Page 70 - SAMENA Trends - May-June 2024

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

MENA Streaming Revenue to Reach US$1.2 Billion at End of 2024

Total streaming revenues in the MENA region exceeded $1bn Arabic content, “which resonates deeply with regional audiences,
in 2023 and are predicted to rise by a further 13% to more than especially during Ramadan,” is key in drawing subscribers to
$1.2bn by the end of this year, according to new research from the service, says Omdia. The holy month of Ramadan remains a
media analysts Omdia. Local operators Shahid and StarzPlay are peak period for engagement with drama providers in the region.
leading streaming growth with the bulk of the market share, says Platforms like ADTV and Watch IT saw significant popularity during
the report. Shahid, which is part of MBC, leads the MENA streaming 2023, catering to the region’s demand for drama content during
video market with 22% of the market share, amounting to 3.6 million this time. StarzPlay follows closely behind Shahid with an 18%
subscribers by the end of 2023. An extensive offering of local market share and 3 million subscribers. Omdia said that StarzPlay
has “successfully identified and filled content gaps in the region,
bolstering its competitive edge.” Driving growth for the service is
the streaming of exclusive content, with standouts including AMC
acquisition The Walking Dead: Dead City, and sports coverage, with
StarzPlay having secured exclusive rights to events such as the
Cricket Asia Cup in September 2023 and the Six Nations in March
2024. StarzPlay has also found success with the launch of its AVOD
& FAST service, Starz On, which had its soft debut in November
2023, before launching in full in March. The service features 50
FAST and linear channels, with plans to expand the content offering
to more than 25,000 hours and over 100 channels this year.
Speaking at Cabsat 2024 in Dubai last week, Maria Rua Aguete,
Senior Director of Media and Entertainment at Omdia, highlighted
the region’s significant growth potential. “MENA is a growth area
with huge potential. The top three players – Shahid, StarzPlay,
and Netflix – each have unique strategies and complementary
offerings. In the advertising space, FAST is currently low in this
region, but we expect significant growth over the next four years,
with global players like Samsung entering the market.”

Saudi Arabia Participates in the United Nations Committee on the Peaceful

Uses of Outer Space (COPUS)

Represented by the Communications, Space, and Technology conducting 14 pioneering educational experiments and researches.
Commission (CST) and the Saudi Space Agency (SSA), Saudi Arabia Along with showcasing the developments of the Saudi Space
participated in the 67th session of the United Nations Committee sector’s regulatory framework and governance. During the meeting
on the Peaceful Uses of Outer Space (COPUOS), held in Vienna, many topics and visions were discussed, aimed at strengthening
Austria, from June 19 to 28, 2024. The participation indicates the international partnerships to support space activities, promoting
Kingdom's commitment to promoting international collaboration, the Kingdom's endeavors to develop the sector and stimulating
realizing the peaceful and sustainable utilization of outer space, research and innovation in this field. This participation affirms
and highlighting its efforts in this vital sector. The participating the Kingdom’s dedication to enhancing international collaborative
delegation held the “Saudi Towards Space: Igniting the Space efforts to ensure the peaceful and sustainable use of outer space.
Sector” meeting, which was attended by over 80 leaders and
specialists of the sector to discuss collaborative opportunities that
will elevate the international space industry towards new horizons.
The delegation showcased the Saudi Space sector progress, which
was made possible through the country's leadership support, along
with the Kingdom’s strides in promoting sustainability through
many active initiatives including the organization of the Space
Debris Conference, and its constant presence in international
forums which reflect its commitment in achieving the peaceful
use of outer space according to international principles. Space
exploration was also discussed, with Saudi Arabia highlighting it
mission towards space which achieved many successes such as;

70 MAY-JUNE 2024