Kuwait - Sharikat Mubasher: OSN+, the leading video streaming platform for premium content, successfully completed the acquisition of a 55.45% stake in Anghami, the renowned music and entertainment streaming platform, a recent statement revealed.
This acquisition will bring about $100 million in revenue at closing, in addition to more than 120 million registered users and around 2.5 million paid subscribers.
With a premium and exclusive library of 18,000 hours of video content, OSN+ will benefit from Anghami’s strong tech stack, providing a streaming experience enhanced with hyper-personalization products that will be unveiled soon.
In November 2023, OSN+ and Anghami announced their merger into one entity in a deal worth $50 million.
Elie Habib, Co-founder and CTO of Anghami, will head the combined entity as incoming Anghami CEO, while Joe Kawkabani will remain as OSN Group CEO.
