Media - Western Asia

Western Asia

In Western Asia, revenue in the Media market is projected to reach US$23.29bn in 2024.
The largest market within this market in Western Asia is Games, which is expected to have a market volume of US$8.49bn in 2024.
In a global context, the highest revenue will be generated the United States, amounting to US$541.20bn in 2024.
Furthermore, it is anticipated that in the Media market, 37.82% of total revenues in Western Asia will be generated through digital Media market by 2029.
In Western Asia, particularly in countries like Saudi Arabia, there is a notable surge in digital media consumption driven by increasing internet penetration and shifting consumer preferences.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Media market in Western Asia is experiencing significant growth and development in recent years. Customer preferences in the Media market in Western Asia are shifting towards digital platforms and online streaming services. This is driven by the increasing availability of high-speed internet and the growing popularity of smartphones and other mobile devices. Consumers in Western Asia are increasingly seeking convenience and flexibility in their media consumption, and digital platforms and online streaming services provide them with the ability to access content anytime and anywhere. Trends in the market include the rise of local content production and the increasing demand for Arabic-language media. Western Asia has a rich cultural heritage and a diverse population, and there is a growing desire among consumers to see their own stories and experiences represented in the media they consume. This has led to an increase in the production of local content, including television shows, movies, and music. In addition, there is a strong demand for Arabic-language media, both domestically and among the large Arabic-speaking diaspora in Western Asia. This has created opportunities for media companies to cater to this demand and expand their offerings in the region. Local special circumstances in Western Asia also contribute to the development of the Media market. The region has a young and tech-savvy population, with a high percentage of internet users and smartphone penetration. This creates a favorable environment for the growth of digital media and online streaming services. In addition, Western Asia is home to several major media hubs, such as Dubai and Doha, which attract international media companies and talent. These hubs serve as a platform for the exchange of ideas, creativity, and innovation, further fueling the growth of the Media market in the region. Underlying macroeconomic factors also play a role in the development of the Media market in Western Asia. The region has experienced strong economic growth in recent years, driven by factors such as oil and gas production, tourism, and foreign investment. This has led to an increase in disposable income and consumer spending, which in turn has contributed to the growth of the Media market. Furthermore, governments in Western Asia are increasingly recognizing the importance of the media industry as a driver of economic growth and are implementing policies and initiatives to support its development. This includes the establishment of media free zones, tax incentives for media companies, and the promotion of cultural and creative industries. Overall, the Media market in Western Asia is experiencing growth and development due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards digital platforms and online streaming services, the rise of local content production, and the increasing demand for Arabic-language media are all contributing to the growth of the market. With favorable demographics, a supportive business environment, and strong economic growth, the Media market in Western Asia is poised for further expansion in the coming years.

Methodology

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.