SRMG Acquires 51 percent stake in Arab’s leading podcast platform Thmanyah | MENA startups, innovation, and tech news

Blog

SRMG Acquires 51 percent stake in Arab’s leading podcast platform Thmanyah
News

SRMG Acquires 51 percent stake in Arab’s leading podcast platform Thmanyah

Saudi Research & Media Group (SRMG), the parent company behind major media outlets, including Argaam, Asharq Al-Awsat, Asharq News, and Arab News, has acquired a 51 percent stake in Thmanyah, a leading Arabic podcast platform and documentary producer across the MENA region.

business akhbar

About Thmanyah

Founded in 2016, Thmanyah offers Arabic podcasts and documentaries and has more than 2.2 million people listening to its shows every month. The leading talk show of the platform, Fnjan, garners nearly 1.6 million listeners every month. Other highly rated podcasts include Socrates, Things That Changed Us, and Swalif Business. Thmanyah has also produced 90 documentaries and short films that have attracted over 15 million viewers. Thmanyah publishes on a broad range of platforms, across all its verticals, includingApple Podcasts, Google Podcasts, Spotify,YouTube,and its own website.

business akhbar

The Deal

The Saudi media company is paying SAR 33.3 million or about $9 million to acquire 51 percent of Thmanyah, giving the podcasting platform a valuation of $17.4 million. The transaction includes purchase value and the capital that SRMG will infuse in the growth of the startup. Since SRMG is listed on Tadawul, the financial details of the transaction have been shared in their stock exchange filing.

business akhbar

Supporting Each Other

With this acquisition, SRMG is reinforcing its commitment to provide exclusive, original, and premium content to its audiences through new digital and social platforms. The public company intends to use its global network and reach to help Thmanyah expand into new genres and geographies while making the most of Thmanyah’s creative and production capabilities to strengthen brand equity across its titles. The Saudi-listed firm is currently strategizing to expand its current portfolio, global reach, digital offerings, and providing commercial opportunities in fast-growing local markets and around the globe. SRMG owns over 30 leading media brands with a combined monthly reach of 165 million.

In the next two years, the global podcast market is expected to reach $3.9 billion, offering creative and forward-thinking platforms to attract new customers and cash in on monetization opportunities, such as advertising revenues. The founder and CEO of Thmanyah, Abdulrahman Abumalih, is delighted to join SRMG and aims to use this investment to keep growing and creating more content for its customers.

Related posts

Leave a Reply

Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.