Online Video Revenues to Grow Over 22% Annually Until 2021 EY Report

Business

Online Video Revenues to Grow Over 22% Annually Until 2021 EY Report

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

That's the leading line from an EY report appointed by the Dubai World Trade Centre released 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 till 16 January.

EY, among the largest expert services companies worldwide, compiled their regional analysis, 'Videonomics', which identifies the growth in online profits contributing to the current state of the digital market for MENA.

" Digital share of the video clip revenue pie is forecasted to climb from 9.6% in 2017 to 17.3% by 2021. Additionally, teens and young people, who comprise the bulk in the region, are getting in the labor force and becoming paying customers including a considerable increase to media invests. To capture a piece of this growth, web content developers would certainly be well served to concentrate on pertinent categories for this youth audience, which could consist of sports, premium activity or coming-of-age movies," claimed Ahmed Reda, MENA Telecom, Media and Modern Technology Leader at EY.

Among the reasons, the record points out the big portion of young people in the region, particularly those going into the labor force, as a catalyst for the development.

Nripendra Singh, Director, Media and Amusement, EY Africa, India and the Middle East sai, "Digital video profits and viewership are set to expand to by a minimum of 22% every year till 2021 in the MENA region. To ride this new wave, web content developers will need to concentrate on multi language offerings, partnerships throughout the video worth chain, analytics and client centricity."

Greater than 13,000 regional and international industry are expected to go to CABSAT this year will certainly have accessibility to the exhibition floor, providing possibilities to examine, use and experience the most up to date tools in the broadcast, satellite communication, material distribution and electronic media sectors, in addition to discover the current industry-tailored attributes lead by top professionals in their markets.

Trixie LohMirmand, Senior Vice President, Events & Exhibitions Management, DWTC said, "Local and global content manufacturers and distributers have had to respond to the increase of young adults entering the workforce, adjusting to meet the needs of a brand-new generation of customer that now has purchasing power."

" This has given rise to new and different categories, the introduction of new systems for streaming and a solid demand for service providers to supply far better and extra trustworthy plans to their customers. It's the business' capacity to adapt to these altering needs that have actually added to the development of this industry in the region."

Uniting the latest innovations and establishing trends in the shipment of global content, the GVF Satellite Summit, part of the Satellite Communications Conference, will host local and global professionals spearheading positive adjustment in the satellite industry. Amongst the speakers are Khaled Al Hashmi, Senior Director, Area Missions, Scientific Research & Innovation Management, UAE Area Company; and Yasir Hassan, Director, Transmission Procedures, Arabsat, to name a few.

Sharing their insights during this year's Material Congress, more than 60 speakers standing for leading organisations such as Facebook, BBC, iflix, WWE, UTURN, Rotana Media Group, Viacom International Media Networks' (VIMN), Turner Broadcasting, Cote Ouest, Cairo Information Company, Exploration Networks and FremantleMedia will supply keynote addresses and participate in panel discussions.

CABSAT 2018 is open from 10am to 6pm on Sunday 14 and Monday 15 January, and 10am to 5pm on Thursday 16 January, with free entry to business and trade visitors only. Go to www.cabsat.com to discover more.

Caption: The 24th version of CABSAT will range from 14-16 January 2018 at the DWTC