Latest news with #Mena
Khaleej Times
14 hours ago
- Business
- Khaleej Times
UAE live streaming market set to surge to $3.4 billion by 2030, report says
Heads up, UAE content creators: Take advantage of the live streaming segment as it is expected to grow in the country from $1.9 billion to $3.4 billion by 2030. Overall across the Mena region, the industry is projected to reach $17.8 billion by 2030, according to TikTok's newly released report. Yahya Munir, TikTok Live trust & experience manager for Mena, highlighted the opportunity in livestreaming market that is currently valued at $8.1 billion across the Mena region. 'It is fast becoming a cornerstone of the digital economy, driving job creation, entrepreneurship, and creative industry growth across the region,' he said in a statement sent to Khaleej Times on Friday. TikTok, which was released in September 2016, underlined: 'The UAE can attract talent, amplify local stories, and cement its role as a leader in the global livestreaming economy. Munir explained: 'Livestreaming is redefining how content is created, consumed, and monetised across Mena. This is no longer just a creator trend – it's a fast-growing economic force that is unlocking opportunities for creators, brands, and communities alike.' According TikTok's 'Future of Entertainment' report – done in collaboration with consulting firm Kearney – more than 10 million people across Mena have livestreamed at least once. 'This proves the format's accessibility and surging popularity.' 115,000 go live daily In the UAE, around 115,000 social media users are estimated to go live daily on (various) livestreaming platforms — 'producing content that ranges from entertainment and educational topics to emerging lifestyle and niche formats.' 'These creators are empowered by TikTok's various resources and features that educate creators on how to utilise TikTok LIVE, the different offerings and monetisation opportunities, helping them professionalise and scale their reach,' TikTok noted, adding: 'The UAE is well-positioned to become a regional hub for livestreaming, thanks to its strong infrastructure, progressive regulation, and national focus on digital growth.' The UAE's Digital Economy Strategy actually aims for the country 's tech sector to constitute 20 per cent of overall GDP by 2031 — a benchmark that, if attained, would position the UAE as a regional and global leader in technology. The UAE Centennial Plan 2071, meanwhile, includes long-term goals for creating a knowledge-based economy driven by technology and digital transformation. The key, TikTok noted, is a 'combination of real-time interactivity, creator-driven production, and direct audience engagement' to reshape media consumption patterns and offer new avenues for commercial brands. Here are the other key findings of TikTok's 'Future of Entertainment' report: Mena creators produce a variety of content tailored to audience preferences, ranging from global trends to region-specific offerings. Gaming remains a global powerhouse, with platforms such as Twitch driving this preference, while interactive discussions, which can revolve around an immense range of topics and genres including comedic entertainment, serious debates, open forums, and informative lectures, have gained widespread popularity Educational content, including live tutorials and workshops, appeals to knowledge-seeking audiences, while live commerce merges entertainment and shopping to create interactive product demonstrations. Music and dance performances also feature prominently. Religious livestreams, including Quran recitations, discussions on Islamic teachings, and interactive faith-based content, have attracted a distinct audience. There is a notable growth in categories such as cooking, fitness coaching, and highly specific hobbies. The Mena region currently has more than 700 agencies, representing a relatively underdeveloped industry compared to China, where some 80 percent of creators who livestream daily are affiliated with agencies. Mena has only around 10 per cent of creators who livestream daily work with agencies – this highlights the opportunity to scale up agency involvement. Agencies are emerging as important enablers that provide training, tools, and infrastructure to help creators enhance content and build sustainable careers. A typical agency employs 15 to 20 people and manages anywhere from 200 to 500 creators. Larger agencies can have 100 or more employees, overseeing the careers of 5,000 or more creators. Agencies in Mena manage creators spread across different countries and maintain offices in multiple countries to support their diverse creator base.
Khaleej Times
2 days ago
- Business
- Khaleej Times
UAE remains top target country for Mena M&As in first quarter
The UAE remained the top target country in terms mergers and acquisitions (M&A) within the Middle East and North Africa (Mena) region in the first quarter of this year, with 63 deals totaling $20.3 billion in Q1 2025 data showed. According to the latest EY Mena M&A Insights 2024 report, Kuwait ranked second in terms of deal proceeds, reaching $2.3 billion, driven by two major transactions in the Diversified Industrial Products and Power & Utilities sectors. The Mena region witnessed 225 M&A deals in Q1 2025, up from the 172 deals recorded in Q1 2024, reflecting a 31 per cent increase in deal volume when compared year-on-year. Total deal value rose by 66 per cent to $46 billion in Q1 2025, when compared to $27.6 billion in Q1 2024. Cross-border deals were the primary driver of M&A activity in the Mena region, contributing 52 per cent of total deal volume with 117 deals and 81 per cent of total deal value at $37.3b. The first quarter of 2025 recorded the highest cross-border deal activity both in volume and value when compared to the same period in the past five years, as companies increasingly pursued growth and diversification beyond domestic markets. Brad Watson, Mena EY-Parthenon Leader, said: 'In 2024 we saw a steady flow of M&A deals and the Mena region continues to exhibit a robust influx of M&A transactions in 2025. This is supported by regulatory reforms, policy shifts, and a favorable macroeconomic outlook, including easing interest rates and improved investor sentiment. This growth is also reflected in the steady increase of domestic M&A activity, which contributed 48 per cent of total deal volume in Q1 2025. The rise in domestic M&A transactions aligns with the IMF projection that Mena GDP will grow by 3.6 per cent this year and is further supported by the strong global M&A momentum. Companies are realigning their strategies to better accommodate the need for diversification, digital transformation, and the integration of emerging technologies.' During the first three months of 2025, Canada attracted the highest outbound deal value from Mena investors at $6.4 billion, while the USA remained the preferred target destination in terms of deal volume. Sovereign Wealth Funds (SWFs) like the Abu Dhabi Investment Authority, Saudi Arabia's Public Investment Fund and Mubadala, along with other government-related entities (GREs), remained key M&A drivers in Q1 2025, aligning with national economic strategies and diversification goals. Domestic M&A activity continues to rise from previous years In the first quarter of 2025, M&A activity in the Mena region witnessed a 20 per cent increase in deal volume while deal value rose significantly reaching $8.7 billion as compared to $1.69 billion recorded in Q1 2024. The technology sector led domestic M&A activity in Mena in Q1 2025, contributing 37 per cent of total domestic deal value and 27 per cent of total domestic deal volume. The largest domestic deal during the first quarter of the year was a $2.2b acquisition where Group 42, an Abu Dhabi based AI and cloud computing firm, agreed to acquire a 40 per cent stake in Khazna Data Centres, a digital infrastructure provider. Intraregional deals involving the UAE, Kuwait, and Saudi Arabia accounted for 83 per cent of total domestic deal value and 56 per cent of total domestic deal volume, highlighting strong intraregional M&A activity, particularly in the technology, industrials, and real estate sectors. The Mena region continues to emerge as one of the most attractive destinations for foreign direct investment during the first few months of 2025, with inbound deal volume surging by 21 per cent and deal value reaching $17.6 billion, when compared to $2.5 billion in Q1 2024. During the first three months of 2025, outbound deal volume increased by 63 per cent when compared to Q1 2024, with a total deal value of $19.7 billion, contributing 43 per cent of overall deal value. The UAE and Saudi Arabia led the outbound investment from the Mena region, accounting for 77 per cent of total deal volume and 94 per cent of total outbound value. Though chemicals and oil and gas dominated in outbound deal value, outbound deal volume was primarily focused on technology, diversified industrial products, and professional services. This trend reflects the region's broader diversification strategy into high-growth global sectors. The UK was the leading destination for outbound M&A deals from Mena by volume, recording 13 transactions in Q1 2025. Canada and Peru together contributed 50 per cent of total outbound deal value driven primarily by a major transaction in Canada's chemical sector. Adnoc and Austria's OMV agreed to acquire Canada's Nova chemicals for $6.3 billion by holding 46.94 per cent each in the newly formed Borouge International Group. Anil Menon, Mena EY-Parthenon Head of M&A and Equity Capital Markets Leader, says: 'The Mena deal markets remained resilient despite lack of clarity on two fronts: the impact of monetary policy on cost of capital and the ongoing tariff and trade discussions. The Mena deal book for the remainder of 2025 is promising and we can expect to see increased activity in consumer, technology, and energy sectors. In addition, with AI expected to drive material shifts in fundamental value, we can expect to see significant capital allocation in technology.'
Edmonton Journal
3 days ago
- Business
- Edmonton Journal
Edmonton Oilers playoff run could leave economic hangover when it's done
Article content But what goes up must come down, and local restaurateur Christian Mena of the Sabor Restaurant Group said if last year was any indication, restaurant spending could dip when the playoffs conclude. 'People get excited and you're so conflicted, right? You want the Oilers to go all the way to the to the Stanley Cup, and let's kick ass this year, right? This is the year, boys,' Mena said, who acknowledged that his own restaurants don't tend to get the same playoff boost as others, on account of them not having TVs to watch the games. 'But by the same token, people are totally, for lack of a better term, blowing their wad during the Oilers. And then when it's over, you're like, 'OK, well, everybody needs to take a break here'. We kind of recoup. It's like February after Christmas,' Mena said. Moneris tracked the biggest spends near Rogers Place and around the city during Games 3 and 4 against the Vegas Golden Knights. The highest increase in spending throughout the city came on Game 3 with spending transactions rising 13 per cent across the city, compared to a comparable non-game day. Spending near the arena hit its highest for the series during the following game on May 12 with an increase of 69 per cent over a comparable non-game day.
Khaleej Times
4 days ago
- Business
- Khaleej Times
Mena media market to be valued at $20.6 billion by 2028
The media market in the Middle East and North Africa (Mena) region is projected to grow from $17 billion in 2024 to $20.6 billion by 2028, at a compound annual growth rate (CAGR) of 4.9 per cent, a report showed on Tuesday. The Dubai Press Club on Tuesday unveiled the 'Arab Media Outlook - Future Vision', offering a comprehensive analysis of the media industry across the Mena. The report was launched during the Arab Media Summit, taking place in Dubai from May 26 to 28. Advertising remains the largest subsegment, accounting for 38 per cent of the market by 2028, followed by video, both of which are undergoing rapid digitalisation. Growth is being led by digital-first formats: internet advertising is expected to grow at a CAGR pf 7.2 per cent, and gaming at 4.4 per cent CAGR, while traditional media show a decline. Over-the-Top (OTT) video, and music streaming are scaling steadily, while podcasting and esports are emerging as new growth frontiers. The report identifies the video subsegment as the most culturally influential, with OTT adoption rising across all markets. Traditional broadcast models are shifting toward hybrid broadcast-digital models. In the audio space, music streaming accounts for over 80 per cent of revenue, while podcasting, though nascent, is gaining traction, while radio retains strong reach in some countries. The publishing sector is evolving in response to shifting consumption habits, with new momentum seen in e-books, audiobooks, and digital journalism. Major book fairs in the region continue to drive footfall and visibility. Advertising is transitioning decisively to digital, with global platforms like Google, Meta, and TikTok commanding a significant share of spend. Gaming is the fastest-growing subsegment across the region, driven by rising consumer demand, expanded access to platforms, and growing interest in esports. From 2024 to 2028, all major Mena markets are expected to see consistent growth in gaming revenues. Cinema is undergoing a region-wide revival, led by the UAE and Saudi Arabia, with strong growth also projected in other Mena markets. Annual admissions across most markets in the region are expected to grow 5 per cent to 6 per cent between 2024 and 2028. The report identifies key enablers of sustained growth: modernised regulation; talent development; access to funding; world-class infrastructure; and innovation and research and development (R&D). Key economies in the region are advancing media sector growth through streamlined licensing, updated ownership laws, and clear content classification systems that boost transparency and investor confidence. Funding access is expanding in the region, with major markets offering production incentives, early-stage investments, and grants to support local and international media projects. Artificial intelligence is emerging as a game-changer across the media value chain—from content personalisation and automated news writing to immersive formats in gaming and advertising. While AI is opening new frontiers for monetisation and operational efficiency, the report also highlights regulatory and ethical challenges that must be addressed to ensure sustainable growth. Mona Ghanem Al Marri, Vice-Chairperson and Managing Director of the Dubai Media Council and President of the Dubai Press Club, said: 'The Arab media industry is entering a new phase of its development, shaped by rapid technological change, evolving audience expectations, and new patterns of content consumption. The report is part of our broader strategy to equip decision-makers with the foresight and insight needed to navigate this transformation. Through detailed analysis and actionable insights, the report outlines both the challenges that must be addressed and the significant opportunities emerging across the media landscape.' Majed Al Suwaidi, Senior Vice President of Dubai Media City, Dubai Production City, and Dubai Studio City, part of Tecom Group, said: 'The UAE recognises the media sector as a vital pillar that shapes our strategic vision for sustainable development that benefits future generations. The media industry makes an invaluable contribution to the UAE's and Dubai's creative economy by driving innovation and knowledge creation for the benefit of the region and beyond.' Tarek Matar, Partner in Media and Entertainment at Strategy&, said: 'The Arab media sector is gaining strong momentum, supported by ambitious national visions, expanding digital infrastructure, and a new generation of creative talent. As the region continues to invest in content production, technology, and policy innovation, it is well-positioned to build a dynamic and globally competitive media industry.'
Khaleej Times
5 days ago
- Business
- Khaleej Times
GIG Gulf launches the UAE's first home insurance with built-in cyber protection
GIG Gulf, a leading insurance provider in the Mena region, is raising the bar for personal protection with the launch of the UAE's first home insurance product that includes cyber-fraud cover as standard. This market-first offering extends protection beyond physical assets, helping safeguard families from the growing threat of online fraud and digital attacks. From phishing scams and identity theft to online shopping fraud and ransomware, the new Cyber Comfort cover provides policyholders with a multi-layered defense against a range of cyber threats. Every family member of the household is included under the policy, and GIG Gulf provides direct access to a dedicated cyber resolution team available 24/7 to guide victims through recovery in case of a digital breach. This enhancement comes at a time when cybercrime is escalating globally, and the UAE is taking proactive measures to protect residents and businesses. As the digital economy grows, so do the risks. GIG Gulf's cyber cover ensures policyholders are protected at home and online – reinforcing the company's commitment to customer-centric innovation. Commenting on the launch, Franck Heimburger, chief personal lines officer at GIG Gulf, said: 'Today, our homes are more connected than ever, and with that connectivity comes new risks. By embedding cyber protection into our home insurance, we're taking a bold step to meet the evolving needs of our customers. It's not just about insuring what's inside your home anymore – it's about securing the digital lives of the people who live in it.' The cyber cover is available on all new and renewing home insurance policies issued in the UAE from March 2025 onwards. GIG Gulf plans to roll out similar coverage across other regional markets and product lines, continuing to set the pace for innovation in the insurance industry. GIG Gulf continues to redefine what customers can expect from insurance – combining smart technology, practical protection, and human support to deliver peace of mind in an increasingly digital world. Explore GIG Gulf's enhanced home insurance today and take the first step toward protecting your digital world.
