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.


Trump won about 2.5M more votes this year than he did in 2020. This is where he did it

Updated 41 sec ago
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Trump won about 2.5M more votes this year than he did in 2020. This is where he did it

  • Trump’s team and outside groups supporting him knew from their data that he was making inroads with Black voters, particularly Black men younger than 50, more concentrated in these urban areas that have been key to Democratic victories

WASHINGTON: It’s a daunting reality for Democrats: Republican Donald Trump’s support has grown broadly since he last sought the presidency.
In his defeat of Democrat Kamala Harris, Trump won a bigger percentage of the vote in each one of the 50 states, and Washington, D.C., than he did four years ago. He won more actual votes than in 2020 in 40 states, according to an Associated Press analysis.
Certainly, Harris’ more than 7 million vote decline from President Joe Biden’s 2020 total was a factor in her loss, especially in swing-state metropolitan areas that have been the party’s winning electoral strongholds.
But, despite national turnout that was lower than in the high-enthusiasm 2020 election, Trump received 2.5 million more votes than he did four years ago. He swept the seven most competitive states to win a convincing Electoral College victory, becoming the first Republican nominee in 20 years to win a majority of the popular vote.
Trump cut into places where Harris needed to overperform to win a close election. Now Democrats are weighing how to regain traction ahead of the midterm elections in two years, when control of Congress will again be up for grabs and dozens of governors elected.
There were some notable pieces to how Trump’s victory came together:
Trump took a bite in Northern metros
Though Trump improved across the map, his gains were particularly noteworthy in urban counties home to the cities of Detroit, Milwaukee and Philadelphia, electoral engines that stalled for Harris in industrial swing states Michigan, Wisconsin and Pennsylvania.
Harris fell more than 50,000 votes — and 5 percentage points — short of Biden’s total in Wayne County, Michigan, which makes up the lion’s share of the Detroit metro area. She was almost 36,000 votes off Biden’s mark in Philadelphia County, Pennsylvania, and about 1,000 short in Milwaukee County, Wisconsin.
It wasn’t only Harris’ shortfall that helped Trump carry the states, a trio that Democrats had collectively carried in six of the seven previous elections before Nov. 5.
Trump added to his 2020 totals in all three metro counties, netting more than 24,000 votes in Wayne County, more than 11,000 in Philadelphia County and almost 4,000 in Milwaukee County.
It’s not yet possible to determine whether Harris fell short of Biden’s performance because Biden voters stayed home or switched their vote to Trump — or how some combination of the two produced the rightward drift evident in each of these states.
Harris advertised heavily and campaigned regularly in each, and made Milwaukee County her first stop as a candidate with a rally in July. These swings alone were not the difference in Michigan, Pennsylvania and Wisconsin, but her weaker performance than Biden across the three metros helped Trump, who held on to big 2020 margins in the three states’ broad rural areas and improved or held steady in populous suburbs.
Trump’s team and outside groups supporting him knew from their data that he was making inroads with Black voters, particularly Black men younger than 50, more concentrated in these urban areas that have been key to Democratic victories.
When James Blair, Trump’s political director, saw results coming in from Philadelphia on election night, he knew Trump had cut into the more predominantly Black precincts, a gain that would echo in Wayne and Milwaukee counties.
“The data made clear there was an opportunity there,” Blair said.
AP VoteCast, a nationwide survey of more than 120,000 voters, found Trump won a larger share of Black and Latino voters than he did in 2020, and most notably among men under age 45.
Democrats won Senate races in Michigan and Wisconsin but lost in Pennsylvania. In 2026, they will be defending governorships in all three states and a Senate seat in Michigan.
Trump gained more than Harris in battlegrounds
Despite the burst of enthusiasm Harris’ candidacy created among the Democratic base when she entered the race in July, she ended up receiving fewer votes than Biden in three of the seven states where she campaigned almost exclusively.
In Arizona, she received about 90,000 fewer votes than Biden. She received about 67,000 fewer in Michigan and 39,000 fewer in Pennsylvania.
In four others — Georgia, Nevada, North Carolina and Wisconsin — Harris won more votes than Biden did. But Trump’s support grew by more — in some states, significantly more.
That dynamic is glaring in Georgia, where Harris received almost 73,000 more votes than Biden did when he very narrowly carried the state. But Trump added more than 200,000 to his 2020 total, en route to winning Georgia by roughly 2 percentage points.
In Wisconsin, Trump’s team reacted to slippage it saw in GOP-leaning counties in suburban Milwaukee by targeting once-Democratic-leaning, working-class areas, where Trump made notable gains.
In the three largest suburban Milwaukee counties — Ozaukee, Washington and Waukesha — which have formed the backbone of GOP victories for decades, Harris performed better than Biden did in 2020. She also gained more votes than Trump gained over 2020, though he still won the counties.
That made Trump’s focus on Rock County, a blue-collar area in south central Wisconsin, critical. Trump received 3,084 more votes in Rock County, home of the former automotive manufacturing city of Janesville, than he did in 2020, while Harris underperformed Biden’s 2020 total by seven votes. That helped Trump offset Harris’ improvement in Milwaukee’s suburbs.
The focus speaks to the strength Trump has had and continued to grow with middle-income, non-college educated voters, the Trump campaign’s senior data analyst Tim Saler said.
“If you’re going to have to lean into working-class voters, they are particularly strong in Wisconsin,” Saler said. “We saw huge shifts from 2020 to 2024 in our favor.”
Trump boosted 2020 totals as Arizona turnout dipped
Of the seven most competitive states, Arizona saw the smallest increase in the number of votes cast in the presidential contest — slightly more than 4,000 votes, in a state with more than 3.3 million ballots cast.
That was despite nearly 30 campaign visits to Arizona by Trump, Harris and their running mates and more than $432 million spent on advertising by the campaigns and allied outside groups, according to the ad-monitoring firm AdImpact.
Arizona, alone of the seven swing states, saw Harris fall short of Biden across small, midsize and large counties. In the other six states, she was able to hold on in at least one of these categories.
Even more telling, it is also the only swing state where Trump improved his margin in every single county.
While turnout in Maricopa County, Arizona’s most populous as the home to Phoenix, dipped slightly from 2020 — by 14,199 votes, a tiny change in a county where more than 2 million people voted — Trump gained almost 56,000 more votes than four years ago.
Meanwhile, Harris fell more than 60,000 votes short of Biden’s total, contributing to a shift significant enough to swing the county and state to Trump, who lost Arizona by fewer than 11,000 votes in 2020.
Rightward shift even in heavily Democratic areas
The biggest leaps to the right weren’t taking place exclusively among Republican-leaning counties, but also among the most Democratic-leaning counties in the states. Michigan’s Wayne County swung 9 points toward Trump, tying the more Republican-leaning Antrim County for the largest movement in the state.
AP VoteCast found that voters were most likely to say the economy was the most important issue facing the country in 2024, followed by immigration. Trump supporters were more motivated by economic issues and immigration than Harris’, the survey showed.
“It’s still all about the economy,” said North Carolina Democratic strategist Morgan Jackson, a senior adviser to Democrat Josh Stein, who won North Carolina’s governorship on Nov. 5 as Trump also carried the state.
“Democrats have to embrace an economic message that actually works for real people and talk about it in the kind of terms that people get, rather than giving them a dissertation of economic policy,” he said.
Governor’s elections in 2026 give Democrats a chance to test their understanding and messaging on the issue, said Democratic pollster Margie Omero, whose firm has advised Wisconsin’s Democratic Gov. Tony Evers in the past and winning Arizona Senate candidate Ruben Gallego this year.
“So there’s an opportunity to really make sure people, who governors have a connection to, are feeling some specificity and clarity with the Democratic economic message,” Omero said.

 


Al-Hilal book spot in knockout stage of AFC Champions League Elite

Updated 4 min 11 sec ago
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Al-Hilal book spot in knockout stage of AFC Champions League Elite

  • The 3 Saudi teams maintain stranglehold on 12-team Group B after matchday 5 of 8, with Al-Ahli top on 15 points, followed by Al-Hilal and Al-Nassr on 13
  • Riyadh side open scoring in 10th minute but Al-Sadd remain a threat throughout highly competitive encounter and the pressure pays off with an equalizer after 71 minutes

DOHA: A 1-1 draw with Al-Sadd in Qatar on Tuesday was enough for Al-Hilal to book their place in the knockout stage of the AFC Champions League Elite with three group games to spare.
The three Saudi teams in the competition maintain their stranglehold on the 12-team Group B after the fifth round of games, with Al-Ahli topping the group on a maximum 15 points, two ahead of Al-Hilal and Al-Nassr. All three have already qualified for the last 16.
During a highly competitive encounter in Qatar, the result of which might have gone either way, Al-Sadd asked some tough questions of the visitors early on, perhaps aware of how Al-Khaleej came back from two goals down to defeat Al-Hilal 3-2 in the Saudi Pro League on Saturday.
However, it was the men from Riyadh who opened the scoring in the 10th minute. Mohammed Kanno rose high at the near post to meet a Salem Al-Dawsari corner and flick it on to defender Ali Al-Bulaihi, who was waiting to slide the ball home from close range with the kind of goal-scoring instincts teammate Aleksandar Mitrovic would surely have been proud of.
Five minutes later, the Serbian striker himself had a great chance but headed over with the goal at his mercy. Marcos Leonardo came closer just before the break with a low shot from outside the box that goalkeeper Meshaal Barsham did well to get a hand to.
It was not all one-way traffic, however. Al-Sadd, winners of the Champions League in 2011, had a couple of good efforts in the first half, with Youcef Atal and Mohammed Camara asking the questions.
Early in the second half, Akram Afif — recently crowned the successor to Al-Dawsari as AFC Player of the Year — shot just wide from outside the box as he tried to get more into the game.
The tie was almost put beyond the home side on the hour mark but Mitrovic shot just wide from close range after Nasser Al-Dawsari whipped in a fierce cross from the left.
Al-Sadd, however, started to pile on the pressure and were rewarded with the equalizer in the 71st minute. Afif curled a low cross around the defense from the left and Paulo Otavio got to the ball just ahead of goalkeeper Yassine Bounou.
Al-Sadd continued to press forward and looked the likelier of the two teams to score, with Tarek Salman heading against the crossbar with Bounou beaten.
There was still time, though for the video assistant referee to consider, and reject, three Al-Hilal shouts for penalties, the last of which came in the 15th minute of added time. Ultimately, though, the spoils were shared and that was enough for Al-Hilal on the night.


Teen who lied about beheaded French teacher’s class says ‘sorry’

Samuel Paty. (Photo credit: @Ch_Capuano)
Updated 8 min 5 sec ago
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Teen who lied about beheaded French teacher’s class says ‘sorry’

  • Paty had used the Charlie Hebdo magazine as part of an ethics class to discuss free speech laws in France, where blasphemy is legal and cartoons mocking religious figures have a long history

PARIS: A teenager whose lies about her teacher are accused of contributing to the educator’s murder by an Islamist radical apologized to his family in a French court on Tuesday.
Eight people have been on trial since early November, charged with contributing to the climate of hatred that led to an 18-year-old of Chechen origin beheading teacher Samuel Paty outside Paris in 2020.
They include Brahim Chnina, the 52-year-old Moroccan father of the adolescent testifying Tuesday.
Then aged 13, the adolescent falsely claimed that Paty had asked Muslim students to leave his classroom before showing caricatures of the prophet Mohammed.
She was not in the classroom at the time.
“I would like to apologize to the family,” the 17-year-old, who has not been named, told the court. “I destroyed your lives, I am sorry.”
Also on trial is Abdelhakim Sefrioui, a 65-year-old French-Moroccan Islamist activist.
He and Chnina spread the teenager’s lies on social networks with the aim, according to the prosecution, of “designating a target,” “provoking a feeling of hatred” and “thus preparing several crimes.”
Both men have been in pre-trial detention for the past four years.
The teenager told the court that she lied to her mother to justify why she had been suspended from school for two days over her behavior and repeated absences.
“I was in panic and stress,” she said. “I told her I had been in class and that I wasn’t happy with what went on there and that the teacher excluded me. That we looked at cartoons.”

Sefrioui posted a video describing Paty as a “teaching thug.”
He also staged an “interview” with the teenager outside the school, whispering to her what to answer. The adolescent dutifully reiterated the falsehoods.
“I thought somebody would stop me in my lying, but nobody ever said that I wasn’t in class,” she told the court Tuesday.
She stuck to her story even after Paty’s death. Only following her arrest and 30 hours of interrogation did she admit to investigators that she had made it all up.
The teenager, whose delivery in court was matter-of-fact, showed emotion only when she talked about her father.
“Without my lies, none of us would be here,” she said, sobbing. “I used my father’s naivete and kindness.”
She added that “my father says you must always respect teachers,” a remark that prompted an astonished “really?” interjected by the court’s presiding judge.
The teenager was sentenced to 18 months of probation in December 2023 after being convicted of slander.
Paty had used the Charlie Hebdo magazine as part of an ethics class to discuss free speech laws in France, where blasphemy is legal and cartoons mocking religious figures have a long history.
His killing took place just weeks after Charlie Hebdo republished the Prophet Muhammad cartoons.
After the magazine used the images in 2015, Islamist gunmen stormed its offices, killing 12 people.
 


After long wrangling, Blinken to testify in Congress on Afghanistan

Updated 8 min 52 sec ago
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After long wrangling, Blinken to testify in Congress on Afghanistan

  • Donald Trump drew criticism for shooting video for his campaign at Arlington National Cemetery where he appeared at a ceremony honoring troops killed in the evacuation
  • Democrats have insisted some blame for the messy end of the war should be laid at the feet of Trump, who began the withdrawal process by signing a deal with the Taliban in 2020

WASHINGTON: US Secretary of State Antony Blinken has agreed to testify publicly at a House of Representatives committee hearing on the 2021 withdrawal from Afghanistan, the panel said on Tuesday, after a long dispute with the Republican-led committee.
House Foreign Affairs Committee Chairman Michael McCaul said Blinken had committed to appear at a public hearing on Dec. 11 to discuss the committee’s investigation of the withdrawal three years ago.
The committee and the State Department have been wrangling over Blinken’s appearance for months. Panel Republicans voted in September to recommend Blinken be held in contempt of Congress for failing to comply with a subpoena.
The State Department had contended that the panel was provided with large amounts of information, with Blinken testifying before Congress on Afghanistan more than 14 times and the department providing nearly 20,000 pages of records, multiple high-level briefings and transcribed interviews.
McCaul released a report on Sept. 8 on the committee Republicans’ investigation of the chaotic Afghanistan withdrawal, blasting Democratic President Joe Biden’s administration for failures surrounding the evacuation.
The issue had become intensely politicized before the presidential election on Nov. 5. In his successful bid for a second term, Republican former President Donald Trump drew criticism for shooting video for his campaign at Arlington National Cemetery where he appeared at a ceremony honoring troops killed in the evacuation.
Trump also sought to pin blame for the withdrawal on Vice President Kamala Harris, his Democratic opponent.
Democrats have insisted some blame for the messy end of the war — less than seven months into Biden’s presidency — should be laid at the feet of Trump, who began the withdrawal process by signing a deal with the Taliban in 2020.
The issue could become even more politicized after Trump returns to the White House on Jan. 20, after he spoke during his campaign of firing those responsible for the pullout from Afghanistan.


AC Milan and Atletico Madrid each win to near automatic qualifying spots in Champions League

Updated 19 min 12 sec ago
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AC Milan and Atletico Madrid each win to near automatic qualifying spots in Champions League

  • Christian Pulisic put the seven-time champion ahead midway through the first half by finishing off a counterattack
  • Alvaraz and Griezmann lead Atletico to 6-0 rout

ROME: AC Milan followed up their win at Real Madrid with a 3-2 victory at last-place Slovan Bratislava in the Champions League on Tuesday.
Christian Pulisic put the seven-time champion ahead midway through the first half by finishing off a counterattack. Then Rafael Leao restored the Rossoneri’s advantage after Tigran Barseghyan had equalized for Bratislava and Tammy Abraham quickly added another.
Nino Marcelli scored with a long-range strike in the 88th for Bratislava, which ended with 10 men.
Milan moved up to 10th place in the new single-league format and within sight of the automatic qualifying spots. Bratislava have lost all five of their matches.
Milan won 3-1 at Madrid in their previous match.
Alvaraz and Griezmann lead Atletico to 6-0 rout
Argentina World Cup winner Julian Alvaraz scored twice, and Atletico Madrid routed Sparta Prague 6-0 to move up to ninth.
Alvaraz scored with a free kick 15 minutes in and Marcos Llorente added a long-range strike before the break. Alvaraz finished off a counterattack early in the second half after being set up by substitute Antoine Griezmann, who then marked his 100th Champions League game by getting on the scoresheet himself.
Angel Correa added a late brace for Atletico.
Atletico beat Paris Saint-Germain in the previous round and extended their winning streak across all competitions to six matches.
Sparta remained in the elimination places with four points.
The top eight finishers in the standings advance directly to the round of 16 in March. Teams ranked ninth to 24th go into a knockout playoffs round in February, while the bottom 12 teams are eliminated.