In a significant move set to reshape the media and advertising landscape across the Middle East and North Africa (MENA), SRMG, the region's largest integrated media group, and Naif Alrajhi Investment, a leading Saudi investment firm with a strong track record in the media sector, have announced a major strategic partnership. The collaboration aims to drive innovation and growth throughout the media and advertising industries.
This partnership is built upon two key strategic pillars: firstly, expanding the Out-of-Home (OOH) advertising footprint by combining forces with Phi Advertising, and secondly, advancing innovative media and marketing solutions through a partnership with Veyron Marketing.
Central to the agreement is SRMG's newly launched entity, SRMG Media Solutions (SMS). Positioned as a next-generation, data-driven advertising unit, SMS represents an impressive portfolio of renowned media brands under the SRMG umbrella, including Asharq Al-Awsat, Asharq News, Asharq Business with Bloomberg, Arab News, Hia Magazine, and Thmanyah, integrated with Naif Alrajhi Investment’s diversified assets.
Phi Advertising, a key player in the Middle East's OOH sector known for its dynamic range of solutions from traditional billboards to cutting-edge digital displays, will significantly enhance its offering through this partnership. Phi's reach will be amplified by leveraging SMS's extensive cross-platform content distribution network spanning digital, social media, television, and print channels.
Simultaneously, Veyron Marketing, recognised as a leader in Saudi Arabia's advertising industry for its innovative marketing solutions and robust media planning and buying capabilities, will gain access to the dynamic offerings within SRMG Media Solutions. This includes innovative digital formats, branded content creation, and experiential advertising opportunities, providing enhanced value to clients across the region.
The partnership is driven by a shared vision among SRMG, Naif Alrajhi Investment, Phi Advertising, and Veyron Marketing to foster innovation, significantly expand digital capabilities, and unlock new commercial opportunities. It combines a deep understanding of the vital Saudi market with SRMG's extensive global reach, promising long-term value for advertisers.
Jomana R. Alrashid, CEO of SRMG, commented on the venture, stating, "This partnership is a convergence of vision, impact and capability. By uniting Phi’s comprehensive presence and Veyron’s operational expertise, combined with SRMG Media Solutions’ services and reach of over 170 million people, we are creating unparalleled value for advertisers."
