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The Middle East media and entertainment market was valued at $ 30,349. 4 million in 2020, and it is expected to reach a value of $ 47,029. 82 million by 2026, registering a CAGR of 7.4% over the period 2021-2026.
New York, November 04, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Middle East Media and Entertainment Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06020233/?utm_source=GNW
With the increasing spread of COVID-19 in the region, businesses have suffered greatly. Some players operating in the region are putting in place some initiatives to combat the situation, which is having a positive impact on the media and entertainment market. For example, in April 2020, in order to support the Government of Qatar in raising public awareness to limit the spread of COVID-19, ELAN Group launched a CSR awareness campaign to strengthen staying at home and keeping a safe distance from everyone. others are some of the most important things people can do in the fight against COVID-19-19. The campaign is taking place on many seniors and MUPIs of ELAN Media and in all the municipalities of Doha and Greater Doha.
Highlights
– The media and entertainment (M&E) industry was one of the first industries to lead digital disruption, and its transformation is far from complete. As critical networks and studios have continued to unveil their direct-to-consumer streaming facilities in 2020, gamers are likely to scramble to deliver content libraries large enough to attract and retain customers, enabling and generating opportunities and rewards. opportunities for media and entertainment companies to re-aggregate their content libraries with a comprehensive collection of offerings, ranging from music, video and game services to ad-supported content.
– The media and entertainment industry in the Middle East is undergoing a transformation. Cultural changes among the region’s youth have generated considerable traction, and the untapped demand for local Arabic content will significantly boost the growth of regional media. In addition, the increased adoption of mobile technology has created significant opportunities on media platforms. In addition, developments in pay and digital media have created new investment approaches. These changes offer regional media players a chance to reset their business models and explore investments in high-quality local content and offer global players, in particular, a reason to re-evaluate their presence in the region.
– The use of social media has also increased across Saudi Arabia, a trend that is of interest to advertising agencies, brands and media companies. According to the GSMA, the region has around 44% mobile social media penetration, which is double compared to 5 years ago. Facebook now has more than 187 million monthly active users in the region. Social media in Saudi Arabia has over 10 million active users, or 38% of the population, and around 8.3 million in Turkey (13%). In addition, the television industry in the region has also gone through a transition.
– The new pay-TV and OTT players are increasingly populating the market which has hitherto been dominated by free-to-air (DTH) broadcasting. GCC countries are investing heavily in upgrading technology due to broadband initiatives from various countries to support OTT platforms. A growing number of broadcast networks such as icflix, Starz Play, Istikana and Netflix, operating globally and locally, offer subscription VOD services to viewers in the region.
Key market trends
SVOD segment expected to experience significant growth
– Subscription video on demand (SVOD) allows the use of an entire library of content at a fixed subscription rate, typically monthly. This model falls under the “all you can eat†buffet, where viewers can consume unlimited content without advertising if they subscribe to the service.
– SVOD currently ranks as the most successful monetization model, representing the largest segment of the OTT market. The biggest players in the OTT market, like Netflix, Amazon Prime Video, and Hulu, and new entrants like Disney +, Apple TV +, HBO Max, etc., use the SVOD model.
– In addition, telecommunications companies have introduced a solution that provides information on the amount of data used when streaming videos over a mobile network. For example, Vodacom introduced Video Play Time, Video Play Time plans, a unique solution that takes the guesswork out of data usage when streaming video over a mobile network and helps customers use their data efficiently. .
– The countries of the Middle East are also experiencing partnerships between customer management service providers and SVOD service providers. For example, in August 2021, OSN selected Evergent to power monetization and customer management for OSN’s new video streaming service in the Middle East and North Africa region. Additionally, the company is the exclusive distributor of the new Disney + Originals in the Middle East and has long-term partnerships with major studios including HBO, NBC Universal, FOX, Paramount, MGM and Sony.
Additionally, in September 2021, Middle Eastern on-demand streaming service TenTime partnered with tech company Accedo to help expand the availability of its SVOD service content to connected TV platforms.
– With Apple TV channels, subscribers can watch online on demand or enjoy offline downloads of their most popular shows on the Apple TV app. With Family Sharing, up to six friends or family can share Apple TV channel subscriptions using just their Apple ID and password. These benefits offered as part of the subscription are expected to drive more customers to opt for the service and increase the market share of SVOD providers, such as STARZPLAY.
Digital advertising expected to experience moderate growth
– Economic growth in the region is stimulating digital development with increasing penetration of mobile telephony and Internet subscriptions. Companies operating in the Middle East region are focused on increasing their digital ad spend. For example, according to the Telecommunications Regulatory Authority (UAE), as of March 2021, there were around 3.27 million internet subscriptions in the United Arab Emirates.
– The use of smartphones to access content is increasing in the region as internet penetration increases exponentially. For example, according to Ericsson, mobile data traffic by smartphone in the Middle East and North Africa in 2020 was six GB / month, which is expected to reach 30 GB / month with a CAGR of 30%. In addition, according to a study by Northwestern University in Qatar, which surveyed 7,303 respondents in the region, it was found that a greater proportion of Arab nationals receive information on social media platforms such as Facebook ( 42%), WhatsApp (30%) and YouTube. (24%).
– In addition, social media advertising is expected to hold a significant market share, followed by search advertising, video advertising, banner ads and classifieds in that respective order. The focal point should be the smartphone, as many users would have to use the device to access content.
– The value of Internet advertising spending in the region is expected to increase at a sustained rate. For example, according to a study by Zenith, the value of Internet advertising spend in the Middle East and North Africa in 2022 is expected to reach $ 1,205 million. During the forecast period, the demand for social media ad spend is expected to grow faster due to the proliferation of social media use in the region.
– In September 2020, Podean officially opened its Middle East headquarters in Dubai. Podean is a global independent Amazon service provider offering complete digital advertising solutions for marketing to international and local brands. Moreover, with the increase of e-commerce in the Middle East and North Africa (MENA) region, Amazon is already the leading player and presents a formidable sales channel for brands that are growing. establish early.
Competitive landscape
The market is very competitive, with the presence of major international and regional players. The market presents growth opportunities during the forecast period which is expected to further stimulate the competition. With few players holding a significant share, the market has an observable level of consolidation.
– September 2021 – Refinitive plans to optimize its content management system to improve the relationship between wealth advisers and their clients and make the workflow more efficient. Refinitiv’s intuitive content management system, House Views and Market Insights, will provide a solution. This unique digital platform will combine and aggregate relevant internal and external data, enabling wealthy businesses to optimize workflow.
– September 2021 – Abu Dhabi Media network Abu Dhabi, the UAE’s leading public media services company, has launched its new program cycle, comprising a variety of entertainment, social and dialogue programs and activities, in focusing on delivering innovative content that meets listeners’ interests and aspirations and focuses on interacting with them on digital platforms. The radio will also continue to broadcast its programs, which have obtained listeners’ permission, such as the entertainment show “Sweeter Sabah”, which introduces listeners to all the topics, news and activities that interest them through its various renewed paragraphs.
– June 2021- Intigral announced the launch of its flagship OTT platform Jawwy TV in the UAE market through strategic partnerships with the country’s telecommunications providers Etisalat and. The launch is marked by offers available through different payment methods for weekly and monthly subscribers to direct operator billing (DCB) of Etisalat and. These types of partnerships and offers help the company acquire a larger customer base in the region.
Additional benefits:
– The market estimate sheet (ME) in Excel format
– 3 months of analyst support
Read the full report: https://www.reportlinker.com/p06020233/?utm_source=GNW
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