Anghami Bags US$55 Million Investment from OSN Group
The funds will help both platforms expand their content libraries, advance streaming technologies, and improve user personalization.
(From left to right: Anghami's Elie Habib with OSN Group's Joe Kawkabani. Image courtesy OSN Group.)
Abu Dhabi-based music and entertainment streaming platform Anghami has secured a new US$55 million funding round from one of the MENA’s leading entertainment networks, OSN Group, which includes an initial $12 million investment through a convertible note program.
The investment will help both platforms expand their content libraries, advance streaming technologies, and improve user personalization.
This follows the announcement in April this year that OSN – a subsidiary of Kuwait Projects Company Holding (KIPCO) – had acquired a 55.45 percent stake in Anghami Inc., for a cash investment totaling $38 million.
The collaboration brought together Anghami’s extensive library of over 100 million audio tracks with OSN’s premium video streaming platform OSN+, which offers 18,000 hours of content. Since the partnership began, the two platforms have achieved a 41 percent rise in video streaming subscribers between April and October 2024.
In a statement, Elie Habib, CEO of Anghami and OSN+, said, "The success of this partnership is a testament to the power of collaboration and innovation. With this new investment from OSN Group, we are poised to elevate the digital entertainment experience for MENA audiences even further and expand our reach."
Joe Kawkabani, CEO, OSN Group, added, "This new round of funding reflects our unwavering belief in Anghami's potential to lead the MENA region in digital entertainment. Together, we will continue redefining how audiences experience premium content, ensuring our platform remains a pioneer in the industry."
Anghami was founded in Lebanon in 2011, while OSN Group was established in 2009 by the merger of the two largest subscription TV networks in the region, namely Orbit and Showtime Arabia.
