The problem
When Anghami launched in Beirut in 2012, the Middle East had no legal music streaming option: fans pirated Arabic tracks while artists earned nothing online, and global platforms ignored Arabic catalogs and local payment realities.
How it works
Anghami offers 57 million-plus licensed Arabic and international songs plus podcasts for streaming and download, free with ads or on premium, distributed heavily through telecom bundles across 16 countries. In April 2024 OSN Group folded its OSN+ video service into Anghami, so the platform now pairs music with premium video under one roof.
Pain points
Piracy as the default habit, zero Arabic-first streaming products, artists cut off from digital income, and mobile users with no credit cards to pay global services with.
Business model
Freemium subscriptions plus advertising, wholesale distribution through telecom operators, and premium video subscriptions via the merged OSN+ business.
Challenges
Spotify competes on catalog depth and R&D spend; royalty costs scale with every stream; and converting free, telecom-bundled users into paying subscribers in price-sensitive markets remains the core grind — now under a controlling shareholder pushing toward privatization.
Funding
- Listed on Nasdaq in Feb 2022 via a SPAC merger with Vistas Media valuing the company at $220M — the first Arab tech startup on Nasdaq (Wamda).
- Raised an earlier round from Dubai’s SHUAA Capital in Jan 2021 on undisclosed terms (LAFFAZ).
- In April 2024 OSN Group took a 55.45% majority stake at $3.69 per share and contributed the OSN+ video business (Music Business Worldwide).
Latest — Jun 2026
On 30 June 2026 Anghami disclosed a preliminary take-private proposal from controlling shareholder OSN Streaming Limited at $3.39 cash per minority share; OSN and affiliates already own 71.3% and state they will not sell to any third party (Music Business Worldwide).