Dubai Media City helps to strengthen media industry in Dubai

Dubai's media sector has gone from strength to strength in the past decade, with the creation of a real industry ecosystem emerging in Dubai, the Dubai Media City, which provides a home for industry giants, as well as SMEs and entrepreneurs from across the media value chain.

The Media Cluster of TECOM Investments, which comprises Dubai Media City, Dubai Studio City and the International Media Production Zone, experienced positive growth in 2014, with 201 new companies joining its portfolio.

Deloitte's recent TMT Predictions for 2015 highlight real growth opportunities for content creators across the MENA region, focusing particularly on short-form content and Digital Islamic Services.

In line with this, Mohammad Abdullah, Managing Director of TECOM's Media Cluster, has called for content creators to join these vibrant business communities, which already provide a home to content creators from around the world, to enable their further development and growth.

Digital Islamic Services, which includes any technology or media online product or service that addresses the needs of consumers in the Islamic economy, will also be a strong area of growth over the next few years.

Deloitte predicts that the region's Digital Islamic Economy will nearly double in size in terms of Muslim consumer spend on lifestyle products and services, to reach US$30 billion by 2018.

"The environment for content creators has never been as competitive as it is today, with consumers able to access almost unlimited amounts of content on their smartphones, and it is important that creators of content are given the right support and market for their output and to fill a niche," Mohammad Abdullah said.

"With large industry players adopting the short-form video format, whose new ventures we continue to support, it is more important now than ever that creators of online content are given the right support and environment to operate. We continue to encourage creators of content from around the world to join our business communities, and ensure that creativity and competition is nurtured across the industry."

"We have long supported Deloitte's Middle East TMT predictions, as they contain many valuable insights that serve as a guide for the media industry and, as evidenced by their predictions, there are real growth opportunities within particular areas of the media sector."

Dubai Media City, since its inauguration in 2001, has grown to become a thriving business community, home to leading international and regional brands including CNN, Thomson Reuters, MBC and CNBC Arabia.
Source: WAM