Jomana Al-Rashid CEO of the Saudi Research and Media Group (SRMG) the 3+ BILLION USD Media Empire in the vibrant business landscape of the Middle East, a prestigious ranking by Forbes Middle East has placed, at the pinnacle of media industry leadership in its 2023 roster of the 100 most powerful businesswomen in the region. Al-Rashid’s influence and command in the business world are evident, as she claims the 25th spot overall in this acclaimed list. Jomana Al-Rashid in board of the Argaam Investment Company and serves as the chairman of the Red Sea Film Festival Foundation and chairman of Thmanyah Publishing and Distribution.
At the helm of SRMG since October 2020, Al-Rashid has steered the company through significant transformations, including a strategic rebranding from its former identity as the Saudi Research and Marketing Group. Under her leadership, the group has witnessed substantial financial success, with revenues soaring to $719 million in the first nine months of 2022. This marks an impressive 27.6 percent increase from the $563.6 million reported in the corresponding period of 2021.
SRMG’s expansive operations span 11 countries, showcasing a diversified portfolio that includes the ownership of 25 websites and 30 brands.
Among its many ventures, it is renowned as the publisher of the Arabic Manga Magazine, further highlighting the group’s diverse media presence.
Forbes Middle East, Banks and lobal impact Jomana
Forbes Middle East’s latest list, unveiled on a Thursday, spotlights influential women who are spearheading progress across 27 diverse sectors. The 2023 edition features a strong presence of Emirati and Egyptian businesswomen, with 15 and 12 entries respectively. Saudi Arabia boasts 11 powerful figures, including Al-Rashid, while Kuwait, Lebanon, Oman, and Qatar also feature prominently.
The banking and financial services sector claims the lion’s share of this year’s list, with 23 distinguished women, followed by 11 from diversified conglomerates and eight from the investment sector.
Among the top ranks, Emirati business magnate Hana Al Rostamani, Group CEO of the First Abu Dhabi Bank, has advanced two places to clinch the top spot. Hot on her heels is Raja Easa Al Gurg, the esteemed chairperson and managing director of the Easa Saleh Al Gurg Group. The highest-ranked Saudi woman is Lubna S. Olayan, who occupies the third position as chair of the Saudi British Bank and the executive committee, and as deputy chair of the Olayan Financing Company.
What sets some of these esteemed women apart is not just their regional dominance but also their global impact. Notably, both Al Rostamani and Al Gurg have earned their spots in the Forbes list of the world’s 100 most powerful women in 2022, showcasing the far-reaching influence of Middle Eastern business leadership on the global stage.
The achievements of Jomana Al-Rashid and her contemporaries serve as a testament to the dynamic and evolving role of women in shaping the economic future of the Middle East and beyond. Their contributions underscore the burgeoning presence of female leaders in sectors that drive both regional and global markets, heralding a new era of diversity and empowerment in the business realm.
What is The Saudi Research and Media Group
The Saudi Research and Media Group (SRMG) is a prominent media conglomerate headquartered in Riyadh, operating under the structure of a joint stock company. As a major player in the media landscape of Saudi Arabia, SRMG’s operations encompass a broad spectrum of media-related activities, including publishing, printing, and distribution of a wide array of publications.
In the context of Saudi Arabia’s media environment, where independent media operates, SRMG functions within the parameters set by the state. The group is recognized for its alignment with and close connections to the prevailing governmental framework, notably having ties with the government under the leadership of Mohammed bin Salman.
SRMG has established itself as a significant entity within the region’s media sector, contributing to the dissemination of information and media content in Saudi Arabia. Despite the unique challenges presented by the media climate in which it operates, SRMG maintains a substantial role in the kingdom’s media narrative and output.
Saudi Research and Media Group aka SRMG New Headquarters in Riyadh’s King Abdullah Financial District (KAFD)
The new headquarters will house the Group’s various media platforms and businesses under one roof including: “Asharq Al-Awsat”; Asharq network which includes “Asharq News” and “Asharq Business with Bloomberg”, “Arab News”, “Independent Arabia,” “Argaam”, “Manga Arabia”, “Sayidaty” and “Hia” magazines, as well as the Group’s businesses: SRMG Media, SRMG X and SRMG Think, ultimately leading to the establishment of a thriving creative media hub at the King Abdullah Financial District (KAFD). The Group’s integration will also strengthen its position as a preferred media partner, and builds on the success of its existing partnerships with leading institutions such as Bloomberg and The Independent.
Chief Executive Officer of SRMG, Jomana Al-Rashid, said:“Our vision for the new headquarters is to drive the creation of a global creative media hub at KAFD in particular and in the city of Riyadh in general. The Group’s headquarters will attract creative talent and provide numerous career opportunities across more than 30 media platforms in all disciplines and fields, including content creation, journalism, production, directing, writing, event management and more. SRMG will also serve as an incubator for entrepreneurs by offering investment and strategic support, and facilitate new business opportunities underpinned by the latest technologies in connectivity, communication, and data analysis, which will ultimately lead to a great positive impact on the Group mainly and the wider media sector”
Gautam Sashittal, CEO of King Abdullah Financial District (KAFD), said: “The establishment of the headquarters in KAFD for the most prominent regional media group is an important step in our development as a premium business and lifestyle destination in the region. The presence of the new headquarters of the Saudi Research and Media Group will contribute to enriching the business environment within KAFD, in addition to its contribution to attracting talent and stimulating growth and expansion. We welcome SRMG to KAFD; together we will support the Kingdom’s future as a knowledge and information-based economy.”
The King Abdullah Financial District (KAFD) is set to host the headquarters of many international companies and serve as the center of the Kingdom’s digital economy. SRMG’s new headquarters is located in the fourth district at KAFD and will consists of 10 floors to accommodate around 1,200 employees. The interior spaces of the new headquarters, to which the Group will gradually move, are designed to encourage cross-collaboration, and provide an interactive working environment.
Old Saudi Research and Media Group (SRMG) Place:
- Who is Jomana Al-Rashid?
Jomana Al-Rashid: The Media Queen Behind the $3+ Billion Empire
👑 Meet Jomana Al-Rashid, the trailblazing CEO of the Saudi Research and Media Group (SRMG), a media juggernaut redefining the industry’s future. Since taking the helm in October 2020, she’s championed a massive rebrand, morphing the Saudi Research and Marketing Group into a media titan with a fresh, dynamic identity.
💼 With a seat at Argaam Investment Company’s board, Al-Rashid’s influence stretches across the financial news terrain, adding a layer of market acumen to her media mastery.
🎬 As chairman of the Red Sea Film Festival Foundation, she’s at the forefront of the region’s cinematic evolution, spotlighting stories through a lens that captivates millions.
📚 Steering Thmanyah Publishing, she’s not just distributing content; she’s curating a cultural library for the Arab world and beyond.
📈 Under her leadership, SRMG saw a staggering 27.6% revenue leap, a testament to her strategic prowess and the group’s innovative drive.
🌍 From the Saudi embassy’s media department in London to the boardrooms of the Middle East, Al-Rashid’s journey is nothing short of spectacular, spanning across 2,000 employees and 18 offices in 11 countries.
💰 Jomana Al-Rashid isn’t just a CEO; she’s a visionary architect building empires where dollars and dirhams dance to the tune of billions. Where she leads, the market watches, and wealth follows.
November 7, 2023