Longtime television executive Sam Barnett is relinquishing his role as CEO at leading Middle Eastern broadcasting and streaming company, MBC Group. Instead, Mike Sneesby, the previous CEO of Australia’s Nine Entertainment, will take over the position.
For over twenty years, Barnett played a crucial role at MBC, leading the company during two different periods. His leadership significantly contributed to MBC’s rise as a prominent player in both traditional broadcasting (linear) and streaming markets across the Middle East. Now, Barnett is set to take on the role of CEO for Central European Media Enterprises, based in Prague.
In September 2024, Sneesby departed from Nine Entertainment, an organization encompassing television, streaming, and print media, after enduring several tumultuous months that culminated in a staff vote of no confidence against him and the company’s board.
Sneesby was previously co-founder of Australian streamer Stan and its CEO from 2015.
Sneesby’s selection to head MBC Group occurs during a period when the company, owned by Saudi entities, is experiencing growth momentum. This growth comes after offering a 10% share for sale on the Riyadh Stock Exchange towards the end of 2023 and witnessing an upward trend in its streaming sector.
Currently, the Saudi government controls approximately 60% of MBC, with the remaining 40% being owned by MBC Group’s chairman, Waleed bin Ibrahim Al-Ibrahim. It was this same individual who initially established the pan-Arab satellite broadcaster that runs the popular streaming service Shahid VIP, which is a leading premium platform.
Streaming services are experiencing significant growth in the Middle East and North Africa (MENA) region, with the Over-the-Top (OTT) subscription video market expanding by a strong 13% in 2023. This expansion is primarily driven by local players such as Shahid and StarzPlay, as reported by media analyst Omdia. By 2024, streaming revenues in this region are projected to reach $1.2 billion.
Shahid, a subsidiary of the Saudi-owned linear TV operator and streamer MBC Group, dominates the MENA streaming market with a 22% share, amassing a total of 3.6 million subscribers by the end of 2023.
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2025-04-08 09:17