Tecom Media Cluster sees 284 new firms in 2011
Dubai, February 15, 2012
Tecom Investments’ Media Cluster announced it has experienced steady growth in the number of companies registered in 2011 with 284 companies setting up base at the cluster.
The Media Cluster includes Dubai Media City (DMC), Dubai Studio City (DSC) and International Media Production Zone (IMPZ).
Key segments that saw new additions at Tecom Media Cluster in 2011 include freelancers, consultancy, event management, media and marketing services, new media as well as television, film and radio production.
Digital audio firm Dolby Laboratories, Sony Pictures (CPT Holdings, Columbia), Fremantle Media, Scholastic, Christie + Co and Groupon are among the top global brands that established their operations at the Tecom media free zones.
In 2011, Tecom Media Cluster also saw its business partners including ITP Publishing Group, MBC (Middle East Broadcasting Center), Leo Burnett, outdoor advertising specialist JCDecaux and digital printers Costra Group expanding their commercial and business operations.
“The year 2011 has proved positive for us. 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, Tecom Investments’ Media Cluster.
“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.”
Total ad spend in the Arab-speaking media market (including GCC, Levant and Pan-Arab media) in 2011 was $14.3 billion, compared to $13.7 billion in 2010, marking a four per cent year-on-year increase.
UAE- and Saudi Arabia-based media also saw an increase in ad spend of 1 per cent and 9 per cent respectively during the same period.
However, no significant downturn is expected in the content-production space.
According to a recent study by the Arab Advisors Group’s on TV Series Production Houses in the Arab world, a sample set of 26 production houses in the GCC, Egypt, Jordan, Lebanon, and Syria were seen to have produced 47 television series productions in the first nine months of 2011, compared to 57 in 2010.
Abdullah added: “The media environment in the Middle East is rapidly changing, buoyed by new satellite channels, the Internet and new media that offer more choice and alternative information to encourage industry reforms.”
“Investors across the new media value-chain are particularly looking at areas such as content creation and delivery. With the media poised to serve as a platform to promote public debate, transparency, accountability 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,” he added. – TradeArabia News Service