Take a look around and all you will see are people glued to their phones on their way to work, in the gym, even at the dinner table.
Mobile is everywhere, allowing people the flexibility to stay connected just about anywhere.
In the Middle East, the great internet and mobile infrastructure together with purchasing power, has resulted in smartphones becoming a fashion statement, almost a lifestyle accessory. Here, the love for mobile is driven by consumer behaviour.
The Middle East is home to what I like to call the “Experience Generation”, often described as digital natives, these young, savvy, always connected individuals are the drivers of change.
So what defines this generation? In the simplest of terms, it is their love for all things “smart” – be it technology, messages or marketing. They take pride in standing out. They enjoy freedom and value privacy. They value money, yet they don’t define everything by it. They value experiences, and are willing to pay for them.
The region continues to witness a surge in both smartphone and socia-media adoption, offering the here and now generation a single avenue for communication, entertainment and even socialising. With all this connectivity comes a growing interest in mobile video on demand. For many, Mobile Video On Demand (MVOD) is probably a new phenomenon.
With MVOD they have the freedom and flexibility to consume content of their choice regardless of what device they may be using, what time zone or place they may be in.
In a world that is both fast- paced and competitive, MVOD offers viewers a means to enjoy their favourite movies and TV shows without really worrying about time. The effectiveness of MVOD as a medium is perhaps why it is fast becoming the preferred screen of choice to consume music videos, movies, TV series, news and more.
According to the Vuclip Global Video Insights (GVI) report for 2014, 66 per cent of respondents in the Middle East reported a preference for watching both long and short-form videos on their mobile, while another 78 per cent predicted an increase in the amount of time they will spend watching videos on mobile platforms.
Mobile video entertainment is still nascent, and in the coming years we will see the consumer life cycle transition from early adopters to mainstream consumers. We are already beginning to witness a scenario where all the stakeholders are rallying around building a thriving mobile video economy, as each of them stands to gain from the growth of mobile video.
Content producers and broadcasters have the opportunity to monetise their premium content on the most personal and popular platform and reach a vibrant community of fans.
Telecom operators have a sustainable way to diversify revenue beyond voice. And marketers, can now truly create immersive experiences instead of the static banner adverts.
A recent report by the telecommunications company Ericsson, estimates that mobile data traffic in the Middle East and North East Africa will grow 14 times between 2014 and 2020, trumping the global growth rate.
In summary, the mobile video economy is thriving, viral is not just video, it’s mobile video – from Coca-Cola to Dove, from Emirates to Samsung. It is a movement that is fast taking shape and those that brave the wave now are the ones most likely to weave a bond with their audience, ultimately defining the line between success and failure.
Nickhil Jakatdar, is chief executive and cofounder of Vuclip, a US-based mobile video on demand company that targets emerging markets.
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