Consumers in the Gulf subscribe to an average of three video-on-demand streaming services, according to a new report by global consultancy Oliver Wyman.
UAE audiences subscribe to the most VOD services at an average of 3.1 per person, followed by Saudi Arabia at 3 and Kuwait at 2.5.
In all three countries, less than a quarter of the respondents said they do not access any streaming service. This number was the lowest in the UAE at 12 percent and higher in Saudi Arabia at 20 percent and Kuwait at 22 percent.
Gulf consumers are among the most advanced in the world subscribing to an average of 2.9 services per person — second to the US where each person has an average of 4.7 subscriptions.
Moreover, the Gulf leads Europe and Canada where individuals have 2.6 and 2.8 subscriptions on average, respectively.
It is also the region that has the highest growth potential with 75 percent saying they expect to increase the number of VOD services they use compared with 37 percent in Europe and 29 percent in the US.
Within the Gulf, Saudi Arabia showed the highest appetite for growth among the 10 countries surveyed with 80 percent likely to increase subscriptions.
“This obviously represents a huge opportunity for streaming services in the country,” Nader Kobrosli, Oliver Wyman partner for communications, media and technology practice, told Arab News.
He attributed the growth potential in the Kingdom to “a general positive sentiment in the country, driven by the strong economic outlook and transformation” as well as the “young and digitally connected population, who will further drive the adoption of video streaming services in the future.”
In fact, the under-25 age group is the most likely to increase subscriptions, according to the survey.
“Despite having the lowest income bracket, under 25s are generally the first movers in the ‘shift to digital,’ so we expect them to continue to be the major driver of growth for video-on-demand subscriptions in the GCC,” Kobrosli added.
The Oliver Wyman Global Household Media survey canvassed more than 13,500 people in 10 countries: Saudi Arabia, the UAE, Kuwait, Australia, Canada, France, Germany, the UK and the US. Arab News