Saudi spending on advertising exceeds SR 4.4 bn in 9 months

Updated 06 November 2012

Saudi spending on advertising exceeds SR 4.4 bn in 9 months

RIYADH: Advertising spending in Saudi Arabia topped SR 4.4 billion ($ 1 billion) during the first three quarters of the year and accounted for 29.9 percent of total GCC ad spending.
Numbers released by the Pan-Arab Research Center (PARC) show the United Arab Emirates were the biggest spenders at $ 1.1 billion, contributing to GCC totals by 32 percent, while Kuwait spent $ 759 million or 21 percent and Qatar spent $ 340 million or 9.4 percent of GCC totals.
Oman and Bahrain contributed 5.5 percent and 1.9 percent to overall GCC ad spending with campaigns valued at $ 199 million and $ 69 million respectively.
The volume of ad spending in GCC countries rose by 5.6 percent in the first three quarters to reach $ 3.5 billion compared to $ 3.4 billion during the same period last year.
Egypt and Saudi Arabia posted a double-digit growth while the total measured spending during the period reached $ 12.7 billion compared to $ 10.4 billion last year. The period during Ramadan accounted for nearly $ 2.4 billion.
Sami Raffoul of PARC said advertising growth over the past year has been led primarily by the UAE, Saudi Arabia, Kuwait and Qatar. Raffoul said the Saudi economy has reportedly fuelled growth in pan-Arab media including TV services from MBC, Rotana, LBC and the Abu Dhabi Media Company. “Saudi Arabia is the largest of all markets with limited media capabilities,” he added.
He predicted pan-Arab ad spending would rise this year about 25 percent on 2011, although this could hide deep discounting by broadcasters in free media zones.
Egypt lost ground in 2011 in the aftermath of the revolution and political uncertainty but has bounced back with an 18-20 percent growth this year.
Raffoul said a number of broadcasters to have emerged from post-revolutionary Egypt have developed multichannel bouquets that have attracted a wide audience elsewhere in the region. These channels have also captured a significant portion of the pan-Arab advertising market.
TV ads captured the lion’s share of the pan-Arab ad market during the first three quarters by 68.6 percent or $ 8.7 billion, followed by newspaper ads at 21.2 percent or $ 2.7 billion, and magazines at 4.5 percent or $ 579 million.

King Salman meets GCC leaders for 40th Gulf summit in Riyadh

Updated 17 min 56 sec ago

King Salman meets GCC leaders for 40th Gulf summit in Riyadh

  • Heads of the delegations land in Riyadh before the 40th Supreme Council meeting gets under way
  • Among the many issues expected to be discussed is a greater level of integration between Gulf countries

RIYADH: GCC leaders arrived in Riyadh Tuesday for a summit that will focus on improving integration between Gulf countries.

The 40th Supreme Council meeting will be chaired by King Salman, who met the representatives from each country as they landed.

The heads of the delegations including the UAE Vice President and Prime Minister Sheikh Mohammed bin Rashid Al-Maktoum, Bahrain's King Hamad bin Isa Al-Khalifa, Oman's Deputy Prime Minister for the Council of Ministers Fahd bin Mahmoud Al-Said and Qatar's Prime Minister Sheikh Abdullah bin Nasser bin Khalifa Al-Thani.

GCC Secretary General Dr. Abdullatif Al-Zayani said Gulf leaders will discuss a number of important issues to enhance the process of cooperation and integration among member states in various political, defense, security, economic and social fields.

They will also review regional and international political developments, security conditions in the region, and their implications for the security and stability of the GCC countries.

Among the topics on the agenda is the war in Yemen and Iran’s interference in regional affairs.

At a preparatory meeting on Monday, Gulf foreign ministers approved the nomination of former Kuwaiti Finance Minister Nayef Al-Hajraf as the next secretary-general of the GCC.

His term will begin in April 2020 following the end of Al-Zayani’s term.