Middle East streamer OSN+ and Anghami to merge into comprehensive, entertainment platform ...Egypt

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Dubai-based streaming service OSN+ and music streaming platform Anghami, based in the UAE, announced they would be merging into one of the largest entertainment streaming services companies in the Middle East, as part of their efforts to confront competition such as Spotify and Netflix. As part of the deal, OSN Group, the parent company of OSN+, will inject US$50 million into Anghami, becoming its majority shareholder. The two companies said in a joint statement that the new entity will include more than 120 million registered users, 2.5 million paid subscriptions, and revenues of $100 million. “We are two local brands, and this is very important because we are creating an experience that

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Last updated : 22 Nov 2023 clock 04:00 PM

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Middle East streamer OSN+ and Anghami to merge into comprehensive, entertainment platform ...Egypt

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