OSN+ to merge with Anghami to become joint video and music streaming service in MENA

MENA’s TV streaming operator OSN+ is to merge with local music and entertainment streaming service Anghami to create a combined video and music streaming offering in the Middle East and North Africa region.

Elie Habib and Joe Kawkabani (Source: OSN Group)

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 houses a catalogue of over 100 million songs, featuring music from Universal Music Group, Sony Music Entertainment, Warner Music Group and the Merlin Network.

While OSN operates across 22 countries in the MENA region, delivering content across its multiple networks OSN+, OSNtv, and b2b offerings in each market. OSN+ has over 18,000 hours of video content and exclusive partnerships with premium international studios such as HBO, NBC Universal, Paramount, and leading Arabic and Turkish studios.

The move will see the new entertainment hub rival streaming giants Netflix and Spotify in the MENA market, bringing together over 120 million registered users, over 2.5 million subscribers and more than $100 million revenue at closing.

The platform will leverage Anghami’s tech stack and music catalogue coupled with OSN+’s library of premium video content, with AI-driven hyper personalisation that will priorities recommendations based on user preference.

The OSN Group will invest in Anghami at a valuation of $3.65 per share, 3.9x the stock’s average price for the past month. The transaction is expected to close in the first quarter of 2024.

When the merge is completed OSN Group will own a majority stake in Anghami and will continue to run its linear TV business OSNtv, with Joe Kawkabani as Group CEO.

Commenting on the merge, Habib 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. It’s a chance to deepen our connection with our users and to create something they will truly love.”

Kawkabani added: “This is a major milestone in OSN’s journey as we continue to scale up our streaming business. 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.”