PARTNER CONTENT
18
SAUDI ARABIA REPORT 2021
May 30, 2021
Driving change Ahmed Al Sahhaf, CEO of MMS, explains how MBC’s new commercial arm will leverage the broadcast and streaming giant’s power in the kingdom
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ive years into Vision 2030 and we are already observing a tangible and diverse growth in the public sector’s operating models, economy and society as a whole. We have witnessed 46 million visitors take part in more than 2,000 entertainment, cultural and sporting events in the kingdom. The Private Investment Fund grew to an approximate SAR 1.5 trillion and non-oil government revenue increased by nearly
122 per cent in the last five years to SAR 369bn in 2020. The kingdom has achieved a monumental transformation all acrossthe-board and these great strides are attributed to the unprecedented social reforms, and the clear vision put in place by Saudi Arabia’s Crown Prince Mohammed bin Salman. All these developments have created change in consumer behaviour, which gave brands endless opportunities to connect with their current and new consumers. As the country continues to take effective measures to control the spread of the coronavirus, and as the kingdom focuses on expanding non-oil revenues such as entertainment, tourism, media and much more, brands are looking to further enhance their position in the market to resonate better in consumers’ minds and hearts. This is especially evident amongst Saudi government entities that are utilising various platforms to communicate the goals and projects of Vision 2030 to its people and the world.
Areas of opportunity A report by Emerging Markets Intelligence and Research from February 2021 outlined several positive opportunities that include: government projects related to Vision 2030; the National Transformation Plan; education; healthcare; entertainment; housing; tourism; privatisation; e-commerce; and much more. This is especially true when it comes to the entertainment and tourism sector.
Cinemas reopening and entertainment events kicking off pose opportunities for brands to connect with their audiences. The Saudi government’s plan to invest more on entertainment in the coming 10 years presents further opportunities for the industry at large. It is also worth noting that Saudi Arabia ranked first in the Arab world and 21st worldwide last year in the Happiness Index, increasing 16 ranks since the beginning of Vision 2030.
Role of TV When it comes to media consumption, Saudi newspaper Okaz stated that not so long ago there were endless restrictions on television broadcasts, yet nowadays the Kingdom has become among the top 10 countries in the world in mobile internet speeds. In a short period of time, the number of homes connected to the optical fibre network heavily grew from 1 million to 3.5 million. Data also showed that terrestrial TV is still thriving in Saudi Arabia, with set-top-box data showing that in 2021 TV is reaching 84 per cent of the total Saudi population on a monthly basis. On the level of MBC GROUP, TV reaches an average of around 53 per cent (10.24 million) of Saudi individuals aged 15 and over daily and owns an audience share of about 44 per cent from the Saudi landscape. At MMS, MBC GROUP’s commercial arm, we have noticed a healthy and consistent growth in TV investments, with clients revitalising their marketing campaigns.
MMS’s focus on the Saudi market There are notable opportunities in the Saudi market with increasing demand from clients and opportunity for growth across all sectors including government
