“Abu Dhabi Hopes High For Media Forum”
In the March 8, 2010 issue of The Financial Times, Booz & Company Partner Karim Sabbagh (Middle East) said behind the success of the inaugural Abu Dhabi Media Summit were executives drawn by underdeveloped media markets with demographic and digital growth dynamics that their home countries may never again be offered. The Middle East and North Africa region represents “one of the few markets where media (revenues are) still growing in double digits, even in traditional spaces,” Sabbagh said. The region’s media and entertainment markets should nearly double from $14.1 billion in 2009 to $26 billion by 2013, according to Booz & Company research, while broadband subscriber numbers should grow by 30 per cent per year for the next four years. Sabbagh spoke on the eve of the Summit, which drew some of the industry’s biggest “old” and “new” media leaders and helped establish the UAE as the hub from which media companies can tap into the growth offered by Arabic-speaking markets.