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The Middle East movies and entertainment market size is estimated to grow at a CAGR of 4.72% between 2022 and 2027. The market size is forecast to increase by USD 660.48 million. The growth of the market depends on several factors, including the rising popularity of online video streaming services, rising internet and smartphone penetration, and the success of TV shows and movies.
This movies and entertainment market report extensively covers market segmentation by Product (music and videos and movies) and Type (digital media, print media, and streaming media). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rising popularity of online video streaming services is notably driving the market growth, although factors such as piracy issues and illegal downloading of movies, music, and videos may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising popularity of online video streaming services is notably driving the market growth. Online video streaming is one of the fastest-growing segments in the movie and entertainment industry. Video streaming service providers offer users different types of video content such as movies and TV series via the Internet without the need to download files. These service providers provide both premia as well as free services. The advent of online streaming service providers such as Netflix has led to a revolution in the market in focus.
Online streaming service-providing companies have witnessed a significant surge in the number of subscribers over the past few years. For instance, the revenue of Netflix was over USD 2.76 billion in the US in 2020. Moreover, during the COVID-19 pandemic, which encouraged the imposition of lockdown, the demand for OTT services witnessed rapid growth. For instance, in the second quarter of 2020, the number of Netflix subscribers increased by 10.2 million when compared to the first quarter of 2020. Such factors are expected to drive the growth of the market in focus during the forecast period.
Branding and promotion is a key trend shaping market growth. Promotion and branding is an age-old and successful marketing strategy is being used to increase traction in the movie and entertainment industry. It is considered one of the most influential marketing strategies to persuade an audience. If an endorser is one of the leading celebrities of that particular industry, it becomes easy for vendors to persuade customers. Countries in the region collaborate with famous film stars to promote the industry. For instance, in November 2022, Saudi Arabia awarded Indian actor, Shah Rukh Khan, in its Red Sea International Film Festival. Such a trend is likely to continue during the forecast period, which is expected to propel the market in focus during the forecast period.
Piracy issues and illegal downloading of movies, music, and videos may impede market growth.
Video piracy is a major threat to the market in focus, which is primarily attributed to torrent websites. Users can download any TV show, movie, documentary, or video through these torrent sites free of cost. Hence, this eliminates the need for users to subscribe to any online streaming service. The market in focus has the presence of several online video streaming platforms such as Netflix and Apple TV, which leads to the generation of a huge amount of exclusive content. As it is difficult for some users to get a subscription for all these services, torrents make it easier by offering single-source downloads for all this content. The content shared through torrents is also mostly ad-free, offering an advantage over advertisement-based video-on-demand streaming services. Owing to these advantages, many people prefer using torrents and do not subscribe to over-the-top (OTT) platforms. This, in turn, is likely to hamper the growth of the market in focus during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Movies and Entertainment Market in Middle East Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Amazon.com Inc. - The company offers movies and entertainment solutions through its online platform namely PrimeVideo.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the music segment will be significant during the forecast period. Growing internet penetration, increasing number of partnerships, and high rates of content consumption, including TV, streaming, video sharing are the major factors driving the growth of music and videos segment during the forecast period. Moreover, music industry conferences and events like XP Music Futures event are also contributing to the segment growth. This is intensifying the market competition. Thus, to maintain the consumer base and enlarge the market share, vendors are focusing on launching new and region-specific content. Moreover, several vendors such as Sony, are producing content in various forms, such as music videos, educational videos, and documentary videos.
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The music and videos segment was valued at USD 1,552 million in 2017 and continued to grow until 2021. Vendors such as Sony operating in the music segment of the market offer premium as well as free services. In premium services, vendors charge a nominal subscription fee for access to a full catalog of music and other features, such as no ads, customization, and personalized recommendations. Most companies like Netflix in the market offer free subscriptions for a specific trial period. To convert subscriptions from ad-supported services to premium services, companies largely depend on their abilities to provide innovative services, compelling content, superior functionality, and engaging user experience. All these factors are expected to drive the growth of the music and video segment, propelling the growth of music and entertainment market in Middle East during the forecast period.
The movies and entertainment market in Middle East report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the Middle East Movies and Entertainment Market as a part of the consumer discretionary market within the global leisure products market. The parent global application software market covers companies that are engaged in developing and producing application and system software. It also includes companies offering database management software. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Movies And Entertainment Market in Middle East Scope |
|
Report Coverage |
Details |
Page number |
135 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.72% |
Market growth 2023-2027 |
USD 660.48 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.5 |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abu Dhabi Media, Amazon.com Inc., Apple Inc., Arab Media Group LLC, beIN MEDIA GROUP, Epic Films FZ LLC, EyeMedia, FILMWORKS GROUP, Joy Films, Mazzika Group, MBC LLC, Netflix Inc., Orbit Showtime Network, Qudurat Media Co., Saluki Media FZ LLC, SilverGrey Pictures, Sony Group Corp., Syrup Global LLC, The Walt Disney Co., and Thomson Reuters Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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