Digital media adoption in the region is high compared to others, according to a new report by RedSeer. Alamy
Digital media adoption in the region is high compared to others, according to a new report by RedSeer. Alamy
Digital media adoption in the region is high compared to others, according to a new report by RedSeer. Alamy
Digital media adoption in the region is high compared to others, according to a new report by RedSeer. Alamy

Mena users spend an average 90 minutes daily with short-form content online


Mary Sophia
  • English
  • Arabic

Online users in the Middle East and North Africa consume a large amount of short-form content, spending an average of 90 minutes daily with it, according to a report by management consultancy RedSeer.

Digital media adoption in Mena is high compared to other regions, with users spending about two to two-and-a-half hours daily on social media apps and messaging platforms, a report titled Short-form: The Next Disruption in Digital Media said.

Short-form content is typically considered to be content of fewer than 1,200 words in length. They are usually in formats that are easily understandable and visually appealing to users. It makes up for 15 per cent of total time spent by users on media platforms across the Mena region.

"What is remarkable is the exponential speed with which short-form content has taken to this region," said Sandeep Ganediwalla, RedSeer’s managing partner in Mena. "The potential of short-form content is high.”

Social media usage and digital content consumption, which was already high in the Middle East, has increased following pandemic-induced social distancing restrictions. About 75 per cent of users who were polled by consultancy PwC said last year that their use of apps such as Facebook, WhatsApp, TikTok and Instagram has increased during the pandemic.

The time spent by Mena users on digital media increased to 80 per cent last year, from 70 per cent in 2018, RedSeer said.

Going forward, short-form videos will dominate a major portion of content consumed, the report said. This bodes well for businesses as short-form content users will try to discover products through online content.

Social media app TikTok, which allows users to create short videos, will be used by more than half of consumers to discover products and services this Black Friday, the report said.

"Short-form users are higher online spenders than non-users across product categories. The variation in spend is anywhere between 40 per cent and 130 per cent, depending on the category. This bodes well from a monetisation standpoint," the report said.

Oppenheimer
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Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
  • Drones
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  • Fireworks/ flares
  • Radios or power banks
  • Laser pointers
  • Glass
  • Selfie sticks/ umbrellas
  • Sharp objects
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  • Bikes, skateboards or scooters
Tree of Hell

Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla

Director: Raed Zeno

Rating: 4/5

Brave CF 27 fight card

Welterweight:
Abdoul Abdouraguimov (champion, FRA) v Jarrah Al Selawe (JOR)

Lightweight:
Anas Siraj Mounir (TUN) v Alex Martinez (CAN)

Welterweight:
Mzwandile Hlongwa (RSA) v Khamzat Chimaev (SWE)

Middleweight:
Tarek Suleiman (SYR) v Rustam Chsiev (RUS)
Mohammad Fakhreddine (LEB) v Christofer Silva (BRA)

Super lightweight:
Alex Nacfur (BRA) v Dwight Brooks (USA)

Bantamweight:
Jalal Al Daaja (JOR) v Tariq Ismail (CAN)
Chris Corton (PHI) v Zia Mashwani (PAK)

Featherweight:
Sulaiman (KUW) v Abdullatip (RUS)

Super lightweight:
Flavio Serafin (BRA) v Mohammad Al Katib (JOR)

UAE - India ties

The UAE is India’s third-largest trade partner after the US and China

Annual bilateral trade between India and the UAE has crossed US$ 60 billion

The UAE is the fourth-largest exporter of crude oil for India

Indians comprise the largest community with 3.3 million residents in the UAE

Indian Prime Minister Narendra Modi first visited the UAE in August 2015

His visit on August 23-24 will be the third in four years

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, visited India in February 2016

Sheikh Mohamed was the chief guest at India’s Republic Day celebrations in January 2017

Modi will visit Bahrain on August 24-25

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.”

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MATHC INFO

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New Zealand 7 (Try: Savea; Con: Mo'unga)

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Updated: August 09, 2021, 5:30 AM