Saudi Research and Media Group (SRMG) announced a new transformation strategy focusing on platform development and expansion, along with international partnerships and strategic investments, across five key business pillars, according to a bourse filing.
SRMG plans to further expand its current portfolio, digital offerings and global reach by transforming print publications into digital-first platforms, focusing on investing in media start-ups with bold ideas and building long-term mutually beneficial partnerships and collaborations with global brands.
Under the leadership of its newly appointed team, SRMG said it is focused on delivering original, exclusive and premium content to consumers through new digital and social platforms.
The company also aims to strengthen its cable and satellite reach.
The group seeks to leverage its data and technology capabilities to develop new products and services, enhance its monetization capabilities and diversify its revenue streams, the statement said.
SRMG plans to work across five business pillars to unlock new regional and international commercial opportunities, as follows:
SRMG Media: Digital Platforms, Podcasts and Multimedia
This includes digitizing and expanding content creation and distribution to engage audiences with original, unique and exclusive content.
SRMG International: International Investments and Partnerships
It aims to build a global network through bespoke partnerships and strategic investments, driven by a team of media professionals with global experience.
SRMG Think: Research and Polling
It seeks to provide insights backed by facts, data and expert analysis from the Middle East and around the world.
SRMG X: Events, Conferences and Exhibitions
This aims to deliver events that provide opportunities for personal connection and engagement in the digital world.
SRMG Labs: Innovation, Incubation, and Training
The aim is to foster talent and technology, and drive creativity and innovation in the regional media space, while helping train the next generation of media professionals, journalists and content creators.
SRMG’s new growth strategy is supported by a refreshed brand after it has obtained approval from the Saudi Authority for Intellectual Property, in addition to launching a new website.
The company is uniquely positioned to access growing media markets worldwide, the statement noted.
SRMG will announce any fundamental developments regarding the implementation of its new strategy, as per rules and regulations.