Key regions: United Kingdom, Germany, South Korea, Asia, India
The OTT Video market in Saudi Arabia has been experiencing significant growth in recent years.
Customer preferences: Saudi Arabia has a young and tech-savvy population, with a high smartphone penetration rate. This has led to a growing demand for online video content, as consumers increasingly turn to OTT platforms for their entertainment needs. The convenience and flexibility offered by OTT services, such as the ability to watch content anytime, anywhere, and on any device, have made them extremely popular among Saudi consumers.
Trends in the market: One of the key trends in the OTT Video market in Saudi Arabia is the increasing popularity of local content. Saudi Arabia has a rich cultural heritage and a thriving film industry, and there is a growing demand for content that is relevant to the local audience. OTT platforms are capitalizing on this trend by investing in the production and acquisition of local content, which is attracting a large number of subscribers. Another trend in the market is the rise of video-on-demand services. Saudi consumers are increasingly opting for on-demand content, as it allows them to watch their favorite shows and movies at their own convenience. This has led to a decline in traditional linear TV viewership, as more and more people are cutting the cord and switching to OTT platforms.
Local special circumstances: Saudi Arabia has a relatively low cinema penetration rate compared to other countries in the region. This has created a gap in the market, which OTT platforms are filling by offering a wide range of movies and TV shows. Additionally, the recent lifting of the ban on cinemas in Saudi Arabia has created new opportunities for OTT platforms to collaborate with local cinemas and offer exclusive content to their subscribers.
Underlying macroeconomic factors: The growth of the OTT Video market in Saudi Arabia can be attributed to several underlying macroeconomic factors. Firstly, the country has a high disposable income, which allows consumers to spend more on entertainment. Secondly, the government has been actively promoting the digital economy and investing in infrastructure development, which has facilitated the growth of the OTT market. Finally, the increasing internet penetration rate and the availability of high-speed internet connections have made it easier for Saudi consumers to access OTT platforms and stream video content. In conclusion, the OTT Video market in Saudi Arabia is witnessing significant growth, driven by customer preferences for convenience and local content, as well as the underlying macroeconomic factors. With the increasing popularity of OTT platforms and the rising demand for online video content, the market is expected to continue its upward trajectory in the coming years.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Traditional TV & Home Video and OTT (over-the-top) Services. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.Modeling approach / market size:
The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.
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