Abu Dhabi's Multiply creates media company with global plans

Dubai: The Abu Dhabi based Multiply Group has created a holding company for its three media sector assets.

The new entity, Multiply Media Group brings together BackLite Media, Viola Media and Media 247 and 'represents a significant move that will shape the future of tech-enabled media in the UAE and beyond', according to a statement from Multiply, itself part of the Abu Dhabi mega holding company IHC.

The new company was formally launched in Mexico City and was on full display at digital out-of-home screens in key global cities.

This also represents the first step towards Multiply Media Group taking on more markets outside of the UAE.

MMG will thus 'invest in high-potential media assets' as well as 'create synergies across its portfolio through strategic investments'.

"By bringing together market-leading media assets under a single AI & tech-driven group, we are reinforcing our commitment to long-term value creation and shareholder returns," said Samia Bouazza, GCEO and Managing Director of Multiply Group.

"MMG lays a strong foundation for our global ambitions and forward-looking investment strategy.”

Multiply Group has within its fold a series of strategic assets and is a quite substantial '$7.2 billion holding company'. (IHC's market cap is over $240 billion.)

The new entity will be a 'launchpad to capture regional and international opportunities' in the media sector.

MMG assets

MMG operates 3,000 advertising units in the UAE, including more than 75+ locations on Sheikh Zayed Road. These are 'backed by long-term partnership agreements with RTA's Mada Media in Dubai and The Department of Municipalities & Transport (DMT) in Abu Dhabi'.

Multiply recently entered a JV with Al Arabia to invest in the out-of-home (OOH) advertising sector. There was also a MoU with Saudi Media Company (SMC).

These underscor the 'global expansion potential of Multiply’s portfolio brands'.  

Multiply Group’s other media holdings include Yieldmo, a contextual mobile ads platform, and Firefly, North America’s leading digital taxi-top company. The group bought Viola Communications, a marketing and communications firm, in 2021.