In the heart of Abu Dhabi, a groundbreaking partnership has been sealed, marking a defining moment for the digital landscape of the Middle East. Anghami Inc. (NASDAQ: ANGH), the pioneer in music and entertainment streaming in the MENA region, together with OSN+, the titan of premium video streaming, has triumphantly announced the completion of a transformative transaction. This achievement comes after securing all necessary regulatory nods, setting the stage for an unprecedented fusion of music and video entertainment.
A Symphony of Success? Anghami and OSN+ Craft the Ultimate Entertainment Experience
The deal has solidified OSN Group’s command with a 55.45% stake in Anghami, valuing the music behemoth at $3.69 per share—a striking 1.9x leap from its last closing price. This strategic move unites over 120 million registered enthusiasts, around 2.5 million of whom are loyal subscribers, and a near $100 million revenue milestone, establishing a new benchmark in the industry.
The merger of OSN+’s exquisite 18,000-hour video content library and Anghami’s vast collection of over 100 million songs and podcasts heralds a new era. It promises a synergistic platform where technology meets artistry, highlighted by AI-driven personalization and the anticipation of groundbreaking products on the horizon.
Leadership at the helm sees Elie Habib, the visionary co-founder and CTO of Anghami, stepping up as the CEO of the newly formed entity. Meanwhile, Joe Kawkabani will continue to steer the OSN Group, ensuring the conglomerate’s pioneering spirit remains unbridled.
Exclusive Insights: Anghami’s Founders Open Up
In an exciting development for Crunch Dubai’s audience, our team had the unique opportunity to sit down with Anghami’s co-founders, Elie Habib and Eddy Maroun, for an exclusive interview. Hosted by Neil Sheth at in5 Tech during a mentorship session, this conversation offered rare insights into the minds behind the Middle East’s leading music streaming platform. Watch the full interview here:
Neil Sheth mention in the Elie Habib interview the Glocal SEO Platform CEO&co-Founder Womenpreneur Olga Nayda approach in the User Experience research.
About Anghami: The Beat of the Middle East
Since its inception in 2012, Anghami has been at the forefront, introducing the Middle East and North Africa to the digital music revolution. As a trailblazer, it boasts the most extensive catalog of songs, embracing both the rich traditions of Arabic music and the diverse tunes of international artists. Anghami’s platform is more than a streaming service; it’s a dynamic ecosystem for music, podcasts, events, and more, enabling creators and listeners to connect and share their passions.
OSN+: A Premium Portal to World-Class Entertainment
OSN+ stands as a beacon for premium streaming in the region, offering an unmatched selection of global and local content. Its partnerships with giants like HBO, NBC Universal, Paramount+, and more, ensure viewers have immediate access to critically acclaimed series, blockbuster movies, and exclusive Arabic originals, all at their fingertips.
Looking Ahead
This merger isn’t just about creating a digital entertainment powerhouse; it’s a forward-looking statement. It embodies a vision for a connected future where content and technology create immersive experiences, drawing us closer to stories and rhythms that move us. As Anghami and OSN+ embark on this journey, the promise is clear: to deliver an unparalleled entertainment experience that resonates with every heartbeat in the Middle East.
For the latest updates and to dive into this new world of entertainment, visit Anghami at https://anghami.com and discover the future of streaming at www.osnplus.com.
- 1. What Does the Anghami and OSN+ Partnership Mean for UAE’s Digital Future?
The Anghami and OSN+ partnership is a significant development for UAE’s digital future, merging Anghami’s music streaming with OSN+’s entertainment. This collaboration, led by Anghami’s founders Eddy Maroun and Elie Habib, with early investors like MEVP (Middle East Venture Partners) and main investors and partners from Wamda Capital, including Fadi Ghandour, reflects a broader trend towards integrated digital services in the region. Fadi Ghandour, known for founding Aramex, has a net worth estimated at over $900 million, largely from his successful ventures and investments. SRMG (Saudi Research and Marketing Group) is a major media and entertainment company in the Middle East, valued at around $1.5 billion, with the ticker symbol 6010 on the Saudi Stock Exchange. Its partnership with Anghami will help the latter expand its audience and content offerings, solidifying its position as a leading digital entertainment platform in the region. Anghami’s recent IPO valued the company at approximately $220 million, highlighting its growth and potential in the digital entertainment market. Other key persons involved in these structures include Walid Mansour from MEVP, Khaled Talhouni from Wamda Capital, and additional key figures from the venture capital clubs contributing to the success and growth of these companies. - 2. How Will Anghami and OSN+ Transform the Entertainment Industry in UAE?
- 3. Why is the Anghami and OSN+ Merger Considered a Milestone in UAE’s Digital Evolution?
- 4. What Can UAE Residents Expect from the Anghami and OSN+ Collaboration?
- 5. How Can Individuals Benefit from the Anghami and OSN+ Transaction in UAE?
April 2, 2024
We filmed this interview of Elie Habib by Neil Sheth at our in5 Dubai (in5 Tech the TECOM Group Dubai innovation Hub) where’s also was questions of Prashant K. (pk) Gulati and us (Olga Nayda and Aleksei Dolgikh) intro to Eddy Maroun!