Middle East Movies & Entertainment Industry Overview
The Middle East movies and entertainment market size was valued at USD 1.86 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 8.5% from 2021 to 2028.The market is anticipated to be driven by the increasing popularity of 3D movies that give the audience an experience of Virtual Reality (VR). The introduction of new marketing and distribution platforms such as IPTV, digital newspapers, DTH, and digital cable, as well as the online sales of music and movies, is anticipated to boost industry progress. Major players have adopted strategies like regional expansions and distribution partnerships to venture into untapped markets. A number of these players have now been focusing on the production of regional content to establish a strong connection with the audience in these markets.
The trend of diversifying content for cinema and television creations is gaining much traction in the market. Competitors are looking beyond traditional mediums to establish stronger connections with the audiences. Rising demand for regionalization also provides a broad range of themes and genres for filmmakers. Larger studios have been investing in and adopting enhanced promotional and marketing strategies that use advanced digital technology for communication. A rapid increase in the streaming of music, movies, and television series has created new opportunities for players to expand their business. The emergence of official online streaming service providers and channels is anticipated to prevent the losses incurred by artists and producers.
Gather more insights about the market drivers, restraints and growth of the Middle East Movies & Entertainment market
However, revenue generation in the media and entertainment (M&E) industry is restricted to a certain extent due to high piracy rates and lower profit margins through online streaming. However, developments in cybersecurity laws and tightening legal actions against piracy are expected to reduce the losses for the players. This is also likely to encourage new players to enter the online streaming business.
Easy access to an evolving and increasingly varied audience through platforms such as TV and internet streaming has also encouraged new talents to come up. Increased adoption of mobile communication and the internet in countries such as China, South Korea, and India drives the progress of movies and entertainment in emerging markets. The lucrativeness of these emerging markets is further driven by the stagnation in mature markets such as the U.S.
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Middle East Movies & Entertainment Industry Segmentation
Grand View Research has segmented the Middle East movies and entertainment market based on product and country:
Middle East Movies & Entertainment Product Outlook (Revenue, USD Million, 2016 - 2028)
- Movies
- Music & Videos
Middle East Movies & Entertainment Country Outlook (Revenue, USD Million, 2016 - 2028)
- Saudi Arabia
- UAE
- Kuwait
- Bahrain
- Qatar
- Oman
- Others
Market Share Insights:
- May 2020: beIN SPORTS announced the launch of a standout new beINSPIRED podcast that celebrates trailblazing female athletes, all of whom have paved the way for present and future female athletes to keep breaking barriers.
- April 2020: beIN Media Group, LLC launched a new cinema service that offers the latest international movies.
Key Companies profiled:
Some prominent players in the Middle East Movies & Entertainment Industry include
- beIN Media Group, LLC
- Sony Entertainment, Inc.
- The Walt Disney Company
- All Over Group
- Netflix, Inc.
- SilverGrey
- The Idea Factory
- MBC Group
- com, Inc.
- Mazzika Group
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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