Latest news with #mediaindustry
Reuters
5 days ago
- Business
- Reuters
Business Insider cuts 21% of workforce, memo shows
May 29 (Reuters) - Business Insider is laying off about 21% of its workforce, an internal memo showed on Thursday, as the financial news outlet grapples with shrinking search traffic and the growing use of generative AI tools such as ChatGPT. The New York-based company joins several digital media companies in restructuring operations as consumers increasingly depend on artificial intelligence for news synopsis, which is eating into web traffic. In the memo, CEO Barbara Peng told staff the company now generates twice as much revenue for each website visit as it did two years ago, but 70% of its business still has some degree of traffic sensitivity. "We must be structured to endure extreme traffic drops outside of our control, so we're reducing our overall company to a size where we can absorb that volatility," Peng said in the memo seen by Reuters. The New York-based company is accelerating adoption of AI, with a majority of employees already utilizing Enterprise ChatGPT and several AI-driven products to enhance operations and reader experience, Peng said. The website is realigning its content strategy to concentrate on areas that attract high reader engagement, and is exiting the majority of its commerce business, Peng said. It is also launching a new events business called BI Live, Peng said, adding that it has already seen some demand and will continue to build the team. Earlier this year, Washington Post and Associated Press laid off 4% and 8% of their workforce respectively in a bid to cut costs and modernize operations.
Emirates 24/7
7 days ago
- Business
- Emirates 24/7
Dubai Press Club unveils ‘Arab Media Outlook - Future Vision' report at Arab Media Summit
The Dubai Press Club today unveiled the 'Arab Media Outlook - Future Vision', a flagship report offering a comprehensive analysis of the media industry across the Middle East and North Africa (MENA). The report was launched during the Arab Media Summit, taking place in Dubai from 26th to 28th May. Developed in partnership with Dubai Media City, the Knowledge Partner, and Strategy&, the Research Partner of the report, the publication serves as a vital resource for policymakers, investors, entrepreneurs, innovators, and professionals shaping the future of the region's media landscape. The report underscores the profound transformation underway across the region's media sector, driven by rapid digital disruption, changing audience behaviours, and ambitious national strategies. Spanning five core subsegments—video, audio, publishing, advertising, and gaming—the report highlights the media industry's role as an important driver of economic diversification, job creation, and cultural influence in the region. 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. Guided by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, to enhance the media's role as a partner in progress, we are working to build a globally competitive media ecosystem that plays a greater role in the region's development journey.' 'The 'Arab Media Outlook - Future Vision' 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,' she said. 'This report reflects the Dubai Press Club's commitment to advancing a media environment that supports innovation, talent development, and investment, not only in Dubai and the UAE, but across the wider Arab world. Under the leadership of H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Chairman of the Dubai Media Council, we are pursuing a clear strategy to support media development by fostering creativity, raising professional standards, and enabling the sector to contribute meaningfully to long-term progress. As Dubai continues to grow as a global content production and creative economy hub, we remain focused on building the partnerships, capabilities and knowledge base that will shape the future of Arab media,' she added. Majed Al Suwaidi, Senior Vice President of Dubai Media City, Dubai Production City, and Dubai Studio City, part of TECOM Group PJSC, said, 'The UAE recognises the media sector as a vital pillar that shapes our strategic vision for sustainable development that benefits future generations, and Dubai Media City is proactively shaping its trajectory to inform and enlighten with homegrown storytelling that has global impact.' '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. As Knowledge Partner of the 'Arab Media Outlook – Future Vision' report, we are reaffirming our commitment to nurturing a globally competitive media landscape that strengthens the vision of the Dubai Economic Agenda D33 and the Dubai Creative Economy Strategy,' he added. 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. This report reflects our commitment to providing data-driven insights that enable governments, investors, and media leaders to navigate the evolving landscape and unlock the full potential of the sector.' According to the report, the MENA media market is projected to grow from $17 billion in 2024 to $20.6 billion by 2028, reflecting a compound annual growth rate (CAGR) of 4.9%. Advertising remains the largest subsegment, accounting for 38% 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 7.2% compound annual growth rate (CAGR), and gaming at 4.4% 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% 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% to 6% 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. The Arab Media Outlook 2025 also includes global case studies on OTT leadership from advanced markets across the world, offering insights into OTT growth strategies, audio innovation, and advanced advertising models, with practical takeaways for media stakeholders across the Arab world. Follow Emirates 24|7 on Google News.
Arab News
26-05-2025
- Business
- Arab News
Future is for those who can imagine it, Arab News Editor says at AMF reception
DUBAI: As part of a series of initiatives marking its 50th anniversary, Arab News hosted a special reception and talk in collaboration with Google on the opening day of the Arab Media Forum, reflecting on five decades of events that shaped the Middle East and exploring the future of the region's media landscape. During the reception, held at the Dubai Future Foundation under the theme 'Reimagining the Future of Media,' Faisal J. Abbas, Editor-in-Chief of Arab News, addressed the challenges facing the media industry and how emerging technologies are reshaping its future. 'The future does not wait, the future is already here, and we should remember that the future belongs to those who can imagine it, design it and execute it, as Dubai Ruler H.H. Sheikh Mohammed bin Rashid always says,' said Abbas. 'As an industry, we have suffered far too long from paralysis by analysis,' he added. 'While artificial intelligence is evolving every day, we should simply just do it and remember that amateurs talk strategy, while professionals talk logistics, as the late World War II general, Omar Bradley, once said.' For her part, Mona Al-Marri, director-general of Dubai Media Office, Government of Dubai, welcomed the attendees and congratulated Arab News on its 50th anniversary in her opening remarks. 'Congratulations to the entire Arab News team,' she said, noting the newspaper's pivotal role in the regional media landscape and its long-standing contribution to the Arab Media Summit since its inception 23 years ago — 'whether through participation, contribution, or by organizing events like this.' Al-Marri praised the leadership of Abbas, saying that 'having a young editor-in-chief running such a major platform makes' a real difference. 'How can we transform such a platform into digital? Today's (event) actually marks the importance of having such collaboration, like with Google and the Dubai Future Foundation, where we feel this is the future of the Arab media. I hope that all media outlets in our region follow in the steps of Arab News, because this is when you set a good working model for the whole region.' 'Arab News is leading this transformation,' she added. In a region where over 50 percent of the population is young, 'we should all follow this model.' Speaking on the future of the industry in his keynote speech, Khalfan Belhoul, CEO of the Dubai Future Foundation, outlined seven key predictions for media over the next year. 'Let's all agree that how we create and consume media is changing dramatically,' he said during his address at the Dubai Future Foundation Auditorium in Emirates Towers. 'Look at the average attention span, which is eight seconds.' He noted how sports consumption has dramatically changed beyond live games and consequently the demand for content has exploded. 'For me, sport is all about pre-game, game, post-game interviews and conversations. And we need to adapt to that.' Belhoul emphasized that this shift is forcing a transformation of media business models. 'New media means new roles,' he said, listing predictions such as AI-generated news anchors, governments licensing content creators, and AI-powered productions by major streaming platforms. He also highlighted the rise of 'slow media' as a cultural counterbalance to viral, unchecked content. He said that the disruptive power of AI — from disinformation to audience mistrust — makes the 'human touch' more vital than ever. 'AI may be the hero of the next media chapter, but self-critique, adaptability and editorial responsibility will define its success,' he said. Now in its 24th edition, the three-day Arab Media Forum in Dubai brings together senior government officials, media executives, thought leaders, and influential content creators from the Arab region and beyond. It is now held under a bigger event called the Arab Media Summit, which includes various other forums and award ceremonies. The summit runs until May 28 and focuses on fostering collaboration among media platforms, senior officials, and governments to create a positive impact on shaping vital sectors of everyday life in the region. In light of this connection, the summit features an impressive lineup of prominent personalities including Nawaf Salam, the prime minister of Lebanon, and Asaad Al-Shaibani, Syria's foreign minister, among others. A panel discussion featuring information ministers from several Arab countries explores the future of public media and strategies to strengthen collaboration with the private sector. Ghassan Salameh, Lebanon's minister of culture, will share insights on the media's role in shaping a path toward regional stability, while prominent media figure Piers Morgan is set to address the summit audience in a key session. Addressing the pivotal role of AI in reshaping the media landscape, Anthony Nakache, managing director of Google MENA, highlighted Google's initiatives and products aimed at enhancing user experience and supporting content creation in an era of rapid digital transformation. He said: 'Since Google was founded, our mission has been to organize the world information, make it universally accessible and useful for everyone. 26 years later, that vision has not changed, and we are actually more committed to it than ever.' 'We considered exploring new initiatives such as the AI Launch Lab with FT Strategies and the Google News initiative and FT Strategies AI design sprint in collaboration with The Saudi Ministry of Media and the UAE Media Council.' He added: 'By (choosing) to invest in innovation, to uphold the highest standards of quality information, and by empowering journalists to use AI tools and digital solutions, we can all together forge a very dynamic and successful future for journalism in the region. A great example of that is what we are going to showcase tonight, which is our partnership with Arab News that is now exploring the latest of our AI tools to create new ways to engage with their audience.' Nakache said he was 'very excited' about the upcoming Arab News podcast series powered by Google's latest AI tool, NotebookLM 2, a smart note-taking solution that automatically generates podcasts. The tool was recently recognized as one of the most innovative AI solutions of 2024 by Time magazine. 'But the best (results come) when it is put in the hands of journalists, creating magic for users,' he added. Monday evening concluded with the announcement of Arab News' collaboration with Google for a special podcast series titled 'Recounting the Moments that Changed the Middle East.' The five-episode podcast series spans five decades, with each episode focusing on a pivotal decade in Middle East history — from 1975 to the present. Produced using NotebookLM, Google's AI-powered research tool, the project employed artificial hosts and AI-generated voices to narrate major events that shaped the region, highlighting how emerging technology can support storytelling, research and historical reflection in modern journalism. You can access the podcast by visiting
Yahoo
26-05-2025
- Business
- Yahoo
Astro Malaysia Holdings Berhad Full Year 2025 Earnings: EPS Beats Expectations, Revenues Lag
Revenue: RM3.08b (down 8.0% from FY 2024). Net income: RM129.1m (up 205% from FY 2024). Profit margin: 4.2% (up from 1.3% in FY 2024). The increase in margin was driven by lower expenses. EPS: RM0.025 (up from RM0.008 in FY 2024). We've discovered 3 warning signs about Astro Malaysia Holdings Berhad. View them for free. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 49%. Looking ahead, revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Media industry in Malaysia. Performance of the Malaysian Media industry. The company's shares are up 8.1% from a week ago. We don't want to rain on the parade too much, but we did also find 3 warning signs for Astro Malaysia Holdings Berhad (2 are a bit unpleasant!) that you need to be mindful of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
