According to a recent statement made by OSN + and Anghami, the two companies will be merging to create the region’s first all-encompassing hub for digital entertainment. Having enjoyed high levels of success in their respective domains over the past few years, the television and music streaming platforms have agreed to ink a deal to combine their catalogs and launch the Middle East’s ultimate destination for all things music, cinema, and television.
Hoping to compete with global giants in the field such as Spotify and Netflix, the yet-to-be-named venture will see OSN+’s parent company, OSN, become majority shareholders of Anghami by injecting $50 million into the Arab World’s first music streaming platform. The deal, which is expected to close before the end of the first quarter of 2024, aims to centralize the companies under one digital roof for a simplified experience for users.
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With an already rich library of over 100 million songs and podcasts, Anghami’s roster will be added to OSN+’s 18,000 (and counting) hours of content and exclusive partnerships with HBO, Paramount, and other regional filming studios. What’s more, the takeover is also expected to bring each platform’s already existing users together, which in numbers, represents over 2.5 million OSN paying subscribers and 120 million Anghami registered subscribers.
“Joining forces with OSN+ is a leap in Anghami’s journey to reinvent entertainment in the Arab World,” Anghami co-founder Elie Habib revealed in a shared statement. “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,” he added.
Echoing on his statement, OSN’s CEO Joe 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.”
With the potential of reshaping the region’s digital landscape, the upcoming partnership might also challenge the current status quo in the arena of entertainment and hopefully bring the Western world’s hegemony over content production and distribution to a more balanced and inclusive stage.
