MBC Media signs agreement to manage Joy Awards 2025

In another context, MBC Group announced the signing of a services agreement between its wholly-owned subsidiary, MBC Media Saudi Arabia Limited (“MBC Media”), and Sila Company (“Sila”), for the purpose of providing production and management services for the Joy Awards 2025 in the Kingdom, which is a ceremony organized by the General Entertainment Authority.

The company said in a statement that the value of the agreement exceeds (10%) of total revenues according to the latest audited annual financial statements for the year 2023, indicating that under the agreement, MBC Media will provide production and management services for the Joy Awards ceremony, which will be held on January 18, 2025, and Sila will finance the Joy Awards ceremony and pay the agreed budget value that includes the costs of the ceremony (including fees) for the services.

The company explained that the financial impact of the agreement will be reflected in the company’s financial results for the year 2025.