OSN Group, owner of MENA-focused Netflix rival OSN+, announced a $55 million investment in MENA-focused Spotify rival Anghami.
The two companies merged their operations earlier this year to create what they call a regional “entertainment powerhouse.” The combined platform has 18,000 Hours of premium video content, including HBO content and more 100 million Arabic and international songs and podcasts. OSN pledged to “inject $50 million” into Anghami for a majority stake.
Anghami said in a statement on Monday (December 16) that the new investment will enable the platforms to expand their content libraries, “enhance user experience through cutting-edge technology, and strengthen their presence in the Middle East and North Africa region.”
“It also aims to drive innovations such as artificial intelligence-driven personalization and next-generation streaming technology.”
OSN Group CEO said: “This new round of financing reflects our strong belief in Anghami’s potential to lead the MENA region in digital entertainment” Joe Kaukabani explain. “Together, we will continue to redefine how audiences experience premium content and ensure our platform remains an industry pioneer.”
Anghami reports strong growth in the streaming user base since the merger, 41% From April to October 2024. 18% Season 3 in 2024.
The company also relaunched its OSN+ platform, which it said brings higher engagement, and launched a new 4K Premium plan with Dolby Atmos and Dolby Vision. It also improved its artificial intelligence recommendation engine, which Anghami said “results[ed] Enhance content discoverability.
“This new round of funding reflects our strong belief in Anghami’s potential to lead the MENA region in digital entertainment.”
Joe Kawkabani, OSN Group
“The success of this partnership is a testament to the power of collaboration and innovation,” Eli HabibCEO of Anghami and OSN+.
“With this new investment from OSN Group, we are poised to further enhance the digital entertainment experience for audiences in the MENA region and expand our reach.”
A few months ago, Anghami settled a legal dispute and European Medical Associationhailed as the first copyright management agency to operate in the Gulf countries. It is launched by music publishers in the Middle East and North Africa region Popular Arabic In 2020, in the same year PopArabia and reservoir and serves as sub-publisher for all Reservoir rights in the territory.
talk with MBWPopArabia Founder and CEO Specification (Hussein Yusuf) explained that the Angami agreement is “a big deal” for both ESMAA and the Gulf region.
“We were able to reach this agreement not only on behalf of the PopArabia and Reservoir shows, but also essentially all of the PopArabia sub-publishing shows as well as the rights organizations represented by ESMAA, including prompt,” he said.
“In fact, most independent music [publishing] Community, we want to get this deal done. This is the first time a Gulf entity has been able to manage such transactions, as the scale of global industry flows through local entities.global music business
