Media

In the GCC, revenue in the Media market is projected to reach US$10.56bn in 2024.
The largest market within this market in the GCC is Games, which is expected to have a market volume of US$3.67bn in 2024.
In a global context, the majority of revenue will be generated the United States, amounting to US$541.20bn in 2024.
Furthermore, within the Media market in the GCC, it is anticipated that 41.18% of total revenues will be generated through digital Media market by 2029.
The GCC media market is increasingly embracing digital transformation, with regional players prioritizing innovative content delivery to enhance viewer engagement and loyalty.

Definition:

The media market encompasses a diverse array of platforms and channels that facilitate the creation, distribution, and consumption of content, such as news, entertainment, and information. It includes traditional outlets like television, radio, and print publications, as well as digital platforms like social media, streaming services, and online news websites. This market plays a central role in shaping public discourse, cultural trends, and the dissemination of information on a global scale, making it a critical component of modern society.

Structure:

The market consists of several parts, namely Books, Games, Music, Radio & Podcasts, Newspapers & Magazines and TV & Video. These markets encompass digital and traditional revenues.

Additional Information:

The market comprises revenues, users, average revenue per user, penetration rates and advertising spendings. Revenues are generated through purchases, subscriptions, consumer spending or ad spendings. Key players of the market are companies, such as Netflix, Spotify, Activision or Amazon.
Market numbers for all the digital markets can also be found in the Digital Media topic.

Traditional media with non-digital revenues from TV, radio, music, print, and video games
Digital media with digital revenues from OTT video, music streaming, video games, digital versions of Newspapers & Magazines with ePapers & eMagazines, and eBooks

Movie theater ticket sales
Public licence fees collected in form of a tax (e.g. income tax in the Nordic countries)
Demo/trial versions
Esports & gaming advertising revenues

The Media market in GCC has been experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this positive trajectory. Customer preferences in the Media market in GCC have shifted towards digital platforms and content consumption. With the increasing availability of high-speed internet and the proliferation of smartphones, consumers in the region are now more inclined to access media content through online platforms. This shift in preference has led to a surge in demand for digital media services such as streaming platforms, online news outlets, and social media channels. Trends in the market indicate a growing emphasis on local content production and regional collaborations. GCC countries have recognized the importance of promoting their own cultural identity and have invested in the development of local media content. This has resulted in the emergence of successful local production houses and the creation of content that resonates with the regional audience. Additionally, there has been a rise in collaborations between media companies in the GCC, leading to the exchange of expertise and resources, and the production of high-quality content. Local special circumstances, such as language preferences and cultural sensitivities, have also influenced the development of the Media market in GCC. Arabic is the primary language spoken in the region, and media companies have recognized the importance of catering to the local audience by providing content in Arabic. Furthermore, cultural sensitivities have shaped the type of content that is produced and consumed in the region, with a focus on family-friendly programming and content that aligns with Islamic values. Underlying macroeconomic factors have played a significant role in the growth of the Media market in GCC. The region's strong economic performance, driven by industries such as oil and gas, has resulted in increased disposable income among consumers. This has translated into higher spending on media and entertainment, creating a favorable environment for the growth of the market. Additionally, favorable government policies and initiatives aimed at diversifying the economy have attracted foreign investments in the media sector, further fueling its growth. In conclusion, the Media market in GCC has experienced remarkable growth due to shifting customer preferences towards digital platforms, trends in local content production and regional collaborations, local special circumstances such as language preferences and cultural sensitivities, and underlying macroeconomic factors. These factors have created a conducive environment for the development of the media industry in the region, and the market is expected to continue its upward trajectory in the coming years.

Data coverage:

The data encompasses B2C enterprises. Figures are based on media spending (on traditional media as well as digital media). All monetary figures refer to consumer spending on digital goods or subscriptions in the respective segment. This spending factors in discounts, margins, and taxes.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Online video streaming has visibly transformed the global media landscape and impacted viewing behavior around the world. Driven by rapid leaps in internet adoption, widespread availability of mobile devices, and the ever-increasing popularity of online video content, the global video streaming market has experienced unprecedented growth in the last decade. In 2023, the over-the-top (OTT) video revenue reached an estimated 288 billion U.S. dollars, with the United States accounting for the largest share of revenue worldwide. Considering that the list of international streaming services and the catalog of online video content continue to expand at a rapid pace, the number of OTT users worldwide is expected to reach new heights in the future.