ABU DHABI, 10th April, 2025 (WAM) -- In a significant step towards fostering innovation in the media and advertising industry, Saudi Media Company (SMC), signed a Memorandum of Understanding (MoU) with Multiply Group PJSC (ADX: MULTIPLY), an Abu Dhabi-based investment holding company, to explore potential collaboration and mutual investment opportunities in the development of advanced advertising technology platforms. This aligns with Multiply Group's broader strategy to strengthen and expand its footprint in the media sector.
The agreement outlines a framework for collaboration in advancing advertising technology platforms, drive innovation in artificial intelligence-powered advertising solutions, enhance digital capabilities, and expand into high-growth markets in the MENA region.
This collaboration focuses on enhancing the advertising industry through strategic investments in research and development, aiming to identify expansion opportunities by investing in complementary sectors that support media and advertising.
Additionally, the partnership focuses on advancing advertising technology platforms, including programmatic advertising and data-driven ad sales, to optimize efficiency and effectiveness. It also seeks to drive growth in digital advertising across MENA while paving the way for global expansion into markets with strong potential.
This strategic alliance supports SMC's vision to reinforce its leadership in the industry by leveraging the latest digital technologies to deliver smarter, more efficient advertising solutions, aligning with Saudi Arabia's Vision 2030, which prioritizes digital transformation as a key driver of economic growth and industry advancement.
Commenting on the agreement, Mohammad Al-khereiji, Chairman of SMC, stated, "This partnership marks a strategic and transformative step in strengthening SMC's position as a global leader in media, advertising, and technology. The region is witnessing unprecedented investment and innovation, and through this collaboration with Multiply Group, we are committed to delivering pioneering AI-driven advertising solutions powered by the latest AI technologies. By investing in cutting-edge technology, we seek to enhance efficiency, create substantial value for our clients and partners, and drive economic growth across the region benefiting all stakeholders in the industry."
Samia Bouazza, Group CEO and Managing Director of Multiply Group, commented, "Multiply Group's partnership with Saudi Media Company positions us at the intersection of technology, data and cultural understanding. We have built strong consumer connections across various sectors, and we are now scaling that insight regionally through transformative AdTech platforms. Together with SMC, our aim is to explore new models of multimedia monetisation - using data and technology aligned with audience behaviours across the MENA region."
This partnership represents a pivotal development in shaping a more advanced and data-driven digital advertising landscape. By integrating AI and programmatic technologies, the collaboration is set to revolutionise the industry, enabling both companies to drive innovation, introduce new business models, and achieve long-term, sustainable growth in the global media and advertising market.