The Arab world spans five time zones - as do the Middle East's numerous satellite television channels.
Unlike in most other parts of the world, the majority of Arab TV channels are broadcast across the entire region, from Morocco to Oman, with the same programmes and advertisements shown at the same time.
This is despite huge differences in the various Arab countries, in everything from dialects to economic development and consumer habits.
There are many locally focused channels broadcast across the region, such as Abu Dhabi TV and Dubai TV. But the biggest and most commercially successful channels tend not to target specific markets.
This has huge implications for the region's television advertising industry, which some experts estimate was worth US$1 billion (Dh3.67bn) last year.
That is because it is impossible for advertisers to target audiences effectively using the largest satellite channels: what gets beamed to rural Tunisia is the same content as urban Dubai receives.
Likewise, it is difficult for the free-to-air channels to fully exploit the commercial potential of prime-time advertising slots because when it is 8pm in Casablanca, it is midnight in Muscat.
Some commentators say that stronger demand for more localised broadcasts could present a challenge to the leading players in the satellite TV industry, such as MBC and ART. While these broadcasters create much of their own content, they also transmit a lot of western programmes dubbed in Arabic.
"The pan-regionals have had their day. And I think that you will see a lot more local [channels]," said Saad Mohseni, the chairman of Moby Group, Afghanistan's largest media company.
"I think MBC and others will struggle because for how long will people watch dubbed content? People want to see their local stuff," he said.
Mr Mohseni said Moby Group planned to launch five channels outside Afghanistan over the next 18 months, focusing on the Middle East and South Asia markets. He said local shows appealing to local TV audiences was the way forward.
"I think you will see a shift from pan-regional to country-specific channels … I think that people need to see characters that are reflections of themselves on television," said Mr Mohseni. "'Pan' anything doesn't work … People need local shows. It's as simple as that."
However, some other media executives see the future of Middle East broadcasting in a different light.
Mazen Hayek, the official spokesman and group director of public relations and commercial at the free-to-air TV operator MBC Group, said the pan-regional model would remain dominant in the short term.
David Butorac, the chief executive of the pay-TV operator Orbit Showtime Network (OSN), which transmits identical broadcasts across several regional markets, said there was a need for more local content. "Television in just about every market is a very parochial product," he said.
He said that while he believed demand for pan-regional broadcasts would continue, OSN planned to tailor international content to different countries, as well as produce more localised programmes.
"It could still be pan-regional content, but you need to make sure you personalise it," he said. "As we grow, we will be developing content that is specific for markets."
More locally focused channels could boost the amount of advertising spending in the region, said Jawad Abbassi, the founder and general manager of Arab Advisors Group.
A greater number of local channels could encourage more spending by local companies. "I think it would be a positive shot in the arm for advertising spend on TV," said Mr Abbassi.
However, he said he "would strongly disagree" with the idea that the pan-regional broadcasters could be toppled, given the continued strong demand for general pan-regional content.
Part of the challenge in making TV more local is technological. Currently, there are no "spot beams" in the region. This technology allows satellite broadcasters to send different signals to different areas. That would allow broadcasters to create local programming and sell market-specific advertising. Mr Abbassi said "eventually, I think we will have some spot beams", while other commentators said discussions had been held on the topic.
Another technological advance is internet protocol TV (IPTV), which has been launched in several regional markets such as the UAE., This also enables the targeting of content and advertising.
Mazen Nahawi, the founder and president of News Group International, a news management and monitoring company in Dubai, said IPTV "will benefit viewers, advertisers and broadcasters collectively".
But he disagreed with the notion that pan-Arab broadcasters could lose their grip on the market because of the lack of local channels.
"Does that mean the end of pan-Arab programming and the decline of pan-Arab broadcasters? I would say absolutely not," he said.
"Audiences want both strong pan-national and local broadcasting, and it is best when they work together."
The number of TV channels in the Arab world:
487 free-to-air satellite
Almost 500 free-to-air satellite TV stations in the Arab world vie for a share of the audience and, of course, ad revenue. According to the Arab Advisors Group, there were 487 free-to-air channels in the Arab world as of April last year. About 80 per cent broadcast in Arabic. Commentators point out that the majority of these channels are not profitable. Many are government-controlled, used for political ends, or are vanity projects. Despite this, Jawad Abbassi, the founder and general manager of Arab Advisors Group, last year said he expected the number of stations to rise to about 550.
124 pay-TV satellite
The three biggest pay-television networks in the region have a total of 124 channels, according to Arab Advisors. Orbit Showtime Network has 82 pay-TV channels and three pay-per-view channels, while ART has 24 channels and Al Jazeera Sports operates 15, according to an Arab Advisors report published late last year. However, the report said “viewers seem to favour the free content of free-to-air channels rather than paying for TV content”. Other players in the market include the Abu Dhabi Sports channels owned by the Abu Dhabi Media Company, which also owns and publishes The National.
138 terrestrial
There are 138 terrestrial TV stations broadcasting in 19 Arab countries, according to Arab Advisors. Before the advent of satellite television, local terrestrial broadcasts were the "main source of entertainment and information for people in the Arab World", the group said. More than 50 per cent of the terrestrial stations are in the Palestinian Territories, Iraq and Egypt. The vast majority of the terrestrial stations in the 19 surveyed countries are fully government owned. But the majority of Palestinian Territories' and Iraqi terrestrial TV channels are privately owned.
* compiled by Ben Flanagan
bflanagan@thenational.ae
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Sholto Byrnes on Myanmar politics
Dr Amal Khalid Alias revealed a recent case of a woman with daughters, who specifically wanted a boy.
A semen analysis of the father showed abnormal sperm so the couple required IVF.
Out of 21 eggs collected, six were unused leaving 15 suitable for IVF.
A specific procedure was used, called intracytoplasmic sperm injection where a single sperm cell is inserted into the egg.
On day three of the process, 14 embryos were biopsied for gender selection.
The next day, a pre-implantation genetic report revealed four normal male embryos, three female and seven abnormal samples.
Day five of the treatment saw two male embryos transferred to the patient.
The woman recorded a positive pregnancy test two weeks later.
MATCH INFO
Real Madrid 2
Vinicius Junior (71') Mariano (90 2')
Barcelona 0
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Biog
Mr Kandhari is legally authorised to conduct marriages in the gurdwara
He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada
Father of two sons, grandfather of six
Plays golf once a week
Enjoys trying new holiday destinations with his wife and family
Walks for an hour every morning
Completed a Bachelor of Commerce degree in Loyola College, Chennai, India
2019 is a milestone because he completes 50 years in business
UAE currency: the story behind the money in your pockets
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
The Florida Project
Director: Sean Baker
Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe
Four stars
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 240hp at 5,500rpm
Torque: 390Nm at 3,000rpm
Transmission: eight-speed auto
Price: from Dh122,745
On sale: now
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Letswork%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EOmar%20Almheiri%2C%20Hamza%20Khan%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20co-working%20spaces%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%242.1%20million%20in%20a%20seed%20round%20with%20investors%20including%20500%20Global%2C%20The%20Space%2C%20DTEC%20Ventures%20and%20other%20angel%20investors%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20about%2020%3C%2Fp%3E%0A
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
