Anghami Business Summary

Anghami Inc. (ANGH) operates as the leading multi-media streaming ecosystem in the Middle East and North Africa (MENA), following its transformative 2024 merger with the video streaming service OSN+. The company employs a diversified revenue model primarily driven by premium subscriptions, which surged following the integration of OSN+’s video library, alongside advertising revenue from its free tier and ticket sales from its live events subsidiary, Spotlight. Its business segments are bifurcated into digital audio (music and podcasts) and premium video streaming, featuring exclusive content from major studios like HBO, Paramount, and NBCUniversal. Within the MENA landscape, Anghami maintains a dominant regional foothold against global giants such as Spotify, Apple Music, and Deezer by leveraging localized content curation, deep telco integrations for billing, and a unique "super app" value proposition that combines music and video in a single interface. The company was co-founded in 2012 by Elie Habib and Eddy Maroun, both of whom remain central to its strategic direction. Elie Habib, formerly the CTO, currently serves as the Chief Executive Officer, bringing a deep technical pedigree in software engineering and digital infrastructure. Eddy Maroun continues to serve as a Co-founder and Director, utilizing his extensive background in the regional music industry to drive content partnerships. The leadership team is further bolstered by CFO Laura Herbin and Chief Business Officer Choucri Khairallah. As of early 2026, the Board is chaired by Meshal Ali, who also serves as the interim CEO of OSN Group. Anghami is backed by high-profile institutional investors including the OSN Group (a subsidiary of Kuwait Projects Company, KIPCO), which holds a majority stake, and Warner Bros. Discovery, which maintains a strategic investment in the platform's parent entity.