Netflix and Saudi Arabia’s MBC Group-owned Shahid are launching the Middle East’s first joint streaming subscription, aiming to capture each other’s audiences.
Shahid leads the Middle East’s $1 billion streaming market with a 22% share, according to research firm Omdia, and is the go-to for new Arabic dramas and MBC classics popular with older viewers. Netflix is ranked third with 17%, far ahead of international rivals like Amazon Prime and Disney+, which each have about 5% of the market.
The bundle costs subscribers about 20% less than paying for both services separately. Saudi Arabia’s Public Investment Fund owns a 54% stake in MBC, which it acquired last year for around $2 billion.