As global audiences demand more personalized experiences both in terms of content and platform, the entertainment and media (E&M) industry is in the midst of a significant shift. The development of mobile and streaming technologies has sparked a change in consumer behavior, thrusting the industry into an era analysts are referring to as convergence 3.0.
With expectations at an all-time high, the E&M industry must adapt to meet the brief.
With digital revenues set to make up 56.9 percent of the industry’s income by 2022, competitors and niche providers are forced to reevaluate obsolete business models driven by advertising revenue, instead shifting their focus to providing bespoke content to consumers on an in-demand basis.
Experts will come together at the Dubai World Trade Centre (DWTC) from March 12-14, 2019 at CABSAT, a specialist event for the broadcast, satellite, digital media and filmed entertainment industries for the Middle East and North Africa (MENA) region to discuss changing roles of content creation, distribution and consumption.
“Viewers are consuming more content than ever today, and this is a great news. We’re living in an era where content is at the center of everything we do. Our viewers consume content where and when they want, on the device of their choosing, so our mission today is to be everywhere, producing great content that can work on different platforms creating experiences for audiences that work across devices and in real life,” commented Raffaele Annecchino, President, Viacom International Media Networks Southern & Western Europe, Middle East and Africa, who will be speaking at the event on the new media landscape.
The MEASA market is ripe for innovators looking to unlock new revenue streams. The Content Congress at CABSAT will provide in depth insight into how to disrupt and adapt traditional broadcast models to meet the demands of viewers looking for a bespoke experience. Panelists at the Content Congress will be addressing issues that the industry cannot afford to ignore, including the fate of broadcast television, the potential of content creation in the MEASA region and the integration of social media platforms in traditional broadcasting.
“Today, the content creation landscape is a dynamic and evolving one, and the biggest challenge remains to keep up and adapt to the changes. As a developing content creation hub in the Middle East region, our future truly lies in producing exciting and ground-breaking work that meets and exceeds the expectations of our consumers. Lately, we have introduced several products and initiatives — including CineMENA — to provide a direct gateway into content creation,” said Majed Al Suwaidi, Managing Director of Dubai Studio City.
As entertainment goes mobile, business models are being reinvented to unlock new revenue streams. Content creators and distributors are looking to develop loyal audiences with quality user experiences that engage viewers. This shift is most apparent in interactive sectors of the media market such as e-Sports. Though the MENA region is a relatively young market for e-Sports, the regional industry has been valued at nearly USD 3 billion, with significant potential for growth in the coming years.
“The video-games industry is now bigger than film and music industries combined. The push for more interactive, entertaining and engaging content that is accessible anywhere, at any time has opened the door for a boom in e-Sports. E-sports is the next big revenue growth engine for entertainment entities. This is particularly true in the MENA region, with its high internet penetration and young demographics,” said Saeed Sharaf, the CEO of eSports Middle East.
Launching this year at CABSAT, the e-Sports Showcase will provide broadcasters, brands and developers a platform to understand the gaming revenue stream.
“The E&M industry is amid a huge wave of change. Companies need to bring in new, high quality content delivered through the latest interfaces to stay at the forefront of this shifting industry landscape. CABSAT is the MENA region’s leading platform for unveiling the latest in content, technology and distribution,” said Trixie LohMirmand, Senior Vice President, Events & Exhibitions Management, DWTC.