Online Video Revenues to Grow Over 21% Annually Until 2021 – EY REPORT

Press Release

Online Video Revenues to Grow Over 21% Annually Until 2021 – EY REPORT

13 Jan 2018

Online Video Revenues to Grow Over 21% Annually Until 2021 – EY REPORT

Digital consumption in the Middle East and North Africa region is growing at one of the fastest paces in the world, driven by a large population, fast-improving mobile connectivity and a flood of new streaming platforms in the market.

That’s the top line from an EY report commissioned by the Dubai World Trade Centre published ahead of CABSAT, the region’s most influential cable, satellite and broadcast event opening at the Dubai World Trade Centre (DWTC) tomorrow (Sunday), running through until 16 January.

EY, one of the largest professional services firms in the world, compiled their regional analysis, ‘Videonomics’, which pinpoints the growth in online revenues contributing to the current state of the digital market for MENA.

”Digital share of the video revenue pie is projected to rise from 9.6% in 2017 to 17.3% by 2021. Furthermore, teenagers and young adults, who make up the majority in the region, are entering the workforce and becoming paying consumers adding a significant boost to media spends. To capture a piece of this growth, content creators would be well served to focus on relevant genres for this youth audience, which may include sports, premium action or coming-of-age films,” said Ahmed Reda, MENA Telecommunications, Media and Technology Leader at EY.

Among the reasons, the report cites the large percentage of youths in the region, particularly those entering the workforce, as a catalyst for the growth.

Nripendra Singh, Director, Media and Entertainment, EY Africa, India and the Middle East says, “Digital video revenues and viewership are set to grow to by at least 22% annually till 2021 in the MENA region. To ride this new wave, content creators will need to focus on multi language offerings, partnerships across the video value chain, analytics and customer centricity.”

More than 13,000 regional and international industry are expected to attend CABSAT this year will have access to the exhibition floor, offering opportunities to test, use and experience the latest equipment in the broadcast, satellite communication, content delivery and electronic media industries, as well as explore the latest industry-tailored features lead by top experts in their sectors.

Trixie LohMirmand, Senior Vice President, Events & Exhibitions Management, DWTC said, “Local and international content producers and distributers have had to react to the influx of young adults entering the workforce, adapting to meet the needs of a new generation of consumer that now has purchasing power.”

“This has given rise to new and different genres, the introduction of new platforms for streaming and a strong demand for service providers to deliver better and more reliable packages to their customers. It’s the companies’ ability to adapt to these changing demands that have contributed to the growth of this sector in the region.”

Bringing together the latest innovations and developing trends in the delivery of global content, the GVF Satellite Summit, part of the Satellite Communications Conference, will host local and international experts spearheading positive change in the satellite industry. Among the speakers are Khaled Al Hashmi, Senior Director, Space Missions, Science & Technology Management, UAE Space Agency; and Yasir Hassan, Director, Transmission Operations, Arabsat, to name a few.

Sharing their insights during this year’s Content Congress, more than 60 speakers representing leading organisations such as Facebook, BBC, iflix, WWE, UTURN, Rotana Media Group, Viacom International Media Networks' (VIMN), Turner Broadcasting, Cote Ouest, Cairo News Company, Discovery Networks and FremantleMedia will deliver keynote addresses and take part in panel discussions.