First YouTube Space in MENA region launched at Dubai Studio City

The Space is dedicated to YouTube content creators.
Updated 19 March 2018
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First YouTube Space in MENA region launched at Dubai Studio City

YouTube announced on Sunday the opening of the Middle East and North Africa’s first YouTube Space at Dubai Studio City, a facility dedicated to supporting the growing creator community in the region by giving them access to a state-of-the-art production space.
The Space, the 10th in the world, is dedicated to YouTube content creators who will have free access to high-end audio, visual and editing equipment in addition to training programs, workshops and courses. More than 440,000 creators have visited nine YouTube Spaces around the world since the program first launched in 2012.
“Creators are the heartbeat of YouTube and supporting them has long been one of our most important priorities. We’re proud of the meteoric rise of Arabic content on YouTube, which has been spearheaded by a diverse and growing community of creators from different parts of the Arab world. We want the YouTube Space in Dubai to be a hub where creators don’t just continue to make the videos millions of people have grown to love but to also experiment with new formats and ideas made possible by the Space’s production facilities.
As a platform, YouTube provides a blank canvas for creative expression and the Space will be one of the tools creators use to tell their own stories,” said David Ripert, head of YouTube Spaces in Europe, Middle East, and Africa.
“We are very pleased to be selected as a hub for the region’s first YouTube space. In today’s world, content creation is very valuable and depicts meaningful content to the public. With the launch of the YouTube space, Dubai Studio City aims to cultivate a collaborative environment where like-minded people can create innovative content, which can cross borders and impact a wide and diverse audience,” said Majed Al-Suwaidi, managing director of Dubai Studio City.
The Spaces program is designed to support creators of all levels. Channels with 1,000 subscribers or more will have access to the workshops and events held at the Space; creators with more than 10,000 subscribers will be able to access the production facilities which include two sound-proof studios, editing equipment, state-of-the-art cameras and microphones, as well as a control room.


Mobily quarterly loss down by 49%

Updated 26 April 2018
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Mobily quarterly loss down by 49%

Saudi telecom provider Mobily decreased its quarterly losses in Q1 2018 by 49 percent to SR93 million ($24.84 million) compared with SR182 million in Q4 2017. This was mainly due to a growth of revenues driven by a better mix of products mainly from data, the increase of efficiency in managing operational expenses, the impact of implementing IFRS 9 and 15, and the reversal of certain provisions that are no longer required, according to the company.

Revenues improved for the second consecutive quarter reaching SR2,833 million in Q1 2018 compared with SR2,827 million in Q4 2017, a slight increase of 0.2 percent, despite the following:

l The impact on sales at the beginning of the year due to the implementation of the value-added tax (VAT). 

l The reduction in interconnection rates by 45 percent.

l The seasonality of handset sales, and its increase in Q4 2017.

l The seasonal decrease related to the number of days in Q1. 

Without the decrease of the interconnection rates, revenues would have grown by 2 percent.

Mobily’s gross profit increased in Q1 2018 by 6.6 percent to SR1,663 million compared with SR1,560 million in Q4 2017. This increase is mainly due to the reduction in interconnection rates during Q1 2018 compared with those of Q4 2017 and the reduction in equipment costs in Q1 2018 compared with Q4 2017.

Mobily managed to grow its revenues for the second consecutive quarter. Q1 2018 revenues slightly decreased by one percent (SR33 million) to SR2,833 million compared with SR2,865 million in Q1 2017. Mobily achieved a stable level in revenues despite the general economic and regulatory changes, including the impact on sales in the beginning of the year due to the implementation of VAT, and the reduction in interconnection rates by 45 percent.

Without the decrease of the interconnection rates, the revenues would have grown by one percent year over year.

The gross profit stabilized at SR1,663 million in Q1 2018 compared to SR1,665 million in Q1 2017 with a slight decrease by 0.12 percent, despite the slight decrease in revenues.