The Saudi Research and Media Group (SRMG) announced the launch of Raff Publishing to meet the market needs of the Middle East and North Africa (MENA) region.
Raff Publishing is in the process of transforming the publishing industry in MENA by embracing digital technologies, exploring new formats, and adopting innovative business models.
The new publishing house aims at publishing regional and international titles in Arabic e-book segment, reaching new audiences with audio books in Arabic and translations of global best-sellers, reviving Arabic literary classics, and delivering on-demand publishing to audiences across the MENA region.
The global publishing market is expected to grow at an annual rate of 3% over the next five years; a global industry currently valued at $92.68 billion, and is expected to reach $104.21 billion in 2025.
The annual e-book growth rate of approximately 12% and audio books recording the highest growth rate of 24.4% represents promising business opportunities for the group.
Joumana Rashed Al-Rashed, CEO of SRMG, says, “We will launch a new approach to publishing, through which we seek to meet the content requirements of an audience that embraces technical progress in Saudi Arabia and the region. And with the launch of the Manga Arabia Kids, we saw a huge demand from young Arab talents, with creative ideas, ready-made scripts and unique perspectives, and realized that we only need to provide an outlet for these talents to flourish.”
The group sees an opportunity to generate significant economic returns by tapping into a new audience base, creating avenues of consumption, and satisfying the demand for Arabic content – including publishing world bestsellers whether creative fiction or non-fiction, including history, arts, politics, economics, and business.
Led by a newly appointed team, SRMG focuses on providing original, exclusive, and quality content to the public through innovative digital and social platforms, as well as enhancing its reach via satellite. The group also plans to enhance its data and technology capabilities, to develop new products and services, enhance its financial capabilities, and diversify its revenue sources.