OPPORTUNITIES AND CHALLENGES

investments from various companies seeking to capitalize on its vast potential. Industry experts predict that the Middle Eastern and African market will expand from US$ 44.40 million in 2022 to US$ 68.95 million by 2028 for a CAGR of 7.6% during the 2022-2028 period.Various factors account for the increasing popularity of LBE, including rising levels of disposable income levels among consumers in the region and a growing number of tech-savvy young people eager for novel and exciting experiences. Tourists to the region tend to visit Dubai and Abu Dhabi in the United Arab Emirates and Riyadh in Saudi

Arabia. Accordingly, in February 2020, Saudi Entertainment Ventures (SEVEN) decided to contribute to Saudi Vision 2030, a public investment fund involved in the development of several entertainment destinations in Riyadh. In the UAE, several world-class LBEs testify to the thriving business landscape. Dubai’s IMG Worlds of Adventure, a state-of-the-art indoor amusement park, features four exquisitely themed zones, including Marvel, Cartoon Network, IMG Boulevard, and the Lost Valley. Dubai Resorts and Parks, another noteworthy entertainment complex, features a plethora of themed attractions, such as Motion- gate, Bollywood, Legoland, Legoland Water Park, and Riverland Parks, in addition to luxurious hotels and resorts such as Lapita Hotel and Legoland Hotel, which offers Lego-themed rooms and activities for children. Likewise, Warner Bros. World Abu Dhabi offers an exciting array of rides and attractions based on iconic DC Comics characters, such as Cartoon Junction, Gotham City, and Metropolis; Ferrari World Abu Dhabi boasts the world’s fastest roller coaster; and Yas Waterworld features the largest surfable sheet wave anywhere, which attracts thrill-seekers from all over the world. The increasing LBE development in Saudi Arabia includes several remarkable projects in progress.

Qiddiya Entertainment City, near Riyadh, is an ambitious venture designed as a premier entertainment and leisure destination complete with theme parks, sports facilities, and cultural at- tractions. Additionally, Six Flags Theme Park has committed to the development of a theme park within the city.

NEOM, the cutting-edge city being built in northwestern Saudi Arabia, boasts modern infrastructure and a broad range of LBE facilities, including a giant artificial moon and a Jurassic Park-style attraction.

The Red Sea Project, a luxurious tourism development on that coast, features high-end resorts, hotels, and a plethora of entertainment and leisure facilities, such as golf courses, spas, and water parks.

The entertainment industry in Qatar has also undergone tremendous growth in recent years thanks to the country’s position as another top tourist destination and its burgeoning population.

The surge in demand for both indoor and outdoor entertainment venues has inspired numerous world-class attractions, including the highly acclaimed Angry Birds World theme park in the iconic Doha Festival City. Furthermore, for the 2022 FIFA World Cup, which attracted millions of visitors, Qatar invested significantly in cutting-edge entertainment experiences that cater to the diverse tastes and preferences of locals and tourists alike.

This trend is expected to continue as entrepreneurs and investors looking to tap into the booming entertainment market in Qatar create exciting business opportunities.

Furthermore, Egypt is also embarking on exciting LBE projects that blend ancient history with modern amenities to deliver a unique experience to visitors. Noteworthy examples include the Mall of Egypt and the Grand Egyptian Museum, which is expected to be the largest archaeological museum in the world.

The LBE industry in the Middle East, then, is experiencing significant growth driven by favorable economic and demographic factors.

As a new generation of digital natives seeks fun and interactive experiences, the market is becoming increasingly attractive to operators in the LBE sector.

At the same time, challenges remain, including a limited market, cultural sensitivities, insufficient infrastructure, and high operating costs. Countries such as the UAE, Qatar, and Saudi Arabia have invested heavily in infrastructure, but operators still need to consider carefully the costs and potential barriers to entry into this emerging market. Overall, though, for those committed to careful planning and investment, the Middle East has the potential to become a major player in this sector of the global entertainment industry.

In sum, this is an exciting moment in the development of the LBE industry in the Middle East.

With growing demand and ever more players entering the market, the region has the potential to become a major global destination. Going forward, by facing the challenges described here, the industry can realize its full potential.

About the Author Markettcom was cocreated in 2021, by Amer Bitar, prior to which he headed up the licensing business at WWE Middle East for 6 years and Ammar Jabri, an entrepreneur who created a successful premium and promotion business called Jabs Trading that becomes a leader in the promotions industry in the region. Markettcom is a Dubai-based licensing agency with offices and partners in the entire MENA region, specializing in representing intellectual property’s rights in the Middle East North Africa. For information, contact: amer.bitar@markettcom. com

Dubai: The Licensing Horizons Conference, co-organized by the BrandTrends Group and Markettcom, made history as the first event of its kind in the Middle East and Africa region on March 17th, 2023, in Dubai. The conference offered valuable insights and strategies to succeed in the rapidly growing licensing industry in the region.

The conference was opened by Maura Regan, President of Licensing International, via a recorded video, who expressed her strong belief in the development of licensing in MENA and wished the conference success.

Top industry experts led engaging discussions and informative presentations, providing attendees with unique and valuable insights.

A diverse range of professionals from the licensing industry attended the conference, with strong engagement from each attendee. This event pro- vided a rare opportunity for professionals to network with peers, share knowledge, and learn from industry experts.

Rani Rikabi Sukkari, Director of Marketing at MBC Group, was a panelist at the event and emphasized the importance of collaboration and networking in the industry. He also highlighted the opportunity to connect with fellow professionals at the conference and exchange valuable insights.

Rami Selo, COO of Sedar Global, was among the attendees and shared his excitement about the stimulating discussions and inspiring presentations. He spoke about the conference’s ability to motivate him to explore new opportunities for growth and success for the company. The conference provided an excellent platform for industry leaders to exchange ideas and drive innovation.

Philippe Guinaudeau, CEO of the

BrandTrends Group, commented, “Licensing Horizons was a groundbreaking event for the region, and we are thrilled with its success. The Middle East and Africa region is a rapidly growing market for licensing, and the knowledge and strategies shared at this conference will undoubtedly help attendees succeed in this dynamic market.”

Amer Bitar, CEO of Markettcom, added, “Events like Licensing Horizons are critical for professionals to stay up-todate with the latest trends and strategies in the constantly evolving licensing industry. We are proud to have coorganized this event and look forward to hosting more events in the future.”

The Licensing Horizons conference marked a significant milestone in the licensing industry in the Middle East and Africa region, and the organizers are excited to continue hosting events that will drive innovation and success in the industry.

Spacetoon celebrating its 23rd Anniversary with a mountain of achievements

Along with millions of fans, partners, and its team of course, Spacetoon celebrated 23 years of broadcasting in MENA on the 15th of March.

Spacetoon, which has enjoyed a mountain of achievements in 2022, continues to expand its reach in the region by planting seeds in new industries and launching new projects, covering a variety of entertainment areas and fulfilling new market needs.

Spacetoon experienced a remarkable growth rate in 2022. Having operated in MENA since 2000, Spacetoon was the first choice for kids, adults and families alike in 2022, who had access to the most-watched animation and anime content, from top international

Spacetoon understands that “Content is King”, but also that its audience has different watching habits, especially those who enjoy binge-watching their content on their Smart TV anytime they want. Spacetoon Go, which won the Seamless Awards as the best innovative solution in MENA, provides its users and subscribers with the option to rent or buy certain content using its well-designed TVOD feature. This combination of features and carefully selected content helped Spacetoon

Go to have a spike in viewership last year.

Despite the popularity of licensed content on Spacetoon Go and Spacetoon TV, the original content produced by Spacetoon is gaining more popularity in the region. Spacetoon fulfilled the market’s need for local content by creating animated and live production content.

In the last two years Spacetoon has produced Moshaya Family Animation, studios and companies such as Moonbug Entertainment, STUDIOCANAL, IMPS, Toei Animation, Silvergate Media, Guru Studio, and many more, all is delivered in Arabic dubbing through its online streaming service and TV channel. an animation based on Mohammed Moshaya’s and his kids’ stories, who are the top content creators in Saudi Arabia, with more than 22 million subscribers on YouTube alone. The animation show, which was nominated for three awards in MENA, got two seasons, and accumulated over 650 million impressions in its first season, paving the way for a second season.

In addition to Moshaya Family Animation, Spacetoon has produced many valuable short films and commercialbased animation shows in collaboration with international and regional NGOs and organizations such as World Health Organization, and local industry-leaders in Saudi Arabia.

Besides animation production, Spacetoon reached a new niche audience through its TV channel and VoD streaming service by producing a new gaming show. Game On is, a 20-minute, live production show featuring top gamers in the region with exclu- sive coverage and reviews. The show made a significant success and received an endorsement from top news gaming websites.

Likewise, Spacetoon offered moviegoers a variety of experiences by bringing in top anime and animation films, with different subtitle and dubbing options, matching all preferences and successfully climbing the box office.

On the other hand, Spacetoon successfully launched 30 themed events and three big festivals in several cities in the region in 2022, bringing entirely new concepts of edutainment to the area. Through these festivals and events, Spacetoon delivered a level of work that exceeded all expectations and imaginations, leaving both visitors and partners stunned.

It was also a successful year for Spacetoon Licensing team as they signed many deals with international licensors and regional clients and distributors, building a strong bridge to ultimately bring benefits to customers in the region.

This resulted in Spacetoon Licensing adding Blippi, CoComelon, Dragon Ball Super, and Bluey to its portfolio. With its long expertise in licensing industry in MENA and strong network, Spacetoon were able to provide creative solutions to boost the popularity of these brands and increase their visibility in stores and top entertainment festivals in the region.