes the streaming landscape in the Middle East, OSN+, a leading platform for premium video content, and Anghami, a pioneer in music and entertainment regional streaming, have officially completed their landmark transaction and joined forces. This announcement comes after securing all necessary regulatory approvals.
OSN Group’s acquisition of a 55.45% stake in Anghami, at a valuation of $3.69 per share, signifies a major investment in this transformative partnership. The newly formed entity emerges as a formidable player in the region, boasting a staggering 120 million registered users, approximately 2.5 million paid subscribers, and close to $100 million in revenue at closing.
This isn’t just about impressive numbers. The heart of this collaboration is the fusion of OSN+’s vast library of 18,000 hours of premium video content with Anghami’s massive catalog of over 100 million songs and podcasts. Beyond this extensive collection, the combined company will leverage Anghami’s powerful technology stack for an unparalleled user experience. Expect AI-driven hyper-personalization and the announcement of cutting-edge new products in the near future.
At the helm of this newly formed entity will be Elie Habib, Anghami Co-founder and CTO, taking the reins as Anghami’s incoming CEO. OSN Group CEO Joe Kawkabani will continue in his role, ensuring expertise and guidance from both sides of this exciting merger.
