SCAI and SMC to launch joint venture to transform AdTech
Partnership to leverage AI and media expertise for region's media sector
#SaudiArabia #AdTech – SCAI (Saudi Company for Artificial Intelligence), a Public Investment Fund (PIF) company, and Saudi Media Company (SMC) have announced plans to launch an AI-powered adtech joint venture. Combining SCAI’s AI expertise and SMC’s media dominance, the venture aims to deliver cutting-edge advertising solutions, generating significant value for advertisers and publishers across Saudi Arabia and beyond.
SO WHAT? – SMC manages about 80% of the regional media’s commercial assets, including Qatar-pwned BeIN sports, the Saudi Broadcasting Authority, Rotana Media Group, SRMG, the inflight entertainment of Saudia and more than 70 digital platforms. The media group’s massive reach variety of media assets makes it one of the biggest sources of media data. The new joint venture with SCAI can be expected to leverage all that data to enhance media analytics, streamline ad processes and optimise digital monetisation. The solutions created by the new venture could impact some of the Middle East’s most influential media houses and biggest brands.
Here are some key points regarding the joint venture announcement:
SCAI, an AI company owned by the Saudi Public Investment Fund, and SMC, a leader in media sales with SAR 3.7 billion ($980m) in annual revenue, are uniting to form a transformative adtech company.
The joint venture combines SCAI’s advanced AI capabilities with SMC’s extensive media expertise to create solutions tailored to advertisers’ and publishers’ evolving needs.
The new company will focus on precision and efficiency in advertising, leveraging AI to optimise strategies and monetisation for digital properties across the Middle East.
Founded in 2018 and headquartered in Riyadh, SMC’s operations span the Middle East, including offices in Dubai and Cairo.
SCAI was officially launched in 2022 as a wholly owned company of the Public Investment Fund. SCAI delivers end-to-end cutting-edge solutions across various disciplines, with a focus on smart cities.
ZOOM OUT – The new SCAI-SMC joint venture reflects Saudi Arabia’s broader ambition to lead in advanced technologies, especially in sectors such as AI and digital transformation. 2024 was dubbed ‘Year of Media Transformation’ by Saudi’s media minister H.E. Minister of Media Salman Al-Dosary. speaking at the Saudi Media Forum in February. Goals for this year included raising the media sector’s GDP contribution from $3.9 billion in 2023 to $4.3 billion and increasing media-related employment from 56,000 to 67,000 jobs. Partnerships signed this year by the Saudi Ministry of Media include deals with Google, Microsoft and eWTP Arabia Capital.