Argaam-Parent SRMG Acquires 51% Share in Arabic Podcast Platform Thmanyah For ~$9 Million

Saudi Research & Media Group, a public corporation that is behind prime media brands comprising Argaam, Ashraq Al-Awat, Arab news, and Ashraq News, has obtained a 51% share in the Arabic podcast platform Thmanyah, it declared today.

Thmanyah generates podcasts and documentaries in Arabic with more than 2.2 million people hearing to its shows every month. Its prime talk show Fnjan allures 1.6 million monthly listeners on average. The forum is also behind Socrates, Swalif Business, and Things That Changes Us. The start-up has also generated 90 documentaries and short movies to date, which have been seen by more than 15 million viewers.

As SRMG is recorded on Tadawul, they shared the funding information of the transaction in their stock dealings filing. To get 51% of Thmanyah, the Saudi media corporation is making a payment of SAR 33.3 million or around $9 million, which provides the podcasting startup a worth of $17.4 million. The transaction comprises buy cost and capital that SRMG would infiltrate in the development of the startup, said that filing, without sharing the research.

Thmanyah, as per the publicly obtainable data grew its earnings by 75% in 2020 to $1.17 million. Its net assets, although, for the same tenure dropped by 30% to $310,000.

The investment is a portion of is SRMG’s new digital-first, multi-podium approach, and dedication to giving right, new and complete content to customers via new social and digital podiums, noted the record, adding that the corporation would utilize its international network and access to assist Thmanyah’s development ambitions into new categories and geographies.

Jomana Al-Rashid, SRMG CEO stated, “By getting one of the prime Arabic podcast podium and documentary producers, we are reinforcing our dedication to giving our audiences with original, complete, and premium content via new digital forums. The international podcast market is required to develop in use to about $3.9 million in the next two years, making capable forward-thinking and innovative forum to capture new audiences and capitalize on financial possibilities, like advertising earnings.”

“With its award-winning documentaries and podcasts, Thmanyah shows a stimulating chance for us to study new concepts and openings in this sector. We look ahead to welcoming the Thmanyah team on board and acting with them to assist develop the business into new categories and geographies,” she said.

Abdulrahman Abumalih, the founder and CEO of Thmanyah, stated, “We are pleased to be combining with SRMG, a prime resource of news, details, and lifestyle content for people in the MENA region and across the globe. In the 5-years since Thmanyah was formed, we have developed rapidly with a clear concentration on giving quality content to the extending digital audiences of the region visa our documentaries and podcasts. We would constantly develop and would utilize this investment to form new content and reach new audiences.”

Also Read: Aleph Holding Acquires Middle Eastern Digital Advertising Company Connect Ads

Copyright Disclaimer

The views published in this article are those of the author and have been written through research and this article is subject to copyright laws. Any copying, reproducing, or publishing any matter subject to this article without the consent of the original author would be liable to persecution under the laws of the land.

Stay Updated
Loading

Leave a Reply

Your email address will not be published.