Rising popularity of online video streaming services and increasing internet and smartphone penetration is boosting the Movies and Entertainment Market in Middle East|Forecast for 2023-2027|Technavio
The Movies and Entertainment Market in the Middle East is likely to experience steady growth because of the rising popularity of online video streaming services and growing internet and smartphone penetration. Rising at a CAGR of 4.72%, the market is estimated to have an incremental growth of USD 660.48 Mn from 2023 to 2027.
Leading companies that are attributing to these market advancements include names like Arab Media Group LLC, beIN MEDIA GROUP, Epic Films FZ LLC, EyeMedia, FILMWORKS GROUP, Mazzika Group, MBC LLC, Netflix Inc., Orbit Showtime Network, Qudurat Media Co., Saluki Media FZ LLC, SilverGrey Pictures, Sony Group Corp., Syrup Global LLC, The Walt Disney Co., etc which comes with wide variety of offerings for the Middle East Consumers.
Snapshot of Movies and Entertainment Market in Middle East
As per a Technavio analyst: “Quote” reason is expected to boost the growth of the movies and entertainment market
Piracy issues illegal downloading of movies, music, and videos, and strong cultural bias are expected to hinder the growth of the market. However, branding and promotion and launch of movies, and music events will have a positive impact on the movies and entertainment market during the forecast period.
Technavio’s analysis of the Movies and Entertainment Market in Middle East also includes: