MBC Group posts 37.8% revenue surge in H1 2025

Broadcast Pro

7 days ago

Shahid saw revenues climb 25% in the first half to $185.79m, with SVOD revenues up 24.4% to $144.06m, boosted by a targeted content strategy and a new password-sharing policy.
MBC Group has reported strong financial results for the first half of 2025, with revenues rising 37.8% year-on-year to SAR 3 ($0.80bn), supported by robust performance across all business segments. Net profit reached SAR 335.4m ($89.43m), up 41.1% from the same period last year, with the net profit margin expanding to 11.1%.
Quarterly results showed revenues of SAR 987.9m ($987.9m) in Q2 2025, up 2.5% year-on-year, although net profit declined 38.3% due to the timing of Ramadan, which in 2025 fell entirely in Q1, compared with last year when its first 10 days boosted Q2 advertising revenues. Weaker market sentiment amid geopolitical volatility also weighed on advertiser spending.
Mike Sneesby, Chief Executive Officer of MBC Group, said: 'Our first-half results demonstrate the strength and resilience of MBC Group's diversified business model. We delivered solid revenue growth across our core segments, supported by premium content, digital scale, and disciplined execution. Our advertising performance continues to benefit from the Group's geographically diversified footprint which has helped us to mitigate the impact of geopolitical volatility. Our Broadcast & Technical Services segment also remains a strategic revenue contributor, underpinned by a healthy pipeline and a strong track record of delivering on high-impact projects across the Kingdom. Meanwhile, Shahid continues to deliver strong top and bottom-line momentum, supported by a clear content strategy and sustained growth across SVOD and AVOD with growing platform engagement.'
The BOCA segment continued to anchor Group performance in H1 2025, with revenues rising 29.6% year-on-year to SAR 1,737.8m ($463.35m), and net profit advancing 23.7% to SAR 314.1m ($83.75m). Growth during the period was broad-based across advertising, content distribution and large-scale media services. TV revenues rose 13.3% year-on-year to SAR 863.4m ($230.21m), reflecting continued advertiser demand across MBC's free-to-air platforms. Broadcast & Technical Services revenues climbed 52.7% to SAR 740 ($197.31m), supported by major projects with key government and institutional clients, including high profile projects that returned with expanded scope, reflecting MBC's strong execution capabilities and high quality of delivery. In Q2 2025, BOCA recorded revenues of SAR 532.4m ($141.95m) compared to SAR 565.7m ($150.83m) in Q2 2024. The 5.9% year-on-year decline reflects the timing of Ramadan, which fell entirely in Q1 2025 versus spanning into 2Q the previous year, impacting peak seasonal advertising revenues.
Shahid, MBC Group's high-growth OTT platform, recorded a 25.0% year-on-year increase in revenues in H1 2025, reaching SAR 696.8m ($185.79m) compared to SAR 557.3m ($148.59m) in H1 2024. SVOD revenues grew 24.4% to SAR 540.3m ($144.06m), supported by a clear content strategy and the newly implemented password-sharing policy, which limits account usage to a single IP address unless upgraded to a premium tier. AVOD revenues also delivered solid growth in H1, particularly during the Ramadan peak in Q1, while other revenues increased by 66.1% to SAR 11.9m ($3.17m), reflecting new monetisation streams. Shahid reported a net profit of SAR 2.7m ($0.72m) for the period, reversing a net loss of SAR 23.2m in the first half of 2024. This profit was primarily driven by seasonal strength in Q1, and full-year breakeven is still targeted for 2027. In Q2 2025, Shahid generated revenues of SAR 305.4m, up 17.9% YoY. SVOD continued to lead growth, while AVOD performance moderated due to the absence of Ramadan advertising in the current quarter versus the prior year. The platform reported a narrowed net loss of SAR 10.6m in Q2, down from SAR 16.7m in Q2 2024, supported by operational efficiencies and a stronger subscription base.
The Media & Entertainment Initiatives (M&E) segment continued to deliver strong growth in H1 2025, with revenues almost doubling year-on-year to SAR 597.2m, compared to SAR 301.8m in the same period last year, while net profit nearly tripled to SAR 18.6m, up from SAR 6.9m in H1 2024. The segment's performance reflects the continued delivery of major initiatives and growing management-fee income from commercially structured programming. In Q2 2025, M&E revenues reached SAR 150.1m, up 7.9% year-on-year, while net profit for the quarter increased by 39.8% to SAR 6.6m, with a one percentage point expansion in net profit margin to 4.4%.
Content remained a key performance driver across both Shahid and linear platforms in H1 2025. Ommi, the Saudi-Turkish adaptation drama following the success of Khareef Al Qalb, captivated audiences across platforms, securing the number one spot on MBC and driving strong viewer engagement. Similarly, Aser, a compelling pan-Arab drama thriller, continued to build momentum, leading its time slot on MBC1 and emerging as a standout success across both broadcast and streaming platforms, with growing regional appeal week after week. Share' Al A'sha, a social drama series set in KSA which aired during Ramadan, also solidified its status as one of the most celebrated Saudi productions of the year. The series earned nine major awards at the Al Dana Drama Awards 2025, including Best Story and Best Picture. In the comedy genre, Yawmiyyat Rajol Anis stood out as a Ramadan highlight, delivering strong viewership in Saudi Arabia and earning Best Comedy Series at the 2025 Al Dana Drama Awards, further reinforcing MBC's leadership in Arabic comedic storytelling.
As of the end of 2Q 2025, MBC's content pipeline consisted of over 150 projects, with more than 90% of them slated for production in Saudi Arabia. This reflects MBC Group's deepening commitment to supporting the Kingdom's creative economy through local production and talent development.
Sneesby added: 'As we continue to expand our footprint across the region, our strategic focus remains unchanged: invest in scalable, high-impact content, grow our digital platforms, and lead the evolution of Arab media. We have best-in-class capabilities across production, broadcasting, and streaming, and we will continue to apply commercial discipline in evaluating opportunities, pursuing only those that align with our long-term strategic objectives and return thresholds.'