{"id":87636,"date":"2024-07-08T00:00:00","date_gmt":"2024-07-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/08\/streamer-shahids-mena-subscription-lead-in-focus\/"},"modified":"2024-07-08T00:00:00","modified_gmt":"2024-07-08T00:00:00","slug":"streamer-shahids-mena-subscription-lead-in-focus","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/08\/streamer-shahids-mena-subscription-lead-in-focus\/","title":{"rendered":"Streamer Shahid\u2019s MENA subscription lead in focus"},"content":{"rendered":"

It was a slow day for the Kingdom in the international press<\/strong>, with the Financial Times<\/a> examining how media giant MBC\u2019s streaming platform, Shahid, has emerged as the top competitor to Netflix in the Middle East. MBC, which listed early this year<\/a> on Tadawul, is taking the approach of free programmes funded by advertising instead of a solely subscription-reliant business model, writes the salmon colored paper. <\/p>\n

Gone are the days of TV: <\/strong>Television is \u201cnot where we\u2019re going to get the growth from\u201d, MBC\u2019s CEO Sam Barnett told FT in an interview. \u201cWe\u2019re getting similar [TV] viewership we had in previous years. We\u2019re maintaining market share. It\u2019s the media that is changing\u2026we are seeing the shift of people to using [streaming].\u201d He hit back at critics who described the company as a \u201cparochial Middle Eastern company\u201d that cannot compete with Netflix and other global streaming platforms.<\/p>\n

In context- A bigger market share despite unprofitability: <\/strong>Shahid currently holds 22% of tne MENA streaming market, which is valued at USD 1 bn, according to tech advisory Omdia. This places it 5 points ahead of Netflix. The growth in its viewership comes as the streaming business seeks profitability as MBC pours in more investments. Shahid saw SAR 6 mn in losses in 1Q 2024, trimming its losses from SAR 102 mn a year earlier as subscription and advertising revenues grew. Revenues were also up 72% y-o-y over the year to SAR 298 mn due to increased demand on Arab dramas during Ramadan.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shahid currently holds 22% of Mena\u2019s streaming market<\/p>\n","protected":false},"author":1,"featured_media":87637,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2561],"tags":[10,201,1846,229,1507],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-saudi-in-the-news","tag-enterpriseam-ksa","tag-mbc","tag-netflix","tag-saudi-in-the-news","tag-shahid","wpautop","entry"],"acf":{"mongo_id":"cd8a5971-6f51-44d8-817c-f6a372c05a76","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/541.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Streamer Shahid\u2019s MENA advantage over Netflix is in the spotlight","related_issue":[87619],"teaser":"Shahid currently holds 22% of Mena\u2019s streaming market","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.2364cfed-0f0d-4e40-be3f-14df91de68a6.mp3"},"yoast_head":"\nStreamer Shahid\u2019s MENA subscription lead in focus - 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