OZY Media sees "exponential growth" from MENA in entertainment, media

Mubasher: The global media pioneering company, OZY Media, said it will increase its focus on the entertainment and media industry across the MENA region, seeing unique media platforms that engage worldwide curious young minds to dominate the media sector.

Global media industry is expected to see exponential growth by 10% year-on-year at $6 trillion from $792 billion by 2030, said a press release on Monday.

Quickly emerging as “the news source of choice”, OZY managed to offer “future-focused news and culture” through its four-part media business offers whether on television, in person (via festivals), on podcasts, or online.

While about 10% of the media firm's customers come from the Middle East, the region is still yet home to OZY’s fastest-growing consumer base outside the United States, with an expected higher revenue by 500% between 2020 and 2022.

To meet this growth, OZY plans to inject further investments and to bring its diversified platform to MENA.

Commenting on this, OZY’s co-founder and CEO, Carlos Watson, said, “The region, especially in Saudi Arabia and the UAE, is undergoing a meaningful, creative transformation when it comes to entertainment and media.”

“Supported by economic diversification plans, and buoyed by young, fast-growing and highly connected audiences, a whole new opportunity in media is emerging and OZY will be here to participate and bring a fresh perspective to this development,” he added.  

Samir Rao, co-founder of OZY Media with former CNN and MSNBC anchor and Goldman Sachs colleague Carlos Watson, said, “The next generation of media companies that will shape our global conversation is being built now, and there couldn’t be a more important time, both culturally and commercially, to be innovating in and committing to media."

“In order to succeed, we believe that media platforms need to meet the audience of the future with fresh “new and next” perspectives, delivered in smart, stylish flavourful ways — wherever they are — online, on-air and in person. That has been what has set OZY apart so far,” he added.

Source: Mubasher Source: {{details.article.source}}