Pierre Choueiri Issues his First Comments on the Non-Renewal of the Partnership Between MBC Group and AMS FZ LLC
Tackling the non-renewal of the partnership between MBC Group and AMS FZ LLC after nearly 16 years of sustained commercial growth, Pierre Choueiri: “We’re proud of the mutual trust, record growth and shared successes with MBC Group, over 16 years. New partnerships with top industry players in perspective.”
In his first comments on the non-renewal of the strategic commercial partnership between MBC Group AMS FZ LLC – “Arabian Media Services”, the Chairman and CEO of Choueiri Group, Pierre Choueiri said: “We are proud of the mutual trust, record growth and shared successes with MBC Group, over nearly 16 years of sustained growth, across all MBC channels, platforms, and offerings.”
Choueiri further added:” Initiated in 2005, our partnership comes to an end on December 31, 2020. Our journey has been paved with challenges, opportunities, great achievements, and tangible results. We obviously have a lot of gratitude and appreciation to MBC.”
Commenting on this multi-year partnership, Choueiri continued by saying that: “Our key objectives have always been to grow the Advertising market in MENA, drive innovation, increase investments and consumption activity, create jobs and instill measurability, up to international standards. Clearly, representing MBC Group and partnering with the region’s top Advertisers and Ad/Media Buying Agencies were privileges that have helped us achieve most of these outlined objectives while stabilizing and growing the regional Advertising market, especially in Saudi Arabia, the United Arab Emirates, and Egypt, among others.”
In terms of results, Choueiri highlighted the fact that: “MBC Group’s Advertising revenues witnessed sustained exponential, record growth during our multi-year partnership, consistently exceeding the TV Advertising market performance. Basically, this growth – coupled with MBC’s unique know-how – enabled millions of individuals in MENA, over the years, to experience the best multi-media, family entertainment offerings and to enjoy premium TV and Digital content that’s world-class.”
Going forward, Choueiri said that his group is: “Optimistic, or rather bullish about the future, especially in light of the sharp “Vision 2030” in KSA. We are currently assessing new partnerships with top industry players across the advertising, media, and entertainment spectrum; and we are investing in state-of-the-art technologies, with a primary focus on data and analytics.”
Finally, Choueiri concluded: “We are committed to further growing the industry and to moving it forward while trying to energize the consumption activity; create more jobs and opportunities for Arab youth, and instill global best practices.”
“Messages of respect, gratitude and appreciation”
In the same context, Pierre Choueiri – in his personal capacity; and on behalf of Choueiri Group business partners, directors, and CG team members – extended what he described as “messages of respect, gratitude and appreciation” to the “Dream Team” at MBC Group, represented by its visionary leader-founder; senior management and top executives; and all team members. Choueiri went on to ascertain that this partnership has always been marked by trust, mutual respect, professionalism, and stellar performance.
These messages of respect, gratitude, and appreciation go out from Pierre Choueiri to Sheikh Waleed Al-Ibrahim (Chairman, MBC Group); Ali Al-Hedeithy (Group General Manager); Sam Barnett (Former Group CEO over 18 years); John Whitehead (Group Legal Counsel); as well as Abdul Rahman AlRashed, H.E. Adel Al-Toraifi, H.E. Turki Al-Dakhil; Mamdouh Al-Muhaini; Matar Al-Ahmadi; Nakhlé El-Hage, Dr. Nabil Khatib; Jamil El-Hage; Faisal Abbas… in addition to Dawood Alshirian, Mohammed Altunisi; Ali Jaber, Mohamed Abdel-Motaal, Samar Akrouk, Mazen Hayek, Fadel Zahreddine, Sharif Badreddine, amongst many others. Finally, Choueiri concluded by wishing Mark Antoine D’Halluin, MBC Group’s new CEO, a successful journey ahead.
