Logo ofShahid platform
MBC Gorup’s streaming platform, Shahid, incurred a net loss of SAR 23.3 million in the first nine months of 2025, compared to a loss of SAR 61 million a year earlier. 
Shahid’s Results (SAR mln)
Item
9M 2024
9M 2025
Change (%)
Revenue
805.7
1,017.1
+26%
Net Profit
(61.2)
(23.3)
+62%
The platform cut its losses as revenues rose 26% to SAR 1.02 billion in 9M 2025 compared to the same period last year, driven by a rise in subscriber numbers and advertising revenue.
Shahid also reduced its quarterly losses as revenues increased to SAR 320.3 million in Q3 2025, up 29% year-on-year, while gross profit more than doubled to SAR 45.8 million, supported by higher subscription-based (SVOD) revenues and continued efforts to improve cost management.
Shahid Performance (SAR mln)
Period
Revenue
SVOD Contribution
Net Profit
2024
Q1
298.2
73.6 %
(6.5)
Q2
259.1
82.8 %
(16.7)
Q3
248.3
83.1 %
(38.0)
Q4
273.2
83.3 %
(67.9)
2025
Q1
391.1
67.5 %
13.3
Q2
305.4
90.4 %
(10.6)
Q3
320.3
85.3 %
(26.0)
The group noted that although the expiry of the Saudi Pro League (SPL) contract affected revenues in the short term as expected, overall engagement levels exceeded expectations, reflecting Shahid’s ability to deliver sports content outside league rights and the diversity of its broader entertainment offering.
The company previously expected to reach breakeven by end-2027, focusing on profitable returns through cost control and scalable growth initiatives.
Logo ofShahid platform
MBC Gorup’s streaming platform, Shahid, incurred a net loss of SAR 23.3 million in the first nine months of 2025, compared to a loss of SAR 61 million a year earlier.
Shahid’s Results (SAR mln)
Item
9M 2024
9M 2025
Change (%)
Revenue
805.7
1,017.1
+26%
Net Profit
(61.2)
(23.3)
+62%
The platform cut its losses as revenues rose 26% to SAR 1.02 billion in 9M 2025 compared to the same period last year, driven by a rise in subscriber numbers and advertising revenue.
Shahid also reduced its quarterly losses as revenues increased to SAR 320.3 million in Q3 2025, up 29% year-on-year, while gross profit more than doubled to SAR 45.8 million, supported by higher subscription-based (SVOD) revenues and continued efforts to improve cost management.
Shahid Performance (SAR mln)
Period
Revenue
SVOD Contribution
Net Profit
2024
Q1
298.2
73.6 %
(6.5)
Q2
259.1
82.8 %
(16.7)
Q3
248.3
83.1 %
(38.0)
Q4
273.2
83.3 %
(67.9)
2025
Q1
391.1
67.5 %
13.3
Q2
305.4
90.4 %
(10.6)
Q3
320.3
85.3 %
(26.0)
The group noted that although the expiry of the Saudi Pro League (SPL) contract affected revenues in the short term as expected, overall engagement levels exceeded expectations, reflecting Shahid’s ability to deliver sports content outside league rights and the diversity of its broader entertainment offering.
The company previously expected to reach breakeven by end-2027, focusing on profitable returns through cost control and scalable growth initiatives.
