According to a study conducted by PWC, digital spending will account for the majority of revenue of the media and entertainment industry. The global digital spending will reach 50% of total revenue by the year 2024,. In the MENA region, digital spending will reach 45%. These numbers are huge, which is a strong indication that Arabs are consuming digital content exponentially.
Furthermore, the pandemic has accelerated the adoption of streamed video and audio content in the MENA region. It has also boosted the popularity of online gaming even further. Arabs are hungry for content and both global and local players in the digital media and entertainment sector are short of supply.
Also, the education sector has pivoted dramatically during the pandemic. Educational institutions were forced to quickly move into the online space and adapt their curriculums to online learning. This accelerated the edutainment sector especially for younger students that have trouble concentrating in a home schooling environment.
The need for Arabic digital content is growing, yet the supply is still much lower than the demand. Consequently the entry point to the MENA market for international content producers is through localization. Listen to our podcast below to learn more about the state of digital content and the opportunities of growth in the Arab world.