- Saudi Research & Media Group (SRMG) has acquired a controlling stake (51 per cent) in Arabic podcast platform Thmanyah.
Founded in 2016, the Saudi Arabia-based podcast platform claims to have attracted over 1.6 million average monthly listeners and 15 million viewers to its award-winning Arabic podcasts and documentaries.
The acquisition will enable Thmanyah to create more content and tap into new genres and geographies, leveraging SRMG’s global network and reach.
The deal is part of SRMG’s new strategy that focuses on adding more digital platforms to its existing 30-media outlets portfolio.
The Saudi Research & Media Group (SRMG) announced Wednesday the acquisition of a 51 per cent controlling stake in Arabic podcast platform Thmanyah, one of the leading podcast platforms and documentary producers in the Middle East and North Africa (Mena) region.
SRMG’s acquisition of Thmanyah is part of the Group’s new digital-first, multi-platform approach and commitment to delivering original, unique and exclusive content to consumers through new digital and social platforms.
SRMG will leverage its global network and reach to support Thmanyah’s growth ambitions into new genres and geographies, while benefiting from Thmanyah’s creative and production capabilities to enhance brand equity across its titles.
Founded in Saudi Arabia in 2016, Thmanyah is a leading producer of Arabic podcasts and documentaries. Its many highly rated podcasts include “Fnjan”, an Arabic talk show with more than 1.6 million average monthly listeners, as well as “Swalif Business”, “Socrates”, and “Things That Changed Us”.
Its podcasts and documentaries have been recognised with seven awards across the Mena region, including two consecutive awards from the Saudi Ministry of Media. On “Socrates,” Thmanyah has documented three years of progress on Vision 2030 objectives, featuring more than 50 leaders from the Saudi public sphere.
Thmanyah is also a leading documentary producer in Saudi Arabia, with more than 90 documentaries and short films with more than 15 million viewers. The documentaries cover a broad range of topics including popular videos on Malcolm X, Edward Said, and the kidnapping of a Saudi consul in Iran.
Jomana Al-Rashid, CEO of SRMG, said: “By acquiring one of the leading Arabic podcast platforms and documentary producers, we are reinforcing our commitment to providing our audiences with original, exclusive and premium content through new digital platforms. The global podcast market is expected to grow in value to around $3.9 billion in the next two years, enabling forward-thinking and creative platforms to capture new audiences and capitalise on monetisation opportunities, such as advertising revenues.”
“With its award-winning podcasts and documentaries, Thmanyah presents an exciting opportunity for us to explore new ideas and openings in this space. We look forward to welcoming the Thmanyah team on board and working with them to help grow the business into new genres and geographies.”
Abdulrahman Abumalih, CEO of Thmanyah, said: “We are delighted to be joining SRMG, a leading source of news, information and lifestyle content for people in the Mena region and around the world. In the five years since Thmanyah was founded, we have grown steadily with a clear focus on delivering quality content to the region’s expanding digital audiences through our podcasts and documentaries.”
“We will continue growing and will use this investment to create more content and tap into new audiences. I look forward to working with SRMG to produce an even stronger platform that combines our strengths and SRMG’s wide reach to benefit our listeners, viewers and advertisers.”
SRMG’s new strategy focuses on expanding its current portfolio, digital offerings and global reach, unlocking international commercial opportunities in fast-growing regional markets and worldwide. It is worth noting that SRMG owns more than 30 major media outlets including Asharq Al-Awsat, Arab News, and Asharq Business with Bloomberg, and has a combined monthly reach of 165 million.