Media Fortune Fame & Folly

Saudi Research buys podcasts

Saudi Research & Media Group (SRMG), the listed company which owns more than 30 media outlets including Asharq Al-Awsat, Asharq News, and Arab News has announced a 51% share of the five-year-old Saudi-based podcast platform and documentary producer Thmanyah which operates throughout the MENA region (Middle East and North Africa).

SRMG’s own Arab News reported the company had increased profit in the first quarter to $21.4m – up by 41% on revenue increased by more than 20%: “The rollout of Saudi Vision 2030 reforms, a booming entertainment sector and the opening of the Kingdom to foreign tourists are all contributing to the rapidly expanding Saudi media landscape”.

Wikipedia says about SRMG: “Its closeness to the regime of Saudi Arabia has led it to be considered an organ of soft power for the regime in the West, particularly in the UK”.