Thursday, Feb 16, 2012
Gulf News
Dubai The media and allied activities remain a sunrise industry going by the numbers achieved by Tecom Investments’ Media Cluster.
As of the end of last year, 284 companies have set up operations there, with the newcomers representing event management and marketing services companies, as well as those in pure-play radio, television and film production.
The base was also expanded by the presence of freelancers trying to integrate into a thriving media scene.
“On the back of an industry uptrend, a good line-up of businesses set up base at the Media Cluster,” said Mohammad Abdullah, managing director for the hub. “Additional investments in potential growth areas and operational expansions were also witnessed.
“The favourable year-on-year trend for the cluster reflects the development in the region that continues to attract a large community of media professionals.”
Last year the cluster saw the likes of MBC, Leo Burnett, the outdoor advertising specialist JCDecaux and the digital printing entity Costra Group expand their operations.
The prognosis for two of its key user industries — advertising and TV production — this year is rated as solid. This would create more opportunities for the cluster itself.
Not much impact
Ad spend in the Arab-speaking territory was valued at was $14.3 billion (Dh52.5 billion) last year compared with $13.7 billion the year before.
And the Arab Spring did not have much of an impact on TV production houses. A regional survey by the Arab Advisors Group found that a sample of 26 production houses created 47 television series between themselves in the first nine months of last year.
“Investors across the new media value-chain are particularly looking at areas such as content creation and delivery,” said Abdullah. “With the media poised to serve as a platform to promote public debate, transparency and respect for diversity of views and opinions, the time is now right for international industry leaders to explore fresh areas of opportunity in the Middle East.”
Staff Report
Gulf News 2012. All rights reserved.
