Anghami Inc Dossier
Qualitative Analysis
Business overview
Anghami Inc. (NASDAQ: ANGH) is the leading music and entertainment streaming platform in the Middle East and North Africa (MENA) region. Co-founded in 2012 by Elie Habib and Eddy Maroun, the company relocated its headquarters to Abu Dhabi, UAE, in 2021. Anghami provides users with access to a massive catalog of over 100 million songs and podcasts, alongside premium video content. In April 2024, Anghami completed a transformative merger with OSN+, a premier regional video streaming service, creating a digital entertainment super-app that combines localized music streaming with premium Hollywood and regional video content. The company operates a freemium model consisting of ad-supported free tiers and premium subscription plans (Anghami Plus and OSN+), heavily supported by strategic distribution partnerships with over 45 mobile telecommunications operators across 16 countries.
Research as of 20 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Rebuilding the OSN+ streaming platform in-house to integrate proprietary technology, including AI-powered recommendations and a unified streaming interface.
Expected impact: Delivered 99.9% uptime, improved app store ratings from 3.8 to 4.6 stars, and enhanced user experience to drive conversion from music-only to comprehensive entertainment subscriptions.
Expanding distribution channels through high-impact regional partnerships, including Noon, talabat, and the 'Epic Bundle' with Shahid and Disney+.
Expected impact: Aims to lower customer acquisition costs, increase average revenue per user (ARPU), and expand the addressable audience across the MENA region.
Expanding the commercial department and brand solutions business by helping regional brands move beyond traditional ad space into custom music economy integrations.
Expected impact: Aims to accelerate high-margin advertising revenue and build on the success of producing custom brand stories and original songs.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Recent Acquisitions
To merge the leading music streaming platform in MENA with a premier video streaming service, creating a digital entertainment powerhouse with over 120 million registered users and a combined library of 100 million songs and 18,000 hours of video.
Financial impact: Drove a 27% year-over-year increase in consolidated revenue to $99.3 million in FY2025, reflecting the first full-year contribution of the consolidated video segment.
Strategic Partnerships
Secures exclusive regional access to HBO content, Max Originals, and global hits for OSN+ viewers, while committing to joint investments in regional original productions.
Terms: $57 million minority investment by Warner Bros. Discovery in OSN Streaming Limited closed in March 2025.
Integrates Anghami and OSN+ directly into Samsung's 'StreamPass' entertainment concept, providing seamless access to world-class content across Samsung's latest product ecosystem.
Terms: Voucher-based and direct integration terms (undisclosed financial specifics).
Expands OSN+ and Anghami distribution across the MENA region, creating new customer acquisition channels expected to accelerate subscriber growth.
Terms: Undisclosed