The internet is changing the way we view television.
Already, about 10 regional Web television services have been launched as more viewers in the Arab world watch films and TV series online.
Traditional stations still rule the airwaves, with business expected to be worth up to US$2.5 billion (Dh9.18bn) this year, but they now face fresh competition.
In a brave new high-tech world, TV networks are being forced to adapt as a number of young, agile regional start-ups break into the online market.
These include Cinemoz, Shofha.com and Istikana, which features more than 3,000 hours of Arabic series and films and is available on the internet free of charge.
"Web TV will completely revolutionise how video content is distributed and consumed," says Samer Abdin, the co-founder of Istikana.
"In markets like the US, it's gaining momentum pretty quickly. Here, we're a couple of years behind. But it's just a matter of time."
Arab internet customers are among the world's hungriest for online video. Sites such as YouTube are booming in the region, with viewers in Saudi Arabia ranking among the world's biggest users of the video-sharing site.
But old-fashioned broadcasters have been quick to respond, with OSN and MBC rolling out Web-based services.
"It's not that broadcasters are going to die, it's that they need to adapt," says Nick Grande, the managing director of ChannelSculptor, a television consultancy in Dubai.
Mr Grande points to British Sky Broadcasting (BSkyB) in the United Kingdom, which has started broadcasting its channels on tablets, smartphones and laptops via a service called Sky Go.
"[That shows] conventional broadcasters can become major players in the internet space," he says.
Here, OSN, which is based in Dubai, is one regional broadcaster to have embraced internet TV. In March, it launched OSN Play, an online "catch-up" service for its TV series and films.
"OSN Play is strategically a very important move for [the company]," says Mr Grande. "If they don't do it, somebody else will."
The Web TV service is available on PCs and laptops, and OSN plans to provide it on smartphones, the iPad and gaming consoles.
Emad Morcos, the vice president of business development and strategy at OSN, revealed that the broadcaster was also looking to get OSN Play into customers' living rooms.
The broadcaster is in talks with regional telecommunications companies to carry OSN Play on their cable TV services, and it is also in discussions with electronics manufacturers to put it on internet-enabled TVs.
Electronics manufacturers, notably Samsung, have been keen to push "smart" TVs, some of which feature application stores similar to those linked to smartphones such as the iPhone.
Mr Morcos said he saw "significant" potential in people using apps to view TV in the future.
"Inevitably, more and more people will be using apps, whether it be on a connected TV, tablet or laptop," he says.
But then, the living room will be the real battleground for the new players in the TV industry.
The rise of the connected TV, with apps for different channels, could mean that Google or Samsung becomes as powerful in the TV business as the likes of MBC or OSN.
"People are going to try to recreate the Apple App Store with TV," says Mr Abdin. "That will be your main interface to get to all this content."
Yet, despite the rise of internet TV, on-demand video and channel apps, there will still be a role for regular stations.
"Where [it] will always have a place is on live events, news, and probably first airings. You aggregate a lot of people at the same time, and I think advertisers like that," says Mr Abdin.
MBC, the Arab world's biggest broadcaster, is also broadcasting its shows online.
Its Shahid.net service, which is free and supported by advertising, claims to have had almost 3 million individual users in March. It is available on PCs, and an iPad application is about to be launched.
Abe Naga, the online business manager at MBC, says most of the broadcaster's shows are available on Shahid.net.
"Our plan is to become a catch-up service for TV in general. We are currently in the process of signing up more channels," he says. "We're starting to see a lot of interest from the market. Video advertising is one of the buzzwords of the year."
Despite the rise of Web TV, Mr Naga says there will always be a role for regular TV stations: "I don't see online overtaking television, but I see them working together."
bflanagan@thenational.ae
If you go
Flying
Despite the extreme distance, flying to Fairbanks is relatively simple, requiring just one transfer in Seattle, which can be reached directly from Dubai with Emirates for Dh6,800 return.
Touring
Gondwana Ecotours’ seven-day Polar Bear Adventure starts in Fairbanks in central Alaska before visiting Kaktovik and Utqiarvik on the North Slope. Polar bear viewing is highly likely in Kaktovik, with up to five two-hour boat tours included. Prices start from Dh11,500 per person, with all local flights, meals and accommodation included; gondwanaecotours.com
Killing of Qassem Suleimani
Match info
Manchester City 3 (Jesus 22', 50', Sterling 69')
Everton 1 (Calvert-Lewin 65')
How to help
Donate towards food and a flight by transferring money to this registered charity's account.
Account name: Dar Al Ber Society
Account Number: 11 530 734
IBAN: AE 9805 000 000 000 11 530 734
Bank Name: Abu Dhabi Islamic Bank
To ensure that your contribution reaches these people, please send the copy of deposit/transfer receipt to: juhi.khan@daralber.ae
THE BIO
BIO:
Born in RAK on December 9, 1983
Lives in Abu Dhabi with her family
She graduated from Emirates University in 2007 with a BA in architectural engineering
Her motto in life is her grandmother’s saying “That who created you will not have you get lost”
Her ambition is to spread UAE’s culture of love and acceptance through serving coffee, the country’s traditional coffee in particular.
Race card
6.30pm: Handicap (TB) $68,000 (Dirt) 1,200m
7.05pm: Meydan Cup – Listed Handicap (TB) $88,000 (Turf) 2,810m
7.40pm: UAE 2000 Guineas – Group 3 (TB) $125,000 (D) 1,600m
8.15pm: Firebreak Stakes – Group 3 (TB) $130,000 (D) 1,600m
9.50pm: Meydan Classic – Conditions (TB) $$50,000 (T) 1,400m
9.25pm: Dubai Sprint – Listed Handicap (TB) $88,000 (T) 1,200m
RESULTS
6.30pm: Longines Conquest Classic Dh150,000 Maiden 1,200m.
Winner: Halima Hatun, Antonio Fresu (jockey), Ismail Mohammed (trainer).
7.05pm: Longines Gents La Grande Classique Dh155,000 Handicap 1,200m.
Winner: Moosir, Dane O’Neill, Doug Watson.
7.40pm: Longines Equestrian Collection Dh150,000 Maiden 1,600m.
Winner: Mazeed, Richard Mullen, Satish Seemar.
8.15pm: Longines Gents Master Collection Dh175,000 Handicap.
Winner: Thegreatcollection, Pat Dobbs, Doug Watson.
8.50pm: Longines Ladies Master Collection Dh225,000 Conditions 1,600m.
Winner: Cosmo Charlie, Pat Dobbs, Doug Watson.
9.25pm: Longines Ladies La Grande Classique Dh155,000 Handicap 1,600m.
Winner: Secret Trade, Tadhg O’Shea, Ali Rashid Al Raihe.
10pm: Longines Moon Phase Master Collection Dh170,000 Handicap 2,000m.
Winner:
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
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.”
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
'Munich: The Edge of War'
Director: Christian Schwochow
Starring: George MacKay, Jannis Niewohner, Jeremy Irons
Rating: 3/5
Killing of Qassem Suleimani
Sinopharm vaccine explained
The Sinopharm vaccine was created using techniques that have been around for decades.
“This is an inactivated vaccine. Simply what it means is that the virus is taken, cultured and inactivated," said Dr Nawal Al Kaabi, chair of the UAE's National Covid-19 Clinical Management Committee.
"What is left is a skeleton of the virus so it looks like a virus, but it is not live."
This is then injected into the body.
"The body will recognise it and form antibodies but because it is inactive, we will need more than one dose. The body will not develop immunity with one dose," she said.
"You have to be exposed more than one time to what we call the antigen."
The vaccine should offer protection for at least months, but no one knows how long beyond that.
Dr Al Kaabi said early vaccine volunteers in China were given shots last spring and still have antibodies today.
“Since it is inactivated, it will not last forever," she said.
UAE currency: the story behind the money in your pockets
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