RIYADH: Saudi Research & Media Group (SRMG) – which owns more than 30 major media outlets including Asharq Al-Awsat, Asharq News and Arab News, and has a combined monthly reach of 165 million – announced a new transformation strategy on Sunday focusing on platform expansion, international partnerships and strategic investments across five key business verticals.
SRMG, which is listed on the Tadawul stock exchange in Riyadh, will further expand its current portfolio, digital offerings and global reach by transforming print publications into digital-first platforms, introducing new platforms that address white spaces in the market, investing in media start-ups with bold ideas and building long-term mutually beneficial partnerships with internationally recognized brands. SRMG already has successful partnerships and collaborations with leading media organizations including Bloomberg and The Independent.
Driven by a newly appointed leadership team, SRMG is focused on delivering original, exclusive and premium content to consumers through new digital and social platforms, as well as strengthening its cable and satellite reach. The group will continuously look to leverage its data and technology capabilities to develop new products and services, enhance its monetization capabilities and diversify its revenue streams.
Building on its expanding network of outlets, SRMG will work across five business verticals to unlock new regional and international commercial opportunities:
1. SRMG Media: Digital Platforms, Podcasts and Multimedia
Digitizing and expanding content creation and distribution to engage audiences with original, unique and exclusive content
2. SRMG International: International Investments and Partnerships
Building a global network through bespoke partnerships and strategic investments, driven by a team of seasoned media professionals with global experience
3. SRMG Think: Research and Polling
Providing unique insights and expert analysis from the Middle East and around the world
4. SRMG X: Events, Conferences and Exhibitions
Delivering leading events that provide important opportunities for personal connection and engagement in a digital world
5. SRMG Labs: Innovation, Incubation, and Training
Fostering talent and technology, and driving creativity and innovation in the regional media space, while helping to train the next generation of media professionals, journalists and content creators
Abdulrahman Ibrahim Alrowaita, Chairman of SRMG, said: “For almost five decades, our titles like Asharq Al-Awsat, Arab News, Sayidaty and others have played a significant role in telling authentic and impactful stories from the Middle East and around the world. Now, driven by our new strategy, we will strengthen our unique and established position by expanding our global focus and reach and widening our regional footprint in a growing media sector.
“Through new platforms and international partnerships, we will empower global audiences with relevant and reliable news and information. We will remain committed to diversity and inclusivity in journalism and across our newsrooms, fostering talent and innovation by helping develop the next generation of media professionals, journalists and content creators.”
Jomana Al-Rashid, Chief Executive Officer of SRMG, said: “Our focus on premium content creation, introducing new platforms and expanding our reach through new titles and services ensures SRMG will be the primary driver of the region’s digital future in media. New platforms will allow our journalists to report news and deliver audience-centric content backed by data and driven by the latest technology, to reinforce SRMG’s position as the premier media house in the Middle East.
“Our new strategy is an exciting next chapter for a media house with a long legacy of growth and innovation. We look forward to enhancing our engagement with our audiences by continuing to provide relevant and diverse media content, while widening the services we offer and building on our leading media market position.”
SRMG’s new growth strategy is supported by a refreshed brand and new website that reflect the company’s fresh approach while upholding its rich, unique history. Leveraging its legacy, scale and new capabilities, SRMG is uniquely positioned to access growing media markets worldwide.