June 20, 2024

Mergers & Acquisitions

Acquisition of Finyal Media- A Boost to Sowt!

Founded in 2016, Sowt Media, a podcast platform headquartered in Amman that provides multichannel audio for Arabic speakers worldwide, has acquired Finyal Media, a podcast production company based in Dubai.

Sowt announced in a quote issued on Monday that the acquisition will solidify its content, viewership, and sources of revenue. According to the corporation, the purchase was funded by Sowt and Media Development Investment Fund (MDIF), a non-profit institution registered in New York. The details of the transaction are undisclosed.

Chief Executive of Sowt, Ramsey G Tesdell is very excited about the potential growth that the acquisition can spark, not just for the company, but for listeners too. This is a big step not just for Sowt but for the entire industry in the Middle East and Africa.

As per the findings of Grand View Research, the podcasting market across the globe should grow at a CAGR of 31.1 percent from 2021 to 2028. In 2020, the valuation of this market stood at a humble 11.5 billion USD.

Finyal Media has come up with some exceedingly popular podcasts in recent years. 1001 Nights, The Basement, and Sindbad, among others, are some of its best productions.

Similarly, many productions of Sowt Media have made waves in international waters. Matryoshka, Eib, and Manbet, among others, have been among the best podcasts created at Sowt.

Finyal’s co-founder and chief executive, Leila Hamadeh, considers the acquisition as a “major milestone” for the podcast industry. Sowt occupies the top slot among Arabic language podcasts, producing quality content for years. So, the combined effort of talents and management at these two firms signal a bright future for the new Sowt Media, observed Bilal Randeree, MDIF’s programme director for Africa and Mena.

It’s brilliant news for Arabic Podcast fans!

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