Market Trends of Middle East Media And Entertainment Industry
Internet Access Segment to Hold Major Market Share
- The Middle Eastern media and entertainment market is witnessing significant growth due to increased internet access in the region. Though the market is experiencing growth, it is nascent compared to other areas worldwide.
- The region is witnessing a growing adoption of the Internet and smartphones, fueling online activities among users. The region is well ahead of its regional counterparts in adopting digital solutions. Owing to amplified convenience and faster payment settlements, e-commerce vendors are keen on adding more digital wallet selections for consumers.
- Mobile devices, such as smartphones and tablets, are the primary means of accessing the Internet in the Middle East. The widespread adoption of mobile technology makes social media accessible to a more significant portion of the population, increasing internet usage and user engagement. According to Ericsson, smartphone subscriptions in the Middle East and North Africa are poised to reach nearly 797 million by 2028. In 2023, there were 597 million smartphone subscriptions in the Middle East and North Africa.
- Government initiatives to increase internet connectivity are boosting the region’s media and entertainment market. For instance, Crown Prince Mohammad bin Salman mandated Vision 2030, the long-term model for the ambitious and progressive development of Saudi Arabia.
Understand The Key Trends Shaping This Market
Download PDF
Saudi Arabia to Witness Significant Growth
- Media consumption across Saudi Arabia is progressively happening in digital formats. The upsurge in the number of devices proficient in supporting digital media and OTT platforms, in addition to the cumulative rapidity of internet access, has allowed users to admit content of their choice. Media consumption has exposed a tremendous upsurge and suggestively jumped from conventional to digital media. The increase in digital media and OTT players such as Amazon, Netflix, and Integral drives the market's development.
- The OTT platform Netflix has experienced a substantial intensification in its streaming speed. According to Netflix's statistics, in October 2023, around 98% of internet service providers remained the same or came down to 0.2 Mbps because of bitrate encoding competencies on the Netflix ISP Speed Index. The company's monthly update is on which ISPs offer Netflix a superior prime-time streaming experience.
- As the propensity to watch movies through OTT platforms increases, users try to get a natural feel of movies through home theatre and other audio systems, boosting the market in the coming years. Internet penetration has been a disruptive force that impacts digital media distribution and consumption channels. The country's data consumption has risen with better network coverage and advanced communication technologies (3G, 4G / LTE).
- Internet access in the region has been snowballing rapidly because of much better-quality information communications technology infrastructure and a drop in mobile data costs. Social media has come to play a determining role in the speedily transforming Saudi society. Saudi Arabia is a social media powerhouse, and it is one of the world's major national markets for TikTok, YouTube, and Snapchat. The worldwide rise in social media amounts to significant growth, and Saudi Arabia heads the race among other nations with an exponential annual noteworthy development.
Get Analysis on Important Geographic Markets
Download PDF
