OSN+, Anghami to create streaming rival to Netflix, Spotify
Dubai’s OSN+ is set to create a streaming giant with Abu Dhabi’s Anghami to rival Netflix and Spotify, Bloomberg reported on Tuesday.
This will be achieved through a conditional binding agreement between OSN+ and Anghami.
The deal will help unify over 120 million users from two homegrown regional platforms, including 2.5 million paying subscribers, and $100 million in revenues annually.
The new platform will benefit from OSN+’s premium video library with content partners such as HBO, NBC Universal, and Paramount.
This is also combined with Anghami’s vast music catalog featuring exclusive releases from regional stars.
The new company is set to become an immersive entertainment giant in Middle Eastern streaming, with a huge library of audio and visual content.
The deal shall be finalised by the end of the first quarter (Q1) of 2024.