The MENA region will grow significantly in the next five years according to a new report by Digital TV Research. The research analyst has published a new study which forecasts that regional SVoD subscribers will reach 20.8 million by 2023, up from the current 5.22 million subs at the end of 2017.
From the 20 countries covered in the Middle East & North Africa OTT TV & Video Forecasts report by Digital TV Research, Turkey will remain the largest market with nearly a third of the region’s subscribers, at 6.72 million.
The forecast report by Digital TV Research predicts that Netflix will outperform other platforms to dominate the MENA region in Arabic speaking countries by 2023. From its regional total of 7.41 million, Netflix will have 3.57 million subscribers in Arabic-speaking countries by 2023 says the report.
Digital TV's forecast predicts this will be more than its nearest rival Starz Play (2.80 million).
Simon Murray, Principal Analyst at Digital TV Research, said: “Netflix is dominant across the MENA region. This is partly because it operates in more territories than its Arabic competitors – it has significant subs bases in Israel and Turkey. However, its success is down to more than geographic reach. The global appeal of its original content has spread throughout the region.”
The top eight multinational platforms (Netflix, Amazon Prime Video, Icflix, Starz Play, Iflix, Wavo, beIN Connect and Shahid Plus) will account for three-quarters of the region’s SVoD subscribers by end-2023, up from 56 per cent in 2017. Excluding the countries of Israel and Turkey from the MENA numbers, these eight platforms are predicted to have a market share of up to 91 per cent of SVOD subscribers.