Wide range of Arabic-language shows and films helps media group compete with Netflix
Media group MBC is competing hard with Netflix to become the Middle East’s biggest streaming service, pushing a wide range of Arabic TV shows and films and its offer of free programmes supported by advertising. The Riyadh-listed entertainment company, which is majority owned by the Saudi government and is the region’s largest broadcaster, now commands 22 per cent of the Middle East and north Africa $1bn streaming market through its Shahid division.
At the same time, revenues rose 72 per cent year on year to SR298mn, boosted by Ramadan falling in the first quarter. Families traditionally tune in to month-long TV series during that time, making it a top period for advertising spending. Karim Sarkis, a media and entertainment specialist at consultancy Strategy&, said Shahid’s free streaming service and Arabic-language shows and films are helping it compete with Netflix.
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