DUBAI: Arabic content platform Shahid VIP will continue to lead the streaming market in the Middle East and North Africa region for the next five years, outperforming local and international competitors, according to market research firm Dataxis.
The streaming industry has grown rapidly with a 30 percent increase in subscribers between 2020 and 2021. The current number of subscribers is close to 10 million and was expected to reach 30 million by 2026.
In 2021, StarzPlay, Netflix, and Shahid VIP were the market leaders commanding more than 60 percent of the share of subscribers. However, going forward, Shahid VIP was expected to lead, followed by Netflix, with each forecasted to hold more than 20 percent market share by 2026.
Shahid VIP had more than 2 million subscribers in 2021, with the number predicted to reach nearly 3 million by the end of this year, and 7 million by the close of 2026 — ahead of all other players.
Natasha Matos-Hemingway, chief commercial and marketing officer at Shahid, said: “As always, we are absolutely delighted with Shahid VIP’s achievements — our position as the market leader in the region is, by no means, a privilege we take lightly.
“Rather, it is testament to our continuous focus on our audiences, bringing the best and most diverse premium Arabic stories to multiple screens in the region and beyond, along with high-quality partnerships with major brands — from news and drama to entertainment and sport from around the world,” she added.
The states covered by the Gulf Cooperation Council make up the biggest percentage of streaming service users, according to the Dataxis report, with approximately 3 million subscribers in Saudi Arabia and more than 2 million in the UAE.