Key regions: United States, China, Japan, United Kingdom, Germany
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.
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