Dubai — In a strategic move aimed at capturing the fast-expanding Middle Eastern streaming market, Warner Bros. Discovery has announced a minority stake acquisition in Dubai-based OSN Streaming Ltd., marking another milestone in its regional expansion.
The $57 million investment, which will give Warner Bros. roughly one-third ownership in the OSN streaming unit, was confirmed by Joe Kawkabani, CEO of OSN Group, in a recent interview. The transaction will be executed in phases and remains subject to final regulatory approvals, the companies stated jointly.
The deal is expected to deepen collaboration between the two entertainment giants, building on existing licensing agreements and paving the way for the production of locally developed content aimed at Arabic-speaking and regional audiences.
“Whether it’s producing content, expanding our library, or delivering higher-quality offerings — this partnership is focused on creating content that resonates with Middle Eastern viewers,” said Kawkabani.
Strengthening Regional Content Ecosystems
The partnership aligns with both companies’ long-term strategy of investing in local content to attract a growing demographic of tech-savvy and younger audiences in the region. The Middle East has become a battleground for global streaming platforms, fueled by rising disposable incomes and increasing digital consumption.
For OSN, the partnership marks a continuation of its efforts to solidify its position in a competitive marketplace, where local players like Starzplay and MBC Group are going head-to-head with Netflix and Amazon Prime Video.
Warner Bros.' investment complements previous collaborations, including a multi-year licensing deal with HBO, sealed in 2022, giving OSN exclusive rights to stream a broad portfolio of premium series. Additionally, OSN gained exclusive rights to Warner Bros.' film catalogue in 2023, reinforcing its content leadership in the region.
Reducing Fragmentation, Building Synergy
According to Jamie Cooke, Executive Vice President and Managing Director of Warner Bros. Discovery’s Central Europe, Turkey, and Middle East operations, the rationale behind such partnerships is to streamline offerings in an increasingly crowded digital space.
“This is the final piece of the puzzle for our ecosystem in the Middle East. We don’t anticipate more M&A in the region after this,” Cooke noted, while acknowledging that future developments could always shift strategic priorities.
The OSN streaming unit also holds a majority stake in Anghami Inc., a regional music-streaming platform positioned as a key competitor to global players like Spotify and Deezer. This further diversifies Warner Bros.’ footprint in digital media and entertainment within the region.
A Growing Market Attracting Global Players
With a young population and rapidly expanding digital infrastructure, the Middle East remains an attractive market for global entertainment and tech companies. The Warner Bros.–OSN deal not only reflects confidence in regional growth but also represents a shift toward localized strategies over direct-to-consumer expansions.
The transaction signifies Warner Bros.' second major investment in a regional streaming platform, following its full acquisition of Turkey's BluTV in 2023, after initially acquiring a 35% stake two years prior.
As regional content demand accelerates, this investment underscores the importance of strategic local alliances in shaping the future of entertainment in the Arab world.
About OSN
Headquartered in Dubai, OSN Group is a leading entertainment network serving the Middle East and North Africa (MENA) region. The company provides a wide array of international and local television content through its satellite and streaming platforms.
About Warner Bros. Discovery
A global leader in entertainment, Warner Bros. Discovery owns some of the most valuable content and brands, including Warner Bros. Pictures, HBO, Discovery Channel, CNN, and DC. The company continues to expand its global presence through strategic partnerships and localized investments.
