Deloittes recent TMT Predictions 2015 highlight real growth opportunities for content creators across the MENA region, focusing particularly on short-form content and Digital Islamic Services. In line with this, Mohammad Abdullah, Managing Director of TECOMs Media Cluster has called for content creators to join TECOM Investments Media Cluster, which comprises Dubai Media City, Dubai Studio […]
Deloittes recent TMT Predictions 2015 highlight real growth opportunities for content creators across the MENA region, focusing particularly on short-form content and Digital Islamic Services. In line with this, Mohammad Abdullah, Managing Director of TECOMs Media Cluster has called for content creators to join TECOM Investments Media Cluster, which comprises Dubai Media City, Dubai Studio City and International Media Production Zone to enable their further development and growth.
2015 is predicted to be the first-billion unit year for the global smartphone sector, which will drive the growth of short-form videos, a sector that is expected to generate $5 billion in revenues worldwide. While this is still a small figure in comparison to long-form content, which is expected to generate over $400 billion from advertising and subscription revenues alone, this represents a significant growth opportunity, particularly given the insatiable appetite for online, short-form content in the Middle East. The region is YouTubes second largest market worldwide, second only to the US, with the top channels generating over 10 billion views per month.
Digital Islamic Services, which includes any technology or media online product or service that addresses the needs of consumers in the Islamic economy, will also be a strong area of growth over the next few years. Deloitte predicts that the regions Digital Islamic Economy will nearly double in size in terms of Muslim consumer spend on lifestyle products and services, to reach $30 billion by 2018. Muslim consumers represent one of the most powerful consumer groups in the world, and the Middle East, with the highest share of consumer spend, some of the fastest rates of technology development and adoption, and desire to lead the world in Islamic Economy development, has created an ideal environment for the growth of the Digital Islamic Economy, with provision of ripe opportunities for content creators in this space.
Commenting, Mohammad Abdullah, said: The environment for content creators has never been as competitive as it is today, with consumers able to access almost unlimited amounts of content on their smartphones, and it is important that creators of content are given the right support and market for their output and to fill a niche.
With large industry players adopting the short-form video format, whose new ventures we continue to support, it is more important now than ever that creators of online content are given the right support and environment to operate. We continue to encourage creators of content from around the world to join our business communities, and ensure that creativity and competition is nurtured across the industry.
We have long supported Deloittes Middle East TMT predictions as they contain many valuable insights that serve as a guide for the media industry and, as evidenced by their predictions, there are real growth opportunities within particular areas of the media sector.