News

Anghami & OSN+ Announce Landmark Investment Deal

The collaboration will result in the first MENA platform to provide video and music, backed by a $50 million cash injection.

Published

1 year ago

November 21, 2023

Nour Nasir

anghami and osn+ announce landmark investment merge deal

Leading MENA streaming platform Anghami has announced a milestone deal that will see the music and entertainment company join forces with video provider OSN+.

According to a recent press release, combining the two home-grown brands will “offer consumers unprecedented digital aggregation of the best and latest in premium movies, TV shows, music, podcasts, and more while providing a rich and seamless user experience”.

When the collaboration is completed, Anghami will become one of the region’s largest streaming platforms, augmenting its already massive catalog of 100 million songs with 18,000 hours of video from OSN+, including content from HBO, NBC Universal, Paramount, and leading MENA studios.

anghami and osn+ announce landmark investment deal

Elie Habib, co-founder of Anghami and soon-to-be CEO of the combined venture, commented: “Joining forces with OSN+ is a leap in Anghami’s journey to reinvent entertainment in the Arab world. We’re combining technology, music, and video to build a comprehensive media ecosystem. It’s a chance to deepen our connection with our users and create something they will love”.

Joe Kawkabani, CEO of the OSN Group, added: “This is a major milestone in OSN’s journey as we continue to scale up our streaming business. Combining OSN+ content with Anghami’s technology enables us to deliver the best of entertainment all in one place for our customers, ensuring we are continuously evolving our offering to meet their needs. As two home-grown entities with an unmatched understanding of the local market, we are confident that this new offering will change the face of the regional streaming landscape”.

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The OSN Group has pledged to invest in Anghami at $3.65 per share — nearly four times the average price for the past month. The full transaction is expected to close in Q1 2024, at which point OSN will own a majority stake in Anghami.

News

1,000 Drones Light The Dubai Sky For AC Milan Celebration

Cyberdrone’s groundbreaking display marked 125 years of AC Milan football club and the 1st-year anniversary of Casa Milan Dubai.

Published

8 hours ago

November 21, 2024

Nour Nasir

Cyberdrone, a leading UAV display company based in Dubai, put on a breathtaking drone light show on Monday to honor two significant football milestones: AC Milan’s 125th anniversary and the one-year anniversary of Casa Milan Dubai.

The spectacle involved 1,000 drones working in perfect harmony to project AC Milan’s iconic imagery against the city’s night sky. Highlights included the UAVs synchronizing to form the club’s iconic crest, the signature red and black jersey, and a special emblem marking its 125th year. The intricate performance demanded meticulous planning, not just in terms of choreography, but also in dealing with the necessary permits and logistics.

cyberdrone ac milan dubai

“Our goal was to spotlight AC Milan’s legacy through a stunning visual narrative,” explained Mohamed Munjed Abdulla, Director of Sales at Cyberdrone. “We celebrated the club’s history, its Dubai milestone, and the universal love for football. The show also enhanced AC Milan’s regional presence, growing its fanbase through a cutting-edge, memorable experience. Drone shows are unparalleled in leaving lasting impressions, making them perfect for driving partnerships and growth”.

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Greta Nardeschi, AC Milan’s Regional Director for MENA, echoed the sentiment, adding: “Collaborating with Cyberdrone for this 1,000-drone performance allowed us to connect with our fans in innovative ways. It gave us a unique opportunity to surprise and inspire audiences while elevating our Club’s visibility and that of our partners. Cyberdrone truly helped us take AC Milan to new heights”.

This groundbreaking drone display sets a new benchmark for the Middle East’s sports sector, which already contributes around $2.4 billion annually to Dubai’s GDP alone. Sporting events also generate $1.76 billion in revenues across the region, while the MENA’s entertainment sector, valued at $41.13 billion, is growing at 9.41% annually, driven by rapid technological advancements.