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Omdia: Streaming video revenues in MENA to surpass $1.2bn in 2024

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LONDON, May 29, 2024 /PRNewswire/ — The Over-The-Top (OTT) video streaming market in the Middle East and North Africa (MENA) region experienced robust growth in 2023, with Omdia data reporting a 13% increase across the region and revenues exceeding $1 billion. Leading in this dynamic market are Shahid and StarzPlay, which dominate with significant market shares and innovative strategies.

The OTT market’s impressive growth in 2023 underscores the region’s increasing demand for digital entertainment, with revenues exceeding $1 billion. Strategic partnerships and bundle offerings have been key to this success, enhancing accessibility and content diversity. Omdia forecasts continued positive results, with revenues expected to reach $1.2 billion in 2024.

Year-round content production has mitigated seasonal subscription fluctuations in the MENA region, leading to higher subscription rates and reduced churn after Ramadan. Despite this, Ramadan remains a peak period for drama, with platforms like ADTV and Watch IT gaining significant popularity to meet regional demand.

Omdia’s research shows that Shahid, part of MBC, leads the MENA streaming video market with a 22% market share, amounting to 3.6 million subscribers by the end of 2023. Shahid’s strength lies in its extensive local Arabic content, which resonates deeply with regional audiences, especially during Ramadan.

StarzPlay follows closely with an 18% market share and 3 million subscribers. Identifying and filling content gaps in the region, has allowed StarzPlay to strengthen its competitive edge through their:

AVOD Launch: A soft launch in November 2023 followed by a full launch in February 2024.Exclusive Content: Highly anticipated series like “The Walking Dead: Dead City” having premiered in March 2024.Sports Content: Exclusive rights to major sporting events such as the Cricket Asia Cup (September 2023), Cricket World Cup (October 2023), IPL (May 2024), Rugby World Cup (October 2023), Six Nations (March 2024), and UFC (March 2024).

Speaking at CABSAT 2024, Dubai, Maria Rua Aguete, Senior Research Director at Omdia, remarked: “MENA is a growth area with huge potential. The top three players—Shahid, StarzPlay, and Netflix—each have unique strategies and complementary offerings. In the advertising space, FAST (Free Ad-Supported Streaming TV) is currently limited in this region, but we anticipate significant growth over the next four years, with global players like Samsung entering the market.”

Online video advertising presents the most significant growth opportunity, while MENA’s Pay TV expansion demonstrates how bundling can combat piracy. FAST channel revenues in MENA hit $7.2 million in 2023 and are poised for rapid growth. The future of streaming video services in the MENA region appears exceptionally promising, with Shahid and StarzPlay at the forefront of innovation and growth. The market is expected to continue its upward trend, offering a wider array of localized content to cater to the evolving preferences of Middle Eastern audiences.

ABOUT OMDIA

Omdia, part of Informa Tech, is a technology research and advisory group. Our deep knowledge of tech markets combined with our actionable insights empower organizations to make smart growth decisions.

 Fasiha Khan: Fasiha.khan@omdia.com

 

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SOURCE Omdia

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Quest Global & bp collaborate to further energy innovation

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BENGALURU, India, May 6, 2025 /PRNewswire/ — Quest Global, a leading global product engineering services company, has been chosen by bp, a global energy leader, to establish a dedicated center in Bengaluru in an initiative intended to support bp’s strategy of growing its upstream business and investing with discipline in the energy transition. 

Under the collaboration, Quest Global is identifying and onboarding talent to support bp’s projects across its production & operations and gas & low carbon energy businesses, aiming to advance innovation and deliver impactful solutions for bp’s global activities.  

The Bengaluru centre achieved the milestone of training its first 100 engineers in the last year and is now set to scale up. Work done at the centre will complement ongoing innovation work at bp’s existing hubs, including the Technical Solutions hub in Pune.  

Commenting on this collaboration, Ajit Prabhu, Co-founder & CEO, Quest Global, said, “We are honoured to be working with bp as it scales up its business and technology centres worldwide. With our unparalleled customer focus, proven partnership playbook, aligned culture and entrepreneurial mindset to deliver outcomes over output, I’m very confident towards a future with bp that positively impacts the energy industry.” 

About Quest Global:

At Quest Global, it’s not just what we do but how and why we do it that makes us different. We are in the business of engineering, but what we are really creating is a brighter future. For over 25 years, we’ve been solving the world’s most complex engineering problems. Operating in 18 countries, with over 84 global delivery centers, our 21,000+ curious minds embrace the power of doing things differently to make the impossible possible. Using a multi-dimensional approach, combining technology, industry expertise, and diverse talents, we tackle critical challenges faster and more effectively. And we do it across the Aerospace & Defense, Automotive, Energy, Hi-Tech, MedTech & Healthcare, Rail and Semiconductor industries. For world-class end-to-end engineering solutions, we are your trusted partner. 

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Logo: https://mma.prnewswire.com/media/1830310/Quest_Global_Logo.jpg

 

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Skanska builds data center project in Western USA for USD 164M, about SEK 1.7 billion

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STOCKHOLM, May 6, 2025 /PRNewswire/ — Skanska has signed a contract with an existing client for a data center project in Western USA. The contract is worth USD 164M, about SEK 1.7 billion, which will be included in the US order bookings for the second quarter of 2025.

The project is a 33,400 square meters (360,000 SF), 36-megawatt tenant improvement within an existing building shell, to be completed and turned over in four phases for the client.

Work will begin in June 2025 and is expected to be completed in June 2027.

For further information please contact:

Daniela Arellano, Communications Director, Skanska USA, tel +1 -213-317-4977

Andreas Joons, Press Officer, Skanska AB, tel +46 76 870 75 51

Direct line for media, tel +46 (0)10 448 88 99

This and previous releases can also be found at www.skanska.com.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skanska/r/skanska-builds-data-center-project-in-western-usa-for-usd-164m–about-sek-1-7-billion,c4145428

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SOURCE Skanska

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Broadridge Enhances OpsGPT®, introducing new Agentic Capabilities to Further Optimize Global Post-Trade Operations

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Key enhancements include inventory optimization, fails research, and email integration automation for better connectivity and outcomes

NEW YORK, May 6, 2025 /PRNewswire/ — Global Fintech leader Broadridge Financial Solutions Inc. (NYSE: BR), today announced significant enhancements to OpsGPT® across fails research, inventory optimization and email integration automation. With these enhancements OpsGPT delivers real-time operational intelligence and execution, enabling firms to better manage risk, capital, and drive greater operational efficiency.

“We are continuously innovating and evolving OpsGPT to optimize how clients can better operate and grow, particularly by unlocking Agentic capabilities to better manage risk, capital, and operational efficiency in today’s rapidly evolving trading environment,” said Quentin Limouzi, Global Head of Post Trade at Broadridge. “In response to shortened settlement cycles, escalating operational risks and increased cost of capital, firms need to invest in simplifying complex technology ecosystems and harmonize data to enable AI-powered automation.”

Key enhancements to OpsGPT:

Fails Research: Diagnoses root causes of settlement fails, providing instant, actionable insights and significantly reducing resolution timelines.Inventory Optimization: enables real-time global inventory management, proactively identifies mismatches and suggests asset transfers to maximize capital efficiency and save firms millions of dollars.Email Integration Automation: Interprets inbound operational emails, extracts context, retrieves relevant data from internal systems — drastically reducing response cycles.

OpsGPT has integrated agentic capabilities, where AI agents support Operations teams by converting data into actionable insights; improving decision-making, recommending optimal actions and executing workflows. By incorporating AI into its processes and harmonized data platform, Broadridge is establishing a foundation for comprehensive workflow orchestration throughout the post-trade lifecycle.

OpsGPT unlocks tangible benefits for clients, such as accelerated fail resolution, optimized capital deployment, and reduced operational expenses. By automating traditional manual processes, OpsGPT enhances productivity, strengthens risk management through real-time intelligence, and simplifies the user experience with intuitive interfaces and AI-powered communication tools. More information on the new enhancements can be found in our report launched today.  

The Power of Harmonized Data

A strong data foundation is central to implement successful AI powered automation throughout the trade lifecycle. Broadridge’s investments in BRx, a harmonized data ontology that standardizes and consolidates information globally across asset classes and systems, enables consistent interoperable data to flow seamlessly between front, middle and back-office functions – eliminating silos and laying the foundation for advanced analytics, automation and reporting across the global trade lifecycle.

OpsGPT leverages BRx harmonized data model to unlock the next level of Agentic capabilities to automate AI enabled operations, optimize capital, reduce risks and improve reporting

For more information on how OpsGPT® delivers real-time operational intelligence and execution that enables the future of post-trade processing now, please see here.

About Broadridge

Broadridge Financial Solutions (NYSE: BR) is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences. 

Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than $10 trillion of securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.

For more information about us, please visit www.broadridge.com.

Broadridge Contacts:

Investor Relations
broadridgeir@broadridge.com 

Media Relations
Gregg.rosenberg@broadridge.com 

 

 

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SOURCE Broadridge Financial Solutions, Inc.

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