In recent years, the Middle East, African, and Southern Asian (MEASA) Media and Entertainment (M&E) markets have witnessed significant growth and transformation. Fueled by the expansion of streaming platforms into the region, the demand for original, regionally created content, and the desire for culturally relevant stories from their populations worldwide, these regions have actively invested in expanding and growing their content creation and distribution capabilities. This article delves into the changing dynamics of these markets and their impact on the global business community.
The Middle East, particularly Saudi Arabia, is a prominent player in the international media landscape. It has attracted international productions by hosting renowned celebrities and offering generous incentives to filmmakers, intending to enhance its reputation in global entertainment. Additionally, the country has made substantial investments in pop culture, including sports, video games, and, most notably, the film industry. The Red Sea International Film Festival in Jeddah exemplifies Saudi Arabia's commitment to becoming a cultural hub.
The United Arab Emirates (UAE) has also invested heavily in improving and promoting its M&E ambitions. The Emirates of Abu Dhabi and Dubai have developed significant film production and post-production facilities. Abu Dhabi's Image Nation studio won Academy and BAFTA "Best Documentary" awards and seven Emmys in 2019 for "Free Solo." Dubai's Media City , Dubai Production City , and Dubai Studio City offer tax-free, world-class production and editing facilities to filmmakers and other content creators looking to develop and release original content in and promote the MEASA region. Dubai production facilities have been used in "Mission Impossible," "Star Trek," "Jurassic World," and "Fast & Furious" film franchises.
Growth and Potential of African and Southern Asian Markets
Africa presents a vast and diverse consumer market with increasing media and entertainment content demand. Just as India has "Bollywood," Africa has "Nollywood." Located in Lagos, Nigeria, Nollywood produces a reported 50 titles per week and is Africa's largest and most prolific content producer. From a title-only standpoint, e.g., not box office revenue, Nollywood follows India as the second-most prolific source of video content. For example, the Lagos-based EbonyLife Studios co-produced the award-winning film "The Woman King," which won 28 film awards worldwide.
Southern Asia, encompassing countries like India, Bangladesh, and Pakistan, boasts a thriving film industry and a rich cultural heritage that appeals to domestic andglobal audiences. India is the most significant film and TV series-producing country, producing over 1,000 films annually. " RRR ," which was controversial for several reasons, won Best Original Song Oscar™ for " Naatu Naatu ." These markets are witnessing a shift toward localized content creation, emphasizing storytelling that resonates with regional audiences.
The development of MEASA production capabilities and quality output has not gone unnoticed by studios, distributors, and platforms. M&E companies actively explore establishing a presence in these regions through production partnerships, underwriting development, or other direct investment means.
The digital revolution has played a significant role in the rise of these markets. The widespread availability of smartphones and internet connectivity has opened up new avenues for content distribution and consumption. Streaming platforms, social media, and online marketplaces have become powerful tools for reaching audiences in these regions, allowing for a more personalized and targeted marketing and content delivery approach.
Contact Spherex today to learn how your business can tap into these flourishing markets and forge valuable connections.