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Middle East Movies & Entertainment Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The Middle East movies and entertainment products market was valued at USD 5.2 billion in 2022 and is anticipated to expand at a CAGR of 5.8% over the forecast period. The market is driven by factors such as the growing demand for OTT platforms, increasing adoption of virtual reality content, and surging disposable incomes. Additionally, a rise in the number of internet users and the increasing popularity of digital content are further propelling the market growth.
The growing demand for OTT platforms is a major factor driving the market. The emergence of streaming services, such as Netflix and Amazon Prime, is providing consumers with a wide range of options for entertainment. Moreover, the rising usage of smartphones and the availability of high-speed internet is further boosting the demand for these platforms. Furthermore, the OTT platforms are providing consumers with an extensive range of content, such as films, television shows, and music videos.
The increasing demand for virtual reality (VR) content is also propelling the market growth. The rise in the availability of VR headsets, such as Oculus Rift, PlayStation VR, and HTC Vive, is providing an immersive experience to the users. Furthermore, the growing popularity of VR gaming is driving the demand for these products. Additionally, the rising number of films and television shows in the VR format is further boosting the market growth.
The rising popularity of digital content is also driving the market. Digital content, such as films, television shows, and music videos, is gaining popularity among the youth. Moreover, the increasing demand for streaming services is further driving the market growth. Furthermore, the availability of content on various platforms, such as YouTube and Netflix, is further boosting the demand for digital content.
Moreover, the increasing disposable incomes is also propelling the market growth. The rising disposable incomes in the region have enabled consumers to spend more on entertainment. The rising disposable incomes have also enabled consumers to purchase expensive entertainment products, such as gaming consoles, virtual reality headsets, and others. Additionally, the rising popularity of cinemas and multiplexes is further driving the market growth.
Product Insights
The streaming segment led the market and accounted for a share of around 36.2% in 2022. The increasing penetration of internet and the growing demand for content consumption on digital platforms have been driving the demand for streaming services across the Middle East. Additionally, the rapid proliferation of smartphones and other portable devices has enabled several regional players to enter the market with a range of streaming services, further driving the market growth.
The home video segment is expected to expand at the fastest CAGR of 10.3% over the forecast period. The increasing popularity of the home video market across the Middle East is due to the rising demand for content consumption from the comfort of the home. Moreover, the availability of a wide range of content on DVDs, Blu-ray discs, and other physical media is another factor driving the home video market growth. Furthermore, the rising trend of binge-watching among consumers is another factor driving the growth of the market.
Distribution Channel Insights
The cinema/theater segment is expected to remain the leading distribution channel in the Middle East Movies & Entertainment market. The presence of multiplexes and theaters, especially in the densely populated areas, has been a major factor contributing to the growth of this segment. According to a report by the World Bank in 2019, the GCC countries have the highest concentration of multiplexes and movie theaters across the Middle East. Moreover, the presence of multiplexes with advanced technologies such as 3D and IMAX, coupled with the introduction of digital media, has increased the popularity of movie theaters.
The online segment is anticipated to record the fastest CAGR of 6.3% over the forecast period. The increasing penetration of smartphones and the growing popularity of digital streaming services such as Netflix and Amazon Prime Video are expected to drive the growth of the segment. The availability of digital streaming services enables the consumers to access a wide variety of movies, TV shows, and other entertainment content at the comfort of their homes. Moreover, the introduction of various promotional offers by digital streaming services has further driven the demand for online streaming.
Type Insights
The box office segment accounted for the largest revenue share of 46.0% in the year 2022. The rising preference for watching movies in theatres is driving the segment growth. The increasing presence of multiplexes and multiplex chains in the Middle East region is further propelling the demand for box office movies. For instance, in March 2021, Cinépolis, a Mexican movie theatre chain, announced its plans to open a multiplex in Dubai, United Arab Emirates. Moreover, the increasing digitization of the box office business is further propelling the segment growth.
The streaming segment is anticipated to expand at the highest CAGR of 15.1% over the forecast period. The increasing penetration of digital platforms such as Netflix and Amazon Prime Video in the Middle East region is driving the segment growth. Additionally, the increasing trend of watching movies online is driving the demand for streaming services. The growing trend of binge-watching shows and movies is increasing the viewership of streaming platforms, which is further propelling the segment growth. Moreover, the increasing investments in the production of regional content is further driving the segment growth.
Regional Insights
The Middle East is expected to experience the fastest growth in the coming years due to the increasing disposable income and the rising acceptance of streaming services. Moreover, the region is witnessing a transition from traditional cinema to digital platforms and is expected to create lucrative opportunities for the market players in the coming years. In addition, the growing demand for Arabic-language content is driving the growth of the Middle East movies & entertainment market. For instance, Netflix launched its services in the region in 2019 and has since been offering a wide range of Arabic content, such as ‘Jinn’, ‘Paranormal’, and ‘Al Rawabi School for Girls’.
In 2021, the UAE accounted for the largest market share in the Middle East movies & entertainment market, due to the presence of several prominent streaming services, such as Starz Play, Icflix, and OSN. Moreover, the increasing number of movie theatres across the region is further expected to drive the market growth in the coming years. For instance, in March 2021, Vox Cinemas opened a new theatre in City Centre Sharjah, which offers a range of entertainment options to the customers.
Financial Projections
In this part of the Middle East Movies & Entertainment Products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These projections include cash flow projections and capital requirements for your venture. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a Middle East Movies & Entertainment Products business comes from the sales of DVDs, Blu-rays, digital downloads, streaming services, live events, and merchandise. Here you will find a list with a description of each of them and other possible sources of profit such as advertising, subscription fees, and sponsorships.
Projecting Expenses
In this section, all the regular expenses related to keeping the Middle East Movies & Entertainment Products business running will be described. The list of operating expenses includes licensing fees, wages, advertising and marketing, delivery and shipping costs, insurance policies, maintenance and repairs, utilities, and others.
Key companies & market share insights
Some of the key companies operating in the Middle East Movies & Entertainment market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In October 2022, Emirates National Bank of Dubai (NBD) and Abu Dhabi-based Image Nation Abu Dhabi signed a three-year multi-million-dollar deal to co-produce a full slate of feature films and television series.
– In November 2022, Al Jazeera launched its streaming service, Al Jazeera Play, which offers a catalog of films, TV series, and documentaries from around the Middle East and the world.
– In December 2022, the Dubai-based production house, Filmworks Entertainment, launched a new series of films and documentaries that focus on the Middle East.
Some of the prominent players in the Middle East movies & entertainment market include:
– Emirates National Bank of Dubai (NBD)
– Image Nation Abu Dhabi
– Al Jazeera
– Filmworks Entertainment
– Rotana Media Group
– MBC Group
– OSN
– Abu Dhabi Media
– Saudi Broadcasting Corporation
– beIN Media Group
Global Middle East Movies & Entertainment Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global men’s grooming products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Movies
– Music
– Television & Radio
– Gaming
– Online Streaming
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Cinema
– Online
– Physical Stores
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Paid
– Free
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– Middle East
– Africa
– Europe
– Asia Pacific
– Central & South America
– North America
Frequently Asked Questions
[Q]: What are the Key Trends Driving the Global Middle East Movies & Entertainment Products Market?
[A]: The global Middle East movies & entertainment products market is driven by the increasing demand for Arabic and Bollywood movies, growing popularity of streaming services, rising disposable incomes, and changing consumer preferences. The trends such as the increase in demand for VOD services, rising prevalence of online streaming platforms, and growing popularity of mobile internet services are further contributing to the growth of the market.
[Q]: Who are the Leading Players in the Middle East Movies & Entertainment Products Market?
[A]: Leading players in the Middle East movies & entertainment products market include Apple Inc., Amazon.com Inc., Netflix, Inc., ViacomCBS Inc., and Walt Disney Company.
[Q]: What is the Potential for Growth in the Middle East Movies & Entertainment Products Market?
[A]: The global Middle East movies & entertainment products market is estimated to reach USD $41.1 billion by 2027, with a CAGR of 8.2% over the forecast period 2021-2027.
[Q]: What Factors are Restraining the Middle East Movies & Entertainment Products Market?
[A]: Factors such as piracy, limited availability of content, and the high cost of subscription are expected to act as restraint for the Middle East movies & entertainment products market.
[Q]: What are the Opportunities in the Middle East Movies & Entertainment Products Market?
[A]: Opportunities in the Middle East movies & entertainment products market include increasing adoption of AR/VR technology, growing use of AI & ML in content delivery, and increasing investments in regional content.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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