Middle East Media & Entertainment Market Growth, Trends and Forecasts 2021-2026 Report – ResearchAndMarkets.com

DUBLIN – (COMMERCIAL THREAD)–The “Middle East Media and Entertainment Market – Growth, Trends, Impact of COVID-19 and Forecast (2021 – 2026)” the report was added to ResearchAndMarkets.com offer.

The Middle East media and entertainment market was valued at $ 35.11 billion in 2020 and is expected to reach $ 69.83 billion by 2026 and grow at a CAGR of 12.79% during the forecast period (2021 – 2026).

Growing trends in personalization and increased digitization, significant growth in online games, OTT and internet advertising are some of the major growth factors of the market. The use of social media is growing across Saudi Arabia, a trend that is appealing to brands, agencies and media companies for advertisements.

The market has also seen significant changes over the past two years. One of the most important steps was the opening of the cinema market in Saudi Arabia. With the growing demand for leisure and entertainment in the region, the country’s media and entertainment industry is expected to register tremendous growth in the coming years.

In addition, the television sector in the region is also in transition. The market until now dominated by free-to-air broadcasting (DTH) is increasingly populated by new players in pay TV and OTT. GCC countries are investing more and more in upgrading technology due to broadband initiatives from various countries to support OTT videos. A growing number of broadcast networks such as Starz Play, icflix, Istikana and Netflix, operating globally and locally, offer subscription VOD services to viewers in the region.

During lockdown, the media and entertainment industries thrive in the digital space. Changes are being implemented by film distributors to remedy the difficulty of releasing films in theaters. One solution is to use transactional video-on-demand platforms for new releases. Likewise, the consumption of music, video, games and other forms of entertainment has increased during the lock-out period and may change the mode of operation permanently.

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