Warner Bros. Discovery Invests In OSN Streaming Ltd.
OSN Group CEO Joe Kawkabani called the investment "a significant milestone in OSN’s growth journey."
American media and entertainment company Warner Bros. Discovery (WBD) has announced a minority investment in the MENA-based digital streaming platform OSN Streaming Ltd., a subsidiary of one of the region’s leading entertainment networks, OSN Group.
The transaction, which WBD has billed as indicative of its commitment to the region’s rapidly growing streaming landscape, is set to be completed in stages, subject to regulatory approvals.
The investment supports OSN’s position in the region following its exclusive partnership with American premium television network HBO in 2022, as well as its majority acquisition of the Abu Dhabi-based music streaming platform Anghami in April 2024.
Meanwhile, WBD’s move aligns with its strategy to work with the region’s creative talent, adopt new technologies, and establish partnerships as it expands its global streaming services like Max and Discovery+, which are now reaching nearly 117 million subscribers.
In a statement, Jamie Cooke, Executive Vice President and Managing Director for Central Europe, Turkey and Middle East at Warner Bros. Discovery said, "It’s our goal to tell the greatest stories, whilst innovating our products and distribution channels. OSN has been a great partner and custodian of our content, making this a natural step for WBD. We recognize that alongside enjoying the latest global hits, regional audiences also want stories from and about the region that reflect their own cultures and experiences. Through this deal, we’re delighted to announce that both OSN and Warner Bros. Discovery will invest in high-quality, locally produced content, ensuring a richer and more diverse offering for viewers."
Joe Kawkabani, CEO of OSN Group, added, “We are thrilled to welcome WBD as a strategic partner. As a global leader in entertainment, WBD brings unparalleled expertise, innovation, and a rich portfolio of iconic brands. This investment is a significant milestone in OSN’s growth journey, reinforcing our dedication to delivering unique and compelling content. It also bolsters our commitment to expanding our investment in local content, broadening its reach beyond MENA to global audiences.”
Pictured in the lead image is Joe Kawkabani, CEO of OSN Group. Image courtesy OSN Group.
