Anghami reports 18.3% rise in video streaming subscribers post merger

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Anghami, the leading multimedia streaming platform in the MENA region, announced an 18.3 per cent increase in its video streaming subscriber base as of July, following its recent strategic transaction with OSN+.

Anghami, founded in 2011 by Eddy Maroun and Elie Habib, and OSN+, owned by Kuwait Projects Company Holding (KIPCO), announced in November 2023 their merger into one entity in a $50m deal. The acquisition was completed in April.

OSN Group acquired 55.45 per cent of Anghami, giving it a majority stake at a valuation of $3.69 per share.

The combined entity brought together OSN+’s premium and exclusive library of 18,000 hours of video content with Anghami’s rich catalogue of more than 100 million songs and podcasts.

Factors driving growth for Anghami and OSN

The premiere of House of the Dragons Season 2 was a significant driver of this growth, with 47 per cent of new subscribers opting for Anghami’s newly launched Premium 4K plan, reflecting strong demand for high-quality content in the region.

“The Anghami-OSN+ transaction has exceeded our expectations, not only in terms of subscriber growth but also in enhancing our ability to deliver premium entertainment across both music and video,” said Elie Habib, CEO of Anghami. “Our strategic moves post-merger are already driving success.”

Strategic initiatives 

The platform’s recent growth is attributed to several strategic initiatives:

Cross-selling efforts, including free OSN+ trials for Anghami users, have resulted in conversion rates exceeding 30 per cent. A partnership with UAE and KSA e-commerce platform Noon integrated OSN+ benefits into Noon One memberships, while a collaboration with Mobily Saudi Arabia bundled Anghami Plus and OSN+ in their Postpaid XStream packages, supported by extensive advertising.

Anghami secured an exclusive multi-year deal with Warner Bros. Discovery, bringing Max Originals and Warner Bros. films to OSN+. September’s lineup includes highly anticipated releases such as The Penguin, Dune: Prophecy, and Godzilla x Kong: The New Empire.

OSN+ has implemented advanced AI algorithms to enhance content recommendations, improving user engagement by offering personalised show and movie suggestions while filtering out less relevant content.