In a strategic move to strengthen its foothold in the Middle East’s booming streaming market, Warner Bros. Discovery (WBD) has acquired a 30% equity stake in Dubai-based OSN+, the flagship streaming platform of OSN Group, for $57 million.
The investment underscores the growing demand for localized content in the MENA region and marks a new phase of collaboration between the two media giants.
The deal, pending regulatory approvals, will see both companies co-invest in original regional productions, aiming to capture the attention of Arab audiences increasingly drawn to homegrown stories.
This aligns with OSN+’s recent push to diversify its content library, following its $55 million investment in Lebanese music-streaming app Anghami in late 2023.
OSN and WBD have a history of partnerships, including a multi-year HBO content licensing agreement (2022) and exclusive rights to Warner Bros.’ film catalog. According to Joe Kawkabani, CEO of OSN Group, the equity deal will “facilitate discussions” on expanding offerings, though future collaborations will remain subject to separate commercial terms.
The MENA streaming market is projected to grow at a 15% CAGR through 2027, driven by high youth demographics and rising digital adoption. By combining OSN+’s regional expertise with WBD’s global IP, the partnership aims to compete with rivals like Netflix and Shahid while catering to Arab viewers’ demand for culturally relevant narratives.
“This deal is about creating better content—whether through production, library expansion, or innovation.”
— Joe Kawkabani, CEO, OSN Group
“Our investment reflects confidence in OSN+’s platform and the MENA region’s potential.”
— Warner Bros. Discovery Spokesperson
