Latest news with #MikeSneesby
Argaam
12-08-2025
- Business
- Argaam
MBC Group maintains strong operational momentum, improved profitability across segments: CEO
Mike Sneesby, CEO of MBC Group, affirmed that the Group continues to maintain strong operational momentum and improved profitability, while sustaining investments in high-quality content to drive growth and expand audience engagement. In an interview with Argaam, Sneesby noted that the SHAHID platform managed to narrow its losses during Q2 2025 compared to the same period of 2024, thanks to the content and engagement strategies it has implemented. He expects the Group to deliver strong performance in H2 2025, driven by a focus on providing unique and distinguished content. Here are details of the interview: Q: MBC GROUP double digit revenue growth, an increase of 37.8% Year-on-Year (YoY) to SAR 3,031.8 million. What is your comment on these results? A: We are very pleased with the performance in the first half of 2025, with significant growth across all our business segments – Broadcasting and Other Commercial Activities (BOCA), SHAHID and Media &Entertainment (M&E) initiatives. BOCA remained the Group's primary earnings driver, supported by continued strength in broadcast and technical services. SHAHID also continued to deliver strong top and bottom-line momentum, driven by a consistent focus on profitable growth and ongoing investment in premium content to support both revenue expansion and platform engagement. Our third business segment – M&E also continued to deliver strong growth in H1 2025, with very solid revenues and net profit for the period, as it continues to deliver on key project milestones. Looking at Q2 2025 specifically, the Group's revenues were up 2.5% YoY and Q2 2025 net profit stood at SAR 71.9 million, compared to SAR 116.5 million in Q2 2024, mainly reflecting the timing of Ramadan-related advertising and subscriptions revenues skewing more into the first quarter this year. Overall, we are in a strong position, maintaining solid operational momentum and improved profitability across segments. Our strategic and capital allocation decisions continue to prove effective, as we invest in quality content and engaging platforms to drive long-term growth and deepen audience engagement. Q: Could you elaborate on the performance of the broadcasting & other commercial activities (BOCA) and their impact on the overall financial results? A: Our broadcasting & other commercial activities (BOCA) segment remains the Group's largest contributor and a key growth driver. TV revenues, which include advertising revenues, grew 13.3% year-on-year to SAR 863.4 million. Our advertising performance continues to benefit from our geographically diversified footprint, helping to offset the impact of geopolitical volatility. The broadcasting & technical revenues segment remains a strategic revenue contributor, supported by a strong project pipeline and a solid track record of delivering high-impact work across the Kingdom, registering a revenue increase of 52.7% to SAR 740 million. We are also embedding AI into core workflows — from subtitling and dubbing to content moderation, scheduling, and operational efficiency — aligning programming more closely with viewer preferences and commercial goals. Q: How do you evaluate the SHAHID performance in H1 2025? What are the drivers of this growth and your outlook for the growth of SHAHID in the coming period? A: SHAHID has been on a solid growth journey. Revenues grew significantly, and we recorded a solid net profit of SAR 2.7 million vs SAR 23.2 million net loss for the same period last year. SHAHID also narrowed its losses in Q2 2025 versus Q2 2024, a testament to the strength of the platform's ongoing content and engagement strategies. The first half of the year was strong. We saw a very successful Ramadan season, and the positive momentum continued into Q2 — helping to soften the usual post-Ramadan seasonality. This performance was driven by a combination of strong subscription video-on-demand (SVOD) and advertising-video-on-demand (AVOD) growth, which saw a revenue increase of 24.4% and 24.7% respectively. AVOD growth is supported by innovative ad formats and improved fill rates during Ramadan peak, while SVOD was driven by a clear content strategy and the continued expansion of our partnerships segment. We had also implemented password-sharing policy, limiting account usage to a single IP address unless upgraded to a premium tier, which was implemented in Q1 2025 and continued to benefit our SVOD revenues. We remain focused on growing SHAHID within the MENA streaming landscape. Our solid content strategy and diversified year-round offering position us strongly for continued growth across both SVOD and AVOD, with ample opportunities to expand reach and monetization. While the conclusion of SPL rights in August 2025 will represent a shift in our sports content mix, we remain confident in the platform's growth trajectory. The Group continues to focus on great opportunities to invest in sports, and broader sports, premium content and partnerships that allow us to deliver that. The platform will also prioritize expanding its reach by targeting untapped demographics and enhancing the user experience through technology, AI, and data-driven insights — boosting both engagement and revenue. Q: How does MBC GROUP's content strategy, including premium originals and international adaptations, influence viewer engagement and revenue growth? Do you expect this will continue in the short term? A: Content remains a key performance driver across both SHAHID and linear platforms in H1 2025. We are committed to producing world-class local content through high-quality, culturally authentic storytelling that spans drama, entertainment, and sports. H1 2025 saw a focus on regional content, especially during the Holy Month of Ramadan. Titles included Share' Al A'sha, a social drama series set in the Kingdom and Yawmiyat Rajul Anis, a comedy series, which were great successes. The second quarter saw the launch of three significant titles – Ommi, the Saudi-Turkish adaptation, Aser, a compelling pan-Arab drama thriller, and Nadeena football show. As of the end of Q2 2025, our content pipeline consisted of over 150 projects, with more than 90% of them scheduled 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. We also recently completed Top Chef Season 9 at Al Narjis, showcasing Al Narjis Studios strong capability and readiness to support large-format productions. Our Al Narjis studios, is a significant project, enabling us to build long-term technical capability in-Kingdom, create cost efficiencies, and making it home of content production, broadcasting, and content creation, supporting the broader Vision 2030-aligned production strategy. Looking ahead, we have nine additional projects scheduled for production at Al Narjis under MBC Studios. Q: Do you expect the strong performance to be sustained in the remainder of 2025 and beyond? What are MBC Group's key priorities for H2 2025 to maintain growth and profitability? A: We expect strong performance in the second half, driven by our continued focus on premium, differentiated content. Our strategy remains centred on growing our core segments — broadcast, streaming, content, and media services — while embracing innovation and pursuing aligned partnerships.
Broadcast Pro
11-08-2025
- Business
- Broadcast Pro
MBC Group posts 37.8% revenue surge in H1 2025
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.'
Broadcast Pro
08-08-2025
- Business
- Broadcast Pro
MBC Group CEO obatins premium residency in Saudi Arabia
Mike Sneesby most recently served as CEO of Nine Entertainment (2021–2024) in Australia. Mike Sneesby, CEO of MBC Group, has been awarded premium residency in Saudi Arabia. Announcing the news on X, Sneesby expressed 'immense pride' at receiving the status in a country he has 'come to love' and chosen as his home since relocating from Australia. He said: 'I feel immense pride in obtaining the Premium Residency in this country I have come to love, and have chosen to make my home since moving from Australia. Today, I consider myself an integral part of this beloved nation, where I have the privilege of serving as CEO of the largest media group in the Middle East and North Africa – MBC Group. I deeply cherish this recognition, which I regard as a great and lasting honour.' Sneesby assumed leadership of the Saudi media giant earlier this year, following his tenure as CEO of Nine Entertainment in Australia (2021–2024) in Australia. He also founded Stan (2013–2021), which he built into one of the most successful streaming platforms. Saudi Arabia introduced the premium residency programme in 2019, offering qualified foreign nationals the ability to live in the Kingdom with benefits that include exemption from expat and dependent fees, visa-free international travel, and the right to own property and operate businesses without a local sponsor.
Arab News
07-08-2025
- Business
- Arab News
MBC CEO granted Saudi premium residency
RIYADH: The CEO of Riyadh-headquartered broadcaster MBC Group Mike Sneesby has been granted premium residency in Saudi Arabia. Sneesby said in a post on X that he feels 'immense pride in obtaining the premium residency in this country I have come to love, and have chosen to make my home since moving from Australia.' The executive took the helm at the Saudi media group earlier this year after serving as CEO of Nine Entertainment. The premium residency was launched in 2019 and allows eligible foreigners to live in the Kingdom and receive benefits such as exemption from paying expat and dependents fees, visa-free international travel, and the right to own real estate and run a business without requiring a sponsor.
Zawya
12-05-2025
- Business
- Zawya
Saudi: MBC Group achieves $70.26mln profits amid solid revenue growth in Q1-25
Riyadh - MBC Group generated 117.27% year-on-year (YoY) higher net profits at SAR 263.51 million in the first quarter (Q1) of 2025, compared to SAR 121.28 million. Earnings per share (EPS) increased to SAR 0.70 in Q1-25 from SAR 0.33 in Q1-24, according to the financial results. The revenues amounted to SAR 2.04 billion as of 31 March 2025, an annual leap of 65.39% from SAR 1.23 billion. Quarterly, the Q1-25 net profits climbed by 50.05% from SAR 175.61 million in Q4-24, while the revenues soared by 64.86% from SAR 1.23 billion. Mike Sneesby, CEO of MBC Group, commented: "Our first quarter results underscore MBC Group's market leadership, with solid revenue growth and robust profitability driven by peaks in viewership and advertising during Ramadan.' Sneesby added: 'Looking ahead, we will continue to invest in long-term business growth and sustainable profitability, prioritizing premium content that resonates with our audiences, and harnessing AI to streamline operations and enhance personalization, all while maintaining clear, disciplined engagement with our investors.' As of 31 December 2024, the net profits of MBC Group jumped by 2,327% YoY to SAR 426.13 million. Source: Mubasher
