Anghami and OSN+ complete landmark merger

The deal, announced last November, is poised to redefine streaming across the Middle East. (Anghami/File)
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Updated 02 April 2024
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Anghami and OSN+ complete landmark merger

  • Merger has received all necessary regulatory approvals, say companies
  • New entity will have over 120 million registered users, 2.5 million paying subscribers and generate $100 million in revenue

LONDON: Music and entertainment streaming platform Anghami and premium video streaming service OSN+ have completed their landmark merger after receiving all necessary regulatory approvals.

The deal, announced last November, is poised to redefine streaming across the Middle East.

The Dubai-based OSN Group has invested $50 million into Anghami Inc., purchasing a 55.45 percent stake at a valuation of $3.69 per share.

The new entity will have over 120 million registered users, 2.5 million paying subscribers and is set to generate $100 million in revenue, making it a key player in the growing Middle East and North Africa market.

“We are two local, home-grown brands and that is very important because we are creating something that hasn’t been attempted yet in the region,” Elie Habib, one of Anghami’s two co-founders, said in a statement in November last year. Habib will take over as CEO of the merged company.

The companies said the merger would provide consumers with a one-stop digital hub, offering a comprehensive array of premium movies, TV shows, music, podcasts and more. This would ensure a seamless and immersive user experience featuring 18,000 hours of video content and Anghami’s vast collection of more than 100 million songs and podcasts.

Additionally, the companies said the new collaboration would leverage Anghami’s robust technological infrastructure to introduce AI-driven hyper-personalization features and cutting-edge products. 

Joe Kawkabani, CEO of OSN Group, hailed the merger as a game-changer, citing the “powerful” combination of content and technology.

“You combine the power of that content with the power of the technology, with the scale that the two companies create together,” he said. “We have a pretty unique proposition and I think we have all the ingredients to succeed and fight against international competitors.”


Instagram users given new algorithm controls

Updated 59 min 13 sec ago
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Instagram users given new algorithm controls

  • “Your Algorithm” shows users a summary of their top interests and lets them type in specific topics to customize their feed
  • The new feature, touted as giving users greater control, has launched in the US and will roll out globally soon

SAN FRANCISCO: Instagram on Wednesday unveiled a new AI-powered feature that lets users view and adjust the algorithm shaping their Reels feed, calling it a pioneering move toward greater user control.
The Meta-owned app is introducing “Your Algorithm,” accessible through an icon in the upper right corner of Reels — a user’s video feed — which displays the topics Instagram believes users are interested in based on their viewing history.
In a blog post, Meta said users can now directly tell the platform which subjects they want to see more or less of, with recommendations adjusting accordingly in real time.
Social media platforms have faced mounting pressure from regulators and users alike to provide greater transparency around algorithmic content curation, which critics say can create echo chambers or promote harmful content.
But companies also see algorithms as their platform’s ‘secret sauce’ for engaging users and have often resisted greater transparency.
“Instagram has always been a place to dive deep into your interests and connect with friends,” the company said in its blog. “As your interests evolve over time, we want to give you more meaningful ways to control what you see.”
The feature shows users a summary of their top interests and allows them to type in specific topics to fine-tune their feed.
Instagram said it is “leading the way” in offering such transparency and control, with plans to expand the feature beyond Reels to Explore and other sections of the app.
The tool launched Wednesday in the United States and will roll out globally in English “soon,” the company said.
The move came as Australia, in a world-first, banned people under age 16 from a raft of popular social media apps, including Instagram. The government said it aimed to “take back control” from tech giants and protect children from “predatory algorithms.”