Anghami Reports Significant Subscriber Growth and Strategic Milestones Following OSN Merger
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Anghami reports 18.3% rise in video streaming subscribers post merger
Image: Getty Images 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.
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Anghami reports 18.3% subscriber growth and strategic milestones following OSN+ transaction
Abu Dhabi, UAE - Anghami (NASDAQ: ANGH), the leading multi-media streaming platform in the MENA region, announced a 18.3% growth in its video streaming subscriber base and significant strategic developments following its recent transaction with OSN+. Substantial Subscriber Growth and Premium Adoption Since the transaction, Anghami's video streaming user base grew by 18.3% as of the end of July 2024, with the recent premiere of "House of the Dragons" Season 2 serving as a key catalyst. Notably, 47% of new subscribers have opted for the newly launched Premium 4K plan, signaling strong demand for high-quality content in the MENA market. Elie Habib, CEO of Anghami, commented, "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. Our strategic moves post-merger are already driving success". Strategic Initiatives Driving Growth Anghami's video streaming growth strategy includes several key initiatives: Partnerships: Cross-selling initiatives have expanded reach through targeted marketing activations. These include offering free OSN+ trials to Anghami users, yielding conversion rates exceeding 30%. A strategic partnership with Noon, a leading e-commerce platform in UAE and KSA, offers OSN+ benefits to Noon One customers as part of a major marketing campaign. Additionally, a collaboration with Mobily KSA bundles Anghami Plus and OSN+ in their Postpaid XStream packages, supported by extensive out-of-home and online advertising. Content Expansion: An exclusive multi-year agreement with Warner Bros. Discovery enriches OSN+ with premier Max Originals and Warner Bros films. September's lineup includes "The Penguin" starring Colin Farrell as the much-awaited Batman supervillain, a new season of "FROM", the fourth installment of "My Brilliant Friend", and the critically acclaimed "Wonka" movie. Upcoming releases feature "Dune: Prophecy" movie, "Dune: Part 2" series, "Godzilla x Kong: The New Empire" movie & more to be announced. AI-Powered Personalization: OSN+ has implemented sophisticated artificial intelligence algorithms to tailor content recommendations. This advanced system not only suggests shows and movies aligned with each user's unique tastes but also intelligently curates the offerings, removing suggestions that fail to pique interest. Consequently, this dynamic approach has led to an increase in content diversity consumption. Anghami remains committed to innovation and growth, aiming to further solidify its position as the premier entertainment streaming platform in the MENA region. About Anghami Inc. Anghami (NASDAQ: ANGH) is the leading multi-media technology streaming platform in the Middle East and North Africa ("MENA") region, offering a comprehensive ecosystem of exclusive premium video, music, podcasts, live entertainment, audio services and more. Since its launch in 2012, Anghami has led the way as the first music streaming platform to digitize MENA's music catalog, reshaping the region's entertainment landscape. In a strategic move in April 2024, Anghami joined forces with OSN+, a leading video streaming platform, forming a digital entertainment powerhouse. This pivotal transaction strengthened Anghami's position as a go-to destination, boasting an extensive library of over 18,000 hours of premium video, including exclusive HBO content, alongside 100+ million Arabic and International songs and podcasts. With a user base exceeding 120 million registered users and 2.5 million paid subscribers, Anghami has partnered with 47 telcos across MENA, facilitating customer acquisition and subscription payment, in addition to establishing relationships with major film studios, entertainment giants, and music labels, both regional and international. Headquartered in Abu Dhabi, UAE, Anghami operates in 16 countries across MENA, with offices in Beirut, Dubai, Cairo, and Riyadh. To learn more about Anghami, please visit: https://anghami.com. For more information, please contact: Amal Subhash [email protected] Impact Porter Novelli
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Anghami, the leading music streaming platform in the Middle East and North Africa, has experienced a substantial increase in video-on-demand subscribers and achieved key strategic goals after its merger with OSN's streaming business.
Subscriber Growth and Merger Impact
Anghami, the Middle East and North Africa's premier music streaming platform, has reported a remarkable 183% increase in video-on-demand (VOD) subscribers following its strategic merger with OSN's streaming business 1. This significant growth comes just three months after the completion of the transaction, demonstrating the immediate positive impact of the merger on Anghami's user base and market position.
Expanded Content Offerings
The merger has substantially enhanced Anghami's content library, particularly in the video streaming sector. The platform now boasts an impressive collection of over 40,000 hours of premium Arabic and Western content 2. This expansion includes a diverse range of TV series, movies, and kids' content, catering to a broader audience and solidifying Anghami's position as a comprehensive entertainment provider in the region.
Strategic Partnerships and Growth
Anghami has leveraged its strengthened market position to forge new strategic partnerships. The company has successfully renewed its agreement with Rotana Music, the largest record label in the Arab world 2. This renewal ensures that Anghami's users will continue to have access to a vast array of popular Arabic music content, further enhancing the platform's appeal to its core audience.
Technology Integration and User Experience
Following the merger, Anghami has focused on integrating OSN's streaming technology with its own platform. This integration aims to create a seamless user experience across both audio and video content. The company has reported that the technology merger is progressing well, with plans to fully integrate the two platforms in the coming months 1. This technological advancement is expected to further improve user engagement and satisfaction.
Market Position and Future Outlook
The successful merger and subsequent growth have strengthened Anghami's position in the competitive streaming market. With its expanded content library, increased subscriber base, and enhanced technological capabilities, Anghami is well-positioned to capitalize on the growing demand for digital entertainment in the Middle East and North Africa region 2. The company's management has expressed optimism about future growth prospects and continued market leadership.
Financial Performance and Investor Confidence
While specific financial details were not disclosed in the recent announcements, the significant increase in subscribers and strategic achievements have likely positively impacted Anghami's financial performance. The company's success in executing its growth strategy and expanding its market presence may contribute to increased investor confidence and potentially attract further investment in the future 12.
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