Middle Eastern streaming platform OSN's CEO, Joe Kawkabani, steps down from his position.
OSN and Anghami Form a Powerhouse in the Middle East's Streaming Landscape
The Middle East's online media and streaming industry is experiencing a significant shift, as OSN, a leading web-streaming platform, and Anghami, a prominent MENA-based music streaming service, have merged to create a unified multimedia service.
In April 2024, OSN acquired a 55.45% stake in Anghami, merging its streaming platform OSN+ with Anghami. This move has resulted in a streaming powerhouse offering both video and audio content to over 120 million registered users across the Middle East and North Africa region.
Joe Kawkabani, the CEO of OSN Group during this period, played a pivotal role in driving the company's growth and leading this transformative merger and integration. The strategic combination aimed to enhance the online media and streaming landscape in the Middle East by pooling content and expanding user reach across both video and music streaming markets.
Following the merger, OSN extended its market presence through long-term licensing deals, such as an exclusive multi-year agreement with HBO, and emphasised developing Arabic-language content under its OSN Originals brand.
The ownership and financial details show that as of July 2025, OSN (controlled mainly by Kuwait Projects Company - Kipco) increased its control and influence over Anghami's operations, beneficially owning approximately 70.8% of Anghami’s outstanding stock through direct shares, warrants, and convertible notes worth at least $55 million in convertible debt.
The impact of this deal has been profound:
- It created a streaming powerhouse combining video and music content, appealing to a broader audience in the region.
- It drew investor confidence, as highlighted by Anghami’s stock surging over 11% after OSN increased its stake.
- The merger enabled OSN to leverage advanced advertising technologies and partnerships, such as working with Magnite for addressable advertising and Mastercard for innovative marketing campaigns, enhancing monetization opportunities and user engagement.
- OSN’s broad content licensing and original content efforts positioned it as a leading regional contender against global streaming services, helping to shape the media consumption patterns in the Middle East.
Joe Kawkabani stepped down as OSN CEO in July 2025 after three years at the helm, marking a transitional moment for OSN as it builds on this strategic foundation to pursue further growth. The specifics of his new challenge were not provided.
Earlier in the year, OSN also completed a deal with Warner Bros. Discovery, though details about the specifics of this partnership were not disclosed. The media industry is currently facing a challenging but exciting time, according to Joe Kawkabani. Despite the changes, OSN Streaming continues to hold its own in a market where Netflix leads and there is strong competition from regional and other international OTTs.
References: [1] Al Arabiya English (2025, July 1). OSN boosts stake in Anghami to 70.8%. Retrieved from https://english.alarabiya.net/business/media-entertainment/2025/07/01/OSN-boosts-stake-in-Anghami-to-70-8 [2] Variety (2024, April 20). OSN and Anghami Merge to Create a New Streaming Powerhouse. Retrieved from https://variety.com/2024/tv/news/osn-anghami-merger-streaming-powerhouse-1235236562/ [3] The National (2025, July 5). OSN CEO Joe Kawkabani steps down after three years. Retrieved from https://www.thenationalnews.com/business/media/2025/07/05/osn-ceo-joe-kawkabani-steps-down-after-three-years/ [4] Gulf Business (2025, July 1). OSN boosts stake in Anghami to 70.8%. Retrieved from https://gulfbusiness.com/osn-boosts-stake-in-anghami-to-70-8/
- The acquisition by OSN of a significant stake in Anghami has led to the formation of a robust streaming powerhouse, offering both video and audio content to millions across the Middle East and North Africa region.
- The synergy between the two entities in the media and streaming industry has attracted investor interest, as evidenced by Anghami's stock surge following OSN's increased stake.
- With the merger, OSN has access to advanced advertising technologies, enabling them to collaborate with companies like Magnite for addressable advertising and Mastercard for innovative marketing campaigns, amplifying revenue generation and user engagement.
