Warner Bros. Discovery has agreed to acquire a 30% minority stake in Dubai-based OSN Streamin g Ltd. for $57 million, aiming to strengthen its footprint in the Middle Eastern entertainment market.
The transaction will be completed in stages, pending regulatory approvals. OSN Streaming, a subsidiary of OSN Group, offers regional audiences a range of global and local TV series and films.
This investment builds upon existing collaborations between the two companies. In 2022, OSN secured an exclusive multi-year licensing agreement with HBO, a Warner Bros.-owned network, to broadcast and stream its content. Additionally, OSN obtained exclusive rights to Warner Bros.’s film catalogue last year.
The partnership includes joint investments in locally produced content to appeal to regional viewers.
The Middle East’s streaming market has experienced significant growth. The region’s subscription video-on-demand (SVOD) services market generated over $1 billion in revenues in 2023 and is projected to surpass $1.2 billion in 2024.
This move aligns with Warner Bros. Discovery’s strategy to diversify and expand its global presence amid evolving media consumption trends.
