'Stranger Things' 4 breaks Netflix viewing records

The newest volume of Stranger Things has set new Netflix viewership records after its much-anticipated return following a three-year break.

The premiere weekend of the fourth season of the Netflix Original recorded 286.7 million hours viewed, surpassing Bridgerton season two, which reached 193 million hours.

This is also the first season of Stranger Things to reach No 1 in 83 countries, setting another premiere weekend record. The series reached the Top 10 in all 93 countries Netflix tracks.

In addition to the show, a number of songs that were used over the course of the seven episodes have also increased in popularity.

On Monday, Spotify also announced that there was an 8,700 per cent increase in global streams of the song and a 9,900 per cent increase in the US. Since the Stranger Things 4 premiere, there has been a more than 1,600 per cent increase in global streams of Bush’s back catalogue.

Stranger Things was released on the streaming platform in 2016 and has since gone on to become one of Netflix’s biggest franchises, while making stars out of its young cast.

Ahead of the show's return, the creators and producers, brothers Matt and Ross Duffer, said in a statement that Stranger Things 4 was the "most challenging" one yet.

"With nine scripts, over 800 pages, almost two years of filming, thousands of visual effects shots, and a runtime nearly twice the length of any previous season, Stranger Things 4 was the most challenging season yet, but also the most rewarding one. Everyone involved is incredibly proud of the results, and we can’t wait to share it with you."

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

'Stranger Things' 4 breaks Netflix viewing records

The show has had the biggest premiere weekend in terms of viewership hours

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