SRMG unit signs media services deal with Thmanyah

Logo of Saudi Research and Marketing Group (SRMG)

Saudi Research and Media Group (SRMG) said its unit, SRMG Media Solutions (SMS), signed a framework agreement with Thmanyah Publishing and Distribution to provide media and advertising representation services.

In a Tadawul filing, SRMG said the agreement is valid for one year and renewable by mutual consent. It does not specify a fixed value, as SMS will earn commissions based on agreed percentages and mechanisms. The contract value is expected to exceed 1% of SRMG's revenue, based on its latest audited annual financial statements.

Under the agreement, SMS will market and sell advertising inventory, attract advertisers, and manage related commercial relationships for Thmanyah in exchange for commissions calculated under agreed terms.

SRMG said the agreement was concluded on commercial terms in the ordinary course of business without any preferential conditions.

Thmanyah is a related party as it is a subsidiary of Arab Media Co., which is wholly owned by SRMG. Jomana Alrashid, SRMG's CEO and a board member, also serves as Chairperson of Thmanyah but has no direct interest in the transaction.

The agreement is not expected to have a material impact on SRMG consolidated financial statements at this stage. Any financial impact will depend on the volume of business executed during the agreement period.

The company said the agreement supports both parties' strategy to strengthen their presence in the advertising market, expand their client base, increase sales and marketing efficiency, maximize the value of advertising inventory, and drive sustainable revenue growth through a strategic partnership.