MENA's streaming battle
How local platforms like Shahid and StarzPlay are fending off Netflix and other global giants in the battle for eyes on screens
Jamie Lane & Zoe O Dwyer
October 02, 2024
Welcome back, and a very big hello to the 195 new subscribers who have joined FWDstart since our last deep-dive! š
In this weekās edition, weāre looking at how local streaming platforms like Shahid and StarzPlay are fending off Netflix and other global giants in the battle for eyes on screens.
Before kicking off, we wanted to heartily recommend checking out Yann Colleterās newsletter, The Streaming Lab, which covers the streaming industry in the MENA region on a weekly basis. It served as an invaluable resource whilst researching the space, and was formative in wrapping our heads around the market.
Okay, popcorn at the ready šæ
Late last year, two of the MENA regionās leading streaming platforms decided it was time to team up.
Elie Habib (Anghami) and Joe Kawkabani (OSN+)
OSN+, one of the regionās premier streaming platforms, with an exclusive catalogue from HBO and Paramount+ and 2.5 million+ paying subscribers, joined forces with Anghami, the Arab worldās answer to Spotify, boasting over 100 million songs and 120 million registered users.
Bundling music and movies under one umbrella is a smart, strategic play.
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Itās the kind of consolidation that makes perfect sense in a fragmented market, where over 40 local streaming platforms are vying for any competitive advantage.
But is streaming really that big of a deal in MENA?
Yes. It most definitely is.
The regionās demographics alone make streaming a no-brainer.
While much of the world worries about aging populations, MENA is young and growing š
More than 55% of MENAās population is under 30, compared to just 36% in OECD countries.
The region's population is projected to increase by 42% to 700 million by 2050.
Internet (90%) and smartphone penetration (97%) are among the highest in the world.
Itās a perfect storm for digital media consumption.
Early movers like Shahid, StarzPlay, Netflix, and OSN+ have already captured significant attention through exclusive content and vast libraries.
But they arenāt alone.
In recent years, platforms like WATCH IT, TOD, Apple TV+, and Disney+ have also entered the race.
So, how much room is there for streaming to grow?
To put that into perspective, the US was at 81% at the same time.
In other words, the director has only just called āaction!ā
And this is the cast of stars you need to be keeping an eye onā¦
š¬ State of play
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