Tecom’s media cluster posts solid growth in 2013
Dubai, March 22, 2014
Tecom’s Media Cluster, incorporating Dubai Media City, Dubai Studio City and International Media Production Zone, witnessed significant growth over the course of 2013 and is now home to 2,000 business partners.
New leases and expansions signed during 2013 account for 622,000 sq. ft. of space being utilised, said the company in a statement.
Part of Tecom Investments, a member of Dubai Holding, Tecom’s Media Cluster welcomed 233 new business partners from across the media value chain into its portfolio, including Zawya Limited, Sidel and Thomson Video Networks.
The new additions include 33 production companies and 23 new media companies, highlighting the growth of these segments.
Contributing to the growth of new enterprises, 45 freelancers joined the media cluster, adding to the talent pool that services a large number of companies within the free zones.
The media hub also saw notable expansions among 165 of its existing business partners including international giants and regional leaders, Sony Music Entertainment Middle East, FRH, Arabian Radio Network and Publicis, it added.
Over the course of 2013, various sectors within the business park saw substantial growth, including printing consumables, which has grown by 233 per cent since 2012 and animation, which has recorded growth of 57 per cent.
At an operational level, Dubai Studio City (DSC) completed construction of its three soundstages, which are the largest of their kind in the Mena region and are specifically designed to meet the increasingly sophisticated needs of the entertainment industry, a segment with significant growth potential in the region, said the statement.
Sound Stage One plays host to MBC Group, who are committed to occupy and create world class Arabic content for five years. The second and third sound stages have already been utilised for a number of productions including Dubai TV and Studio Vision’s Arabic version of The Cube, a world-famous British game show which sees contestants completing challenges within a Perspex cube.
Mohammad Abdullah, the managing director, Tecom Media Cluster, said: "2013 was a very strong year for the Media Cluster with widespread growth and expansion across our three business parks. This is testament to the growth of Dubai’s wider economy, and the revival of confidence in Dubai after a positive 2013, which included winning the Expo."
"We are delighted to have welcomed such a large number of new business partners into our community, and that we have also been able to support our existing business partners in their growth and development," he explained.
According to him, a significant percentage of the newcomers are freelancers. "I am confident that we will be able to provide them with the infrastructure and support they need to grow their businesses. I believe that 2014 has the potential to be another year of strong growth for both the Media Cluster and the wider media industry in Dubai, particularly across digital, and the creation of world class Arabic content, and I am optimistic about Dubai’s continued growth as a strategic business hub," he added.-TradeArabia News Service