NEOM AND SRMG AGREE PARTNERSHIP TO ENHANCE REGIONAL MEDIA ECOSYSTEM

• SRMG and NEOM have signed a Memorandum of Understanding to collaborate across a range of activities
• Key outcomes include increased content production in NEOM, media technology development and integration, and media training programmes
• The partnership will provide a significant boost to the regional media ecosystem

RIYADH, Kingdom of Saudi Arabia, 11 June 2023: SRMG, a global integrated media group, has signed a Memorandum of Understanding (MoU) with NEOM Media Industries, a developing regional center for media and creative industries in the heart of Saudi Arabia. The MoU, which outlines a range of focus areas, underlines a shared dedication to enhancing the media ecosystem in the region.

NEOM will leverage SRMG’s media expertise, extensive portfolio and established partnerships to increase content production in Saudi Arabia. This builds on the growing success of the sector in the Kingdom, as investment into infrastructure and upskilling of talent positions NEOM as a world-class production hub. SRMG’s existing and new partners will benefit from the collaboration between both brands, including access to world-class production facilities.

Beyond production, SRMG and NEOM Media Industries will work together to design joint talent development and industry training programs to continue to uplift the breadth and depth of the media talent pool within the region – including journalism, script writing and production. These programs will build on the successful collaboration between NEOM and SRMG Academy in November last year - the “Stories to Tell” journalism bootcamp – which trained and upskilled young Saudi journalism graduates and media professionals and resulted in 22 interns being hired by SRMG.

Nadhmi Al-Nasr, Chief Executive Officer of NEOM, said: “NEOM aims to be an accelerator of human progress – innovating across multiple industries and sectors to redefine business. NEOM Media Industries is one such example. Our mission is to create a new world-class media hub at NEOM, one that focuses on providing for screen production, gaming and digital publishing.  This partnership with SRMG complements and accelerates NEOM’s commitment to creating a regional center to establish NEOM amongst the elite global media hubs.”

Commenting on the signing, Jomana R. Al-Rashid, Chief Executive Officer of SRMG, added: “This partnership represents an important moment for the media ecosystem in the MENA region. Working together, NEOM and SRMG will increase capability and capacity of localized production; accelerate media technology; and create new revenue streams for the industry. Through empowering local content creators, we will ensure that home-grown talent is nurtured and that regional stories are told on a world stage. There is extraordinary untapped creativity in the MENA region, and we are delighted to have created this opportunity to champion it”

Additional aspects of the MoU include media technology development, co-organizing events at NEOM, and SRMG exploring establishing an early presence at NEOM in the long run.