News

Two Abu Dhabi Companies Acquire StarzPlay Arabia

E-Vision and Abu Dhabi holding company ADQ have bought a 57% portion of video streaming service StarzPlay Arabia.

Published

2 years ago

October 19, 2022

two abu dhabi companies acquire starzplay arabia

A consortium led by telecoms operator e& has completed a deal to acquire a majority share in the video streaming service StarzPlay Arabia.

The deal has meant that E-Vision, the entertainment arm of e&, along with Abu Dhabi holding company ADQ, now owns 57% of the MENA region’s fastest-growing video streaming service. After filing on the Abu Dhabi Securities Exchange (ADX) on Tuesday, e& issued a statement, which read:

“This acquisition is in line with e&’s strategy to scale up the entertainment segment of e& life consumer digital vertical by accelerating E-Vision’s development on the video streaming segment, and significantly enhances StarzPlay Arabia’s positioning across the entire MENA region,” says e&.

The acquisition follows an initial announcement back in March that a deal would be taking place. Starz and parent company Lionsgate will maintain commercial agreements for content licensing.

Netflix, Shahid VIP, and the UAE-based StarzPlay Arabia currently control two-thirds of the MENA region’s over-the-top services (OTT) market, with StarzPlay controlling 20%.

Also Read: How To Watch Arabic Channels In USA, Canada & Australia

The recent deal, which values StarzPlay at $420 million, will inject up to $130 million into the platform for new content acquisition and original programming from around the region, as well as Italy’s Serie A, AFC (Asian Football Confederation) games, UFC and Asia Cup cricket matches.

The video streaming service expects annual revenue to climb by 40% from the previous year, with subscribers increasing by 20% to 2.1 million.

StarzPlay aims to reach profitability by the second quarter of 2024, and for e&, the collaboration will allow custom content options for customers, who will be able to utilize 5G download speeds to watch content on the go, with future plans for immersive VR experiences and augmented reality-based shows.

News

NASA Forms New Partnership With Saudi Space Agency

The pair will collaborate on the Center for Space Futures, advancing space tech by bringing together public and private stakeholders.

Published

3 days ago

May 16, 2024

Nour Nasir

Saudi Space Agency

Saudi Arabia’s space industry is on the brink of substantial expansion after generating $400 million in revenue in 2022, according to a report by the Saudi Communications, Space and Technology Commission.

Now, in a new venture with NASA, plans for a “Center for Space Futures” are set to further drive the Kingdom’s aspirations of becoming a leading player in space exploration and technology.

Capturing moments from the joint delegation visit with leaders from the Saudi and American Space Agencies @NASA to @PSU_RUH, along with scenes showcasing the audience's engagement. pic.twitter.com/oB1cFTiRNl

— وكالة الفضاء السعودية (@saudispace) May 14, 2024

The partnership between NASA and Saudi Arabia goes beyond economic advantages. The pair have already cooperated on preliminary work for the Artemis II lunar mission, which is slated for a September 2025 launch and aims to land astronauts near the moon’s South Pole.

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During a visit to the capital, Riyadh, NASA Administrator Bill Nelson emphasized in a TV interview the broader objectives of the collaboration, which encompass “returning to the moon and then [to] Mars” while utilizing space exploration to glean important insights into climate change. The NASA spokesman also reiterated the space agency’s dedication to collaborating with Saudi Arabia on other future ventures.