Saudi Research and Media Group (SRMG), which owns more than 30 major media outlets including Asharq Al-Awsat, Asharq News, and Arab News has announced the acquisition of a 51 percent controlling stake in Arabic podcast platform Thmanyah.
Thmanyah is one of the leading podcast platforms and documentary producers in the Middle East and North Africa (MENA) region and its acquisition by SRMG 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 the podcast platform’s creative and production capabilities to enhance brand equity across its titles.
Founded in Saudi Arabia in 2016, Thmanyah has produced many highly rated podcasts including “Fnjan,” an Arabic talk show with a monthly average of more than 1.6 million listeners, as well as “Swalif Business,” “Socrates,” and “Things That Changed Us.”
Through its podcast “Socrates,” Thmanyah has documented three years of progress on Saudi Vision 2030 objectives, featuring more than 50 leaders from the Kingdom’s public sphere.
Its podcasts and documentaries have received widespread recognition with seven awards in the MENA region, including two consecutive accolades from the Saudi Ministry of Media.
Thmanyah is also a leading documentary producer in Saudi Arabia, with more than 90 documentaries and short films and in excess of 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 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 capitalize on monetization 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,” she added.
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 around the world.