Angami Secures $55 Million Investment from OSN Group Following Merger

OSN Group’s Investment in Anghami

OSN Group, the owner of MENA-focused Netflix competitor OSN+, has announced a new $55 million investment in Anghami, a Spotify competitor centered in the MENA region.

The two companies merged earlier this year, creating what they refer to as a regional “entertainment hub.” Combined, their platforms offer 18,000 hours of premium video content, including HBO offerings, along with more than 100 million Arabic and international songs and podcasts. This partnership comes with OSN’s commitment to “invest up to US$50 million” in Anghami for a majority stake.

Plans for Expansion and Innovation

The new investment will facilitate the expansion of the platforms’ content library, enhance user experience through state-of-the-art technology, and reinforce their presence in the Middle East and North Africa region, as stated by Anghami on Monday (December 16).

“It also aims to drive innovations such as AI-powered personalization and next-generation streaming technologies,” the statement mentioned.

“This new round of funding reflects our unwavering belief in Angami’s potential to lead the MENA region in digital entertainment,” said OSN Group CEO Joe Kawkabani. “Together, we will continue to reimagine how audiences experience premium content, ensuring our platform remains a pioneer in the industry.”

Growth and Future Outlook

Anghami has reported significant growth in its video streaming user base post-merger. The Average Revenue Per User (ARPU) jumped 18% from April to October 2024.

Additionally, the company relaunched the OSN+ platform, resulting in increased user engagement, and introduced a new 4K premium plan featuring Dolby Atmos and Dolby Vision. Enhancements to the AI recommendation engine have also been made, which Anghami states “results in increased accessibility of content.”

“This new round of funding reflects our unwavering belief in Angami’s potential to become the MENA region’s leader in digital entertainment.”

Joe Kawkabani, OSN Group

“The success of this partnership is a testament to the power of collaboration and innovation,” stated Eli Habib, CEO of Anghami and OSN+.

“With this new investment from OSN Group, we are poised to further enhance the digital entertainment experience for MENA audiences and expand our reach.”

The fresh investment round comes months after Anghami resolved a legal dispute and entered into a licensing agreement with ESMAA, the first rights management agency operating in the GCC, launched by a music publisher based in the Middle East and North Africa, PopArabia, in 2020. That same year, PopArabia formed a joint venture with Reservoir and took on the role of sub-publisher for all Reservoir copyrights in the region.

While discussing the agreement, BIE Founder and CEO of PopArabia, Speck (Hussein Yusuf), explained the significance of the Anghami deal for ESMAA and the Gulf countries.

“We were able to secure this deal not only on behalf of the PopArabia and Reservoir repertoire but also to encompass virtually all of PopArabia’s sub-released repertoire, as well as on behalf of the ESMAA rights group, which includes IMPEL,” he stated.

“In fact, the vast majority of the independent music (publishing) community expects us to get this deal done. This is the first time that an organization in the Gulf has been able to carry out a transaction of this nature, where the scale of a global industry is channeled through a local organization.”