Key regions: China, South Korea, Asia, France, United Kingdom
The TV & Video market in GCC has witnessed significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the TV & Video market in GCC have shifted towards on-demand and streaming services, as consumers seek greater convenience and flexibility in their viewing habits.
This trend is in line with global market trends, as viewers increasingly prefer to watch content at their own convenience, rather than being tied to traditional broadcast schedules. Additionally, there is a growing demand for high-quality content, including original productions and exclusive rights to popular TV shows and movies. Trends in the market indicate a strong growth potential for streaming services in the GCC region.
With the increasing availability of high-speed internet and the proliferation of smartphones and smart TVs, consumers are embracing streaming platforms such as Netflix and Amazon Prime Video. This trend is expected to continue as more players enter the market and offer localized content to cater to the diverse preferences of GCC consumers. Furthermore, the COVID-19 pandemic has accelerated the adoption of streaming services, as people spend more time at home and seek entertainment options.
Local special circumstances also play a role in the development of the TV & Video market in GCC. The region has a young and tech-savvy population, who are early adopters of new technologies and platforms. This demographic factor, coupled with the high disposable income in the GCC countries, has created a favorable environment for the growth of the TV & Video market.
Additionally, the GCC countries have been investing heavily in infrastructure development, including the expansion of broadband networks, which has further facilitated the growth of streaming services. Underlying macroeconomic factors also contribute to the development of the TV & Video market in GCC. The region's strong economic growth, driven by sectors such as oil and gas, has resulted in increased consumer spending power.
This has translated into higher demand for premium TV and video content, as consumers are willing to pay for quality entertainment. Furthermore, the GCC governments have been supportive of the media and entertainment industry, implementing policies to attract foreign investment and promote local content production. In conclusion, the TV & Video market in GCC is experiencing significant growth, driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.
The shift towards on-demand and streaming services, coupled with the region's young and tech-savvy population, is fueling the growth of the market. With the continued investment in infrastructure and the availability of high-quality content, the TV & Video market in GCC is expected to continue its upward trajectory in the coming years.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Traditional TV & Home Video and OTT (over-the-top) Services. 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 / Segment size:
The segment size is determined through a bottom-up approach. 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) to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant segment. For instance, 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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