Anghami

Abu Dhabi-based, Nasdaq-listed streaming company founded in Beirut in 2012. It runs the Anghami music service and the OSN+ video service, and is about 67% owned by OSN Streaming.

Industry: Music and video streaming | Location: Abu Dhabi, United Arab Emirates | Founded: 2012

About Anghami

Anghami is a streaming company serving the Middle East and North Africa. It began as a music streaming service and, since combining with OSN+ in 2024, also operates premium video streaming. The company is listed on Nasdaq and is majority-owned by OSN Group. Anghami was founded in Lebanon by Eddy Maroun and Elie Habib. Maroun conceived the idea in 2011, and the pair launched the service in 2012, at a time when the region had no proper licensed digital music service. It was first released as a mobile-only app, built around Arabic and international catalogues licensed from music labels, with partnerships across telecom operators, advertisers and media companies. In 2021 Anghami agreed to merge with Vistas Media Acquisition Company, a Nasdaq-listed special purpose acquisition company that had raised USD 100 million in its August 2020 IPO. The deal implied an initial pro-forma enterprise value of about USD 220 million, and SHUAA and Vistas Media Capital gathered USD 40 million in PIPE commitments. The transaction made Anghami the first Arab technology company to list on Nasdaq in New York, trading under the ticker ANGH. At the time it offered more than 57 million songs to over 70 million registered users. In March 2024 MBC Group acquired a 13.7% stake in the company, and on 2 April 2024 OSN+ completed the acquisition of a 55.45% stake, combining the two platforms. The merged business brought together more than 100 million songs and 18,000 hours of video content. Habib, previously chief technology officer, was named to lead the combined entity as chief executive. In March 2025 Warner Bros. Discovery closed a USD 57 million minority investment in OSN Streaming Limited, expanding its content partnership and committing to joint investment in regional original productions. Other commercial agreements include OSN+ partnerships with Noon, a distribution agreement with talabat, and a bundle with Shahid and Disney+. For the first half of 2025 Anghami reported revenue of USD 48.4 million, up 97% year on year, with 3.54 million paid subscribers at the end of June and a net loss of USD 37.1 million, which it attributed to subscriber acquisition spending for OSN+ and integration costs. For the full year 2025 it reported revenue of USD 99.3 million, up 27% from USD 78.1 million in 2024, more than 3.5 million paid subscribers across Anghami and OSN+, and over 130 million registered users.

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