In the world of sports streaming, the Middle East and North Africa (MENA) region is where all eyes should be. As someone deeply entrenched in this industry, I can tell you firsthand that it’s an exhilarating time to be part of this transformation.
A young, tech-savvy population, booming internet access, and an insatiable thirst for premium sports content have made MENA a melting pot of opportunity and innovation.
Let’s face it: traditional broadcasters are playing catch-up as digital platforms take the lead. MENA is no longer just a consumer market – it’s becoming a trendsetter in the global streaming ecosystem.
Here’s why the region stands out. Countries like the UAE and Saudi Arabia boast some of the highest smartphone adoption and internet penetration rates in the world. Couple that with a median age of just 27 – a generation that lives and breathes through mobile screens – and you have a recipe for rapid digital content consumption.
The cultural and economic shifts, such as Saudi Vision 2030’s push to establish the Kingdom as a global sports hub, are only adding fuel to the fire. And let’s not forget the numbers. The subscription video-on-demand (SVOD) market here is projected to exceed $1.2 billion by the end of 2024. Online video advertising, a critical revenue stream, is expected to surge by 67 per cent by 2028.
Cricket, football, padel, and even e-sports are stealing the show, pulling in millions of viewers. It’s worth noting that Saudi Arabia leads the world in YouTube video consumption. If that doesn’t underscore the region’s appetite for digital content, I don’t know what does.
But let’s be real – it’s not all smooth sailing. Piracy continues to be a thorn in our side, eating away at revenues and shaking investor confidence. Then there’s the tricky question of monetisation. Many viewers are hesitant to pay high subscription fees, forcing us to find the right balance between offering premium content and embracing ad-supported models. And of course, localisation is key. Arabic-language commentary, culturally relevant features, and interactive tools are no longer just “nice to have” – they’re essentials.
I believe the future of sports streaming in MENA will hinge on hybrid monetisation models. Think subscriptions combined with ad revenues and engagement-based incentives. Social driven sports consumption – where fans discuss, predict, and even transact live during games – will take center stage.
There’s also immense potential in emerging tech like Web3 and NFTs, which can provide fans with new ways to own and interact with their favorite sports moments. Add AI-driven gamification and real-time analytics to the mix, and the possibilities are endless.
And here’s an exciting trend worth keeping a close eye on: Free Ad-Supported TV (FAST) channels. These platforms, which offer free content supported by advertising, are on the rise. In fact, revenues from FAST channels in MENA are expected to quadruple in the next five years. Their success underscores the need for flexibility, especially in catering to diverse viewer preferences.
As I see it, the MENA region is not just evolving – it’s on the brink of revolutionising the sports streaming industry. For platforms like ours, the challenge is clear: we must prioritise engagement, localisation, and creative monetisation to thrive in this rapidly changing landscape.
The future is exciting, no doubt about it. But it’s also complex, and that’s what makes it so rewarding to be part of this journey.
By Somair Rizvi, Co-Founder & CEO of Emerging Markets at Myco
