Middle East Media and Entertainment Market: Current Analysis and Forecast (2022-2028)

Middle East Media and Entertainment Market: Current Analysis and Forecast (2022-2028)

The Media and Entertainment market is expected to register a CAGR of approx. 7.5% over the period of 2022-2028. The Middle East media and entertainment industry is undergoing significant transformation. Cultural shifts among the region's young people have spawned considerable traction, and untapped demand for local Arabic content will spur regional media to grow considerably. Also, the increased adoption of mobile technology has created significant opportunities across media platforms. Moreover, evolutions in paid and digital media have created new rationales for investments. These changes provide regional media players with 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 usage of social media has also been growing across Saudi Arabia, a trend of interest to agencies, brands, and media companies alike for advertisements. According to GSMA, the region has around 44% mobile social media penetration, which is double compared to 5 years ago.

Tourism is a major economic pillar in most of the MENA countries as destinations in the region share vast cultural, natural, heritage, and religious tourism assets. A rise in the number of international tourists in the middle east region is leading to the growing demand in the media and entertainment market. For instance, in 2018, destinations in the MENA region welcomed around 87 million international tourist arrivals (overnight visitors) accounting for nearly 6% of the world’s total arrival. Furthermore, the government in UAE has set a vision to make the region a tourism hub. In 2019, the U.A.E. was the leading country in terms of the number of tourists arriving. The region had witnessed 21.55 million tourists. Also, Saudi Arabia welcomed 20.29 million international tourists.

MBC Group, Orbit Showtime Network, Arab Media Group, Abu Dhabi Media, beIN Media Group, Zawya Ltd (Refinitiv), Intigral Inc., Eye Media LLC, Qudurat Media, CMT Technologies., are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
"Amongst product type, the music & videos segment category accounted for the significant share in the market in 2020”

Based on the product type, the market is segmented into movies, music & videos. The music & videos segment grabbed the major market share and dominated the market in 2020. This high share is attributed to the fact that television has been a strong, growing, and increasingly dynamic industry in the Middle East with a surge in the total number of channels. Though Pay TV and other on-demand services constitute a small portion of the industry, as compared to other countries across the globe, these are expanding at a notable rate. IPTV digital services provided by telecommunication companies are also becoming popular in the region.
"Middle East to witness significant growth during the forecast period”

For a better understanding of the market dynamics of the Media and Entertainment market, a detailed analysis was conducted for different countries across the regions Saudi Arabia, Qatar, Kuwait, UAE, Bahrain, Oman, Rest of the Middle East has been conducted. Saudi Arabia constitutes a major market for the Media and Entertainment industry owing to rising Internet penetration and the emerging number of smartphone users in the countries such as the UAE, Saudi Arabia, etc.,

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.