StarzPlay eyes 2023 IPO as Saudi business surges 40% during pandemic

Maaz Sheikh, founder and CEO of StarzPlay. (Supplied)
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Updated 04 February 2021
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StarzPlay eyes 2023 IPO as Saudi business surges 40% during pandemic

  • Video streaming service plans to use its latest $25m in funding to finance more Arabic content

RIYADH: StarzPlay, the Middle East’s fastest-growing entertainment streaming channel, is eyeing an initial public offering (IPO) by 2023 amid plans to double its business.

The main rival to American content platform streaming service Netflix in the Middle East, StarzPlay saw its business soar during the coronavirus disease (COVID-19) pandemic, as lockdowns, social distancing and travel restrictions left users with little to do apart from slump in front of a TV and binge-watch their favorite shows.

In an interview with Arab News, Maaz Sheikh, founder and CEO of StarzPlay, said Saudi Arabia was the platform’s fastest-growing market.

“Our subscriptions in the Kingdom have increased 40 percent in 2020 as against 2019,” he said, adding that Saudi Arabia and the UAE combined accounted for 75 percent of StarzPlay’s total revenue. “We don’t expect that to change; we expect it to continue to grow,” he said.

“In Saudi Arabia, we believe we are in the very early days of adoption of the service, and we are just scratching the surface. We believe the next five years are going to be even stronger. We have a lot more opportunity in the Kingdom,” the CEO said.

The company is aiming to double its revenue and subscribers within the next few years. To fund its ambitious plans, this week it announced its first independent debt financing in the region, amounting to $25 million, from Abu Dhabi-based alternative investment firm Ruya Partners.

The funds will be used to strengthening the company’s geographic and customer reach, acquire and produce original content and maximize long-term value for its stakeholders.

This investment marks the first time that StarzPlay has attracted debt financing from a regional investor. Launched in 2015, it previously raised $125 million from global industry investors, including American cable company STARZ and Boston-based investment management firm State Street Global Advisors.

Sheikh said some of the funding will be used to invest in producing more Arabic content. “Although we carry about 2,500 hours of Arabic content today, going forward we plan to double the volume of the content in the Kingdom, the UAE and Bahrain,” he said.

The company is aiming to partner with Saudi producers, such as Jeddah-based AlSadaf Company for TV Series Production, YouTube multichannel network Merakatt and many more across Bahrain and the UAE.

StarzPlay said its market share of the video-on-demand subscription services sector in the Middle East is around 33 percent. While the number of Saudi subscribers has increased, users in the Kingdom are also some of their biggest TV watchers, binging an average of 51 minutes per day, compared to an average of 38 minutes across its entire platform.

Looking to the future, Sheikh said StarzPlay is aiming to grow by 30 percent in 2021, and he has ambitions to launch a stock market listing within the next few years. “The current projections for us are two to three years away. By then, we believe we will be well-financed and well-capitalized.”

Currently, StarzPlay reaches over 1.8 million paying subscribers and is installed on more than six million devices. Accounting for a market share of more than 32 percent, the platform recorded exceptional growth in 2020, with independent research showing a growth of 141 percent in the number of unique users last year, the company said in a statement on Wednesday.


Conde Nast reshapes Arab fashion media with Vogue Arabia and GQ Middle East takeover

Updated 5 min 11 sec ago
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Conde Nast reshapes Arab fashion media with Vogue Arabia and GQ Middle East takeover

  • Manuel Arnaut and Amine Jreissati will lead Vogue and GQ respectively

LONDON: Vogue Arabia and GQ Middle East have officially joined Conde Nast’s portfolio of owned operations in Dubai, the media conglomerate announced on Thursday.

The move marks a significant reshuffle in the Arab fashion media landscape, as Conde Nast takes over the licenses from previous publishers Nervora, which launched Vogue Arabia in 2016, and ITP Media, which introduced GQ Middle East in 2018.

As part of the transition, Lebanese fashion designer Amine Jreissati has been appointed head of editorial content for GQ Middle East. Portuguese journalist Manuel Arnaut, who faced criticism for his 2017 appointment to Vogue Arabia due to limited regional experience, will continue to lead the title under the new structure.

“We are fortunate that Manuel and Amine, two incredibly gifted and creative editors, will be leading our titles,” said Anna Wintour, Conde Nast’s chief content officer.

“Their taste, judgment and journalistic experience are a huge benefit and the way they have elevated the contributions of artists and designers in the Middle East to the global stage has been tremendous.”

The acquisition brings Vogue Arabia and GQ Middle East into the same portfolio as Architectural Digest Middle East and Conde Nast Traveller Middle East, both of which became fully owned and operated by Conde Nast in 2023.

Thomas Khoury, Conde Nast’s managing director for the Middle East, oversaw the transition of the two titles, further cementing the company’s commitment to the region’s growing influence in global fashion and media.


Al-Attiyah and Van Beveren stripped of Dakar Rally stage wins

Updated 17 min 24 sec ago
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Al-Attiyah and Van Beveren stripped of Dakar Rally stage wins

  • American driver Seth Quintero was promoted to first for the second time in a week, beating Al-Attiyah by one second
  • French rider Adrien van Beveren also had the motorbike stage win taken from him after he was penalized two minutes for speeding in the Saudi Arabia desert

HA’IL: Five-time champion Nasser Al-Attiyah was stripped of a smashing stage win in the Dakar Rally because of a missing spare wheel on Thursday.
Instead, American driver Seth Quintero was promoted to first for the second time in a week, beating Al-Attiyah by one second.
French rider Adrien van Beveren also had the motorbike stage win taken from him after he was penalized two minutes for speeding in the Saudi Arabia desert. Instead, Luciano Benavides of Argentina was given first place by 47 seconds from Van Beveren.
Al-Attiyah initially won the fifth stage from AlUla 428 speedy kilometers east to rocky Ha’il after 4 1/2 hours by a whopping 9 minutes, 59 seconds. But the missing spare wheel cost him a 10-minute penalty, dropping the Qatari to second and bumping Quintero to first.
Quintero also was promoted to first on the first stage on Saturday after he was credited time for helping a crashed rival.
The 22-year-old Quintero, who suffered three punctures on Wednesday, was barely helped in the overall standings as he was 1 1/2 hours behind Toyota teammate and race leader Henk Lategan.
But the penalty was a double blow for Al-Attiyah, who made up only 53 seconds on Lategan and was 35 minutes behind the South African leader going into the rest day Friday.
Lategan was fourth on the stage, stretching his overall lead on second-placed Yazeed Al Rajhi to 10 minutes and third-placed Mattias Ekstrom to 21 minutes. None of the leading three drivers have won the Dakar and only Al Rajhi has made the podium, a third in 2022.
“It was the hardest first week of my career on the Dakar,” Al Rajhi said amidst his 11th Dakar and sixth on home ground. “All the stages were long, tough and difficult everywhere.”
Benavides wins motorbike stage
Van Beveren led the motorbike stage for about the last 200 kilometers and thought he had his sixth career stage win, but his second speeding penalty of the race gave Benavides his fourth career stage win.
Benavides, a four-time top-10 finisher in the five Dakars he’s completed, beat Van Beveren by 47 seconds. Jose Ignacio Cornejo of Chile was third.
Benavides was seventh overall, 24 minutes behind his KTM teammate and race leader Daniel Sanders. But he suggested he was being hampered by team orders.
“I hope the strategy is going to be favorable to me in the second week,” Benavides said. “I’m happy with the bike and my pace. I feel better than I ever have. But, on this race, some decisions are made that call into question the strategic choices prepared several days before.”
The overall leaders didn’t change but Sanders’ gap on the shrinking field was cut after he was penalized eight minutes plus for speeding three times.
That reduced his overall lead to seven minutes over Spain’s Tosha Schareina and 18 minutes over Botswana’s Ross Branch. Van Beveren rose from sixth to fourth, another 30 seconds back.


Pakistani authorities report 70th polio case of 2024 from Karachi

Updated 30 min 41 sec ago
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Pakistani authorities report 70th polio case of 2024 from Karachi

  • Onset of polio case took place in December 2024, say Pakistani health authorities
  • Pakistan has reported 20 out of 70 poliovirus cases from southern Sindh province

KARACHI: Pakistani health authorities reported the country’s 70th poliovirus case of 2024 on Thursday, saying that its symptoms started becoming apparent in a child last month in the southern port city of Karachi, the polio eradication program said. 
Polio is a paralyzing disease with no cure. Multiple doses of the oral polio vaccine and completion of the routine vaccination schedule for all children under the age of five are essential to provide high immunity against the disease.
As per the program, the onset of this case was on Dec. 21, 2024 and the case was reported in the Karachi East district. With the latest case, the district has now reported two polio cases from 2024. 
“The Regional Reference Laboratory for Polio Eradication at the National Institute of Health has confirmed the detection of wild poliovirus type 1 (WPV1) in a male child from Karachi East,” the program said in a statement. 
As per the latest toll, out of the 70 poliovirus cases of 2024, 27 have been reported from Balochistan, 21 from Khyber Pakhtunkhwa, 20 from Sindh, and one each from Punjab and Islamabad.
The Pakistan Polio Program organizes several mass vaccination campaigns annually, delivering the vaccine directly to people’s doorsteps.
On Jan. 6, Pakistan concluded a week-long anti-polio drive in southwestern Balochistan.
The health ministry said the first nationwide polio campaign of this year is scheduled to take place from Feb. 3-9, urging the parents to ensure the safety of their children by welcoming the vaccinators.
Pakistan’s polio program began in 1994 but efforts to eradicate the virus have since been undermined by vaccine misinformation and opposition from some religious hard-liners, who say immunization is a foreign ploy to sterilize Muslim children or a cover for Western spies.
Militant groups also frequently attack and kill members of polio vaccination teams.
In the early 1990s, the country reported around 20,000 cases annually, but in 2018, the number dropped to eight cases. Six cases were reported in 2023 and only one in 2021.


Dakar Rally provides a platform for sharing Kingdom’s breathtaking beauty with the world

Updated 32 min 11 sec ago
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Dakar Rally provides a platform for sharing Kingdom’s breathtaking beauty with the world

  • Journalists, photographers, broadcasters are the storytellers to bring the experience to life, showcasing unique Saudi attractions
  • Dakar Rally Saudi Arabia 2025 is celebration of exploration, storytelling

RIYADH: This year’s Dakar Rally in Saudi Arabia is a stage for sharing the breathtaking beauty of the Kingdom with the world, in addition to it being a test of endurance for drivers.
Running until Jan. 17, the rally spans 7,737 km, including 5,129 km of timed special stages, and features 439 vehicles across multiple categories.
It takes participants through some of the Kingdom’s most stunning natural landscapes and archaeological treasures.
At the heart of the spectacle lies the media’s vital role in connecting global audiences to the rally’s excitement and adventure.
Journalists, photographers, and broadcasters are the storytellers who will bring the Dakar experience to life while showcasing unique Saudi beauty and culture.
This year’s rally has attracted 618 accredited journalists from 128 media outlets, representing 48 nationalities. Their collective efforts highlight the universal fascination with the Dakar Rally and its ability to transcend borders.
As the drivers push their limits across sand dunes, rugged mountains, and rocky trails, the media captures more than just the competition: They shine a light on the Kingdom’s vast, untouched landscapes and rich cultural heritage, offering viewers a window into Saudi Arabia’s diverse beauty.
From ancient archaeological wonders to sweeping desert vistas, the rally’s route becomes a showcase of the Kingdom’s allure.
Through articles, interviews, photos, and live broadcasts, journalists showcase narratives of human resilience and adventure.
Their work transcends the race itself, sharing stories of perseverance, teamwork, and cultural exchange with millions of followers globally.
The Dakar Rally Saudi Arabia 2025 is a celebration of exploration and storytelling.
Thanks to the dedication of the international media, the world gets to experience the beauty of the rally and the Kingdom, one story at a time.


New Arab Journalism Award board formed

Updated 38 min 21 sec ago
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New Arab Journalism Award board formed

  • Mona Ghanem Al-Marri will lead the board, Dr. Maitha Buhumaid to serve as secretary-general
  • Arab News Editor-in-Chief Faisal J. Abbas selected as member

DUBAI: Sheikh Mohammed bin Rashid Al-Maktoum, vice president and prime minister of the UAE and ruler of Dubai, on Thursday approved the newly restructured board of directors for the Arab Journalism Award. The board will be chaired by Mona Ghanem Al-Marri, vice president and managing director of the Dubai Media Council.

The revamped board includes prominent intellectuals, media leaders, and academics from across the Arab world, reflecting a commitment to fostering regional media excellence.

Al-Marri, a key figure in the UAE’s media landscape, is also president of the Dubai Press Club, making her one of the most influential voices in Arab media today.

Dr. Maitha Buhumaid, the Dubai Press Club’s current director, will serve as the award’s governing body’s secretary-general.

Also on the board is Ghassan Charbel, editor-in-chief of Asharq Al-Awsat; Ahmed Al-Muslimani, chairman of Egypt’s National Media Authority; Sultan Al-Nuaimi, author and director general of the Emirates Center for Strategic Studies and Research; and Arab News Editor-in-Chief Faisal J. Abbas.

The AJA is scheduled to be held in May, coinciding with the Arab Media Summit, the largest media thought leadership event in the Middle East, which will run from May 26-28 in Dubai.