With a $12 million initial investment in a convertible note program, Anghami Inc. (NASDAQ: ANGH) has announced that it has secured a substantial new round of funding from OSN Group of up to $55 million, building on the success of their partnership. This investment strengthens Anghami Inc.’s position as the premier source for high-quality audio and video content and marks an important turning point in the company’s mission to reinvent digital entertainment in the MENA region.
The partnership has produced strong growth since OSN and Anghami Inc. first partnered strategically in April 2024, combining Anghami’s extensive audio library of more than 100 million songs and podcasts with OSN+’s unmatched premium video streaming capabilities and 18,000 hours of content.
Highlights include:
- Rebuilt and relaunched the new OSN+ platform, resulting in increased time spent and higher engagement of subscribers
- Launched the new 4K Premium Plan with Dolby Atmos and Dolby Vision
- Delivered 41% growth in video streaming subscribers between April and October 2024.
- Implementation of sophisticated improvements in the AI recommendation engine, resulting in enhanced content discoverability
By strengthening their presence throughout the MENA region, expanding their content library, and improving user experience through cutting-edge technologies, this most recent investment seeks to accelerate the growth trajectory of Anghami and OSN+. Additionally, it aims to propel innovations like next-generation streaming technologies and AI-driven personalization.
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.”
