People metering getting ever closer



DUBAI // The long-running push to bring modern audience measurement tools to the Gulf's television market took a step forward today. Although the introduction of people meters has been discussed for more than a decade, representatives from advertisers, broadcasters, media buyers and regulators all agreed that the tool - which measures the number of viewers through a set-top box - was necessary and, hopefully, imminent. "The project for people metering is under discussion right now with the National Media Council," said Mohamed al Ghanim, the director general of the Telecommunications Regulatory Authority. Mr Ghanim was speaking at a panel as part of a day-long workshop organised by Dubai Media City and The Nielsen Company to discuss media measurement in the region. Television viewership is presently measured by computer-assisted telephone interviews that require viewers to recall what they watched the previous day. Several research companies are used, and the results are often greeted with scepticism by broadcasters and advertisers. Any movement towards people meters would be welcome news to Louis Hakim, the vice president of Royal Philips Electronics and chief executive of Philips Middle East, who was representing the Advertisers Business Group on the panel. The ABG has been leading its own effort to bring the tool to the region. "We have over the last 30-plus years in this part of the world been sort of shooting in the dark," he said. "What is needed, and what we are struggling currently to achieve, is a proper format where transparency, accountability and reliability prevail." Sharif Badreddin, the commercial director of MBC, agreed in principle. "We have also been shooting in the dark," he said, complaining that although MBC does well in the current ratings system, "there is a lot of scepticism surrounding that". But he reminded the audience that private commercial television in the region was less than 20 years old. "The market is still shaping itself," Mr Badreddin said, noting that according to the most recent research, there were nearly 400 television stations in the region. "It has not yet reached maturity levels." In particular, he complained about the rate of advertising spending in the region. "Although our GDP levels rank among the league one and league two in the world, our per capita spend on advertising is among the lower leagues." Ziad Skaff, the group director of Integral, who was representing the media buyers on the panel, welcomed people meters but cautioned against drastic action, pointing out that media buyers had been talking about bringing people meters to the region for 12 years. "Are we late? We can't really judge whether we are slow or not," he said. "We are late compared to other markets, but we are still also young in the region. We need to evolve. We are moving there. Personally, I am happy to see that we finally have something agreed on." But many others at the workshop believed the media industry in the region, and the UAE in particular, had finally matured to a level that made an overhaul in its measurement tools necessary. Spending on advertising in the UAE last year totalled US$1.3 billion (Dh4.7bn), according to the Pan Arab Research Centre. "The current practices in the region, in general, is the old traditional style," said Mohamed Almulla, the chief executive of Dubai Media City, at a discussion on Monday. "I think we have been lagging behind in media tools." For its part, Nielsen was eager to expand on its ad hoc market research business in the region to include syndicated media measurement as well. "We think you are at a crossroads," said Lorraine Hadfield, the managing director for international audience measurement at Nielsen Research International. "And we think this is the time to seize the day." khagey@thenational.ae

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The specs

Engine: 6.2-litre supercharged V8

Power: 712hp at 6,100rpm

Torque: 881Nm at 4,800rpm

Transmission: 8-speed auto

Fuel consumption: 19.6 l/100km

Price: Dh380,000

On sale: now 

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
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India squad for fourth and fifth Tests

Kohli (c), Dhawan, Rahul, Shaw, Pujara, Rahane (vc), Karun, Karthik (wk), Pant (wk), Ashwin, Jadeja, Pandya, Ishant, Shami, Umesh, Bumrah, Thakur, Vihari

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.”

The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

Abu Dhabi card

5pm: Handicap (TB) Dh100,000 2,400m

5.30pm: Wathba Stallions Cup Handicap (PA) Dh 70,000 2,200m

6pm: Abu Dhabi Fillies Classic Prestige (PA) Dh110,000 1,400m

6.30pm: Abu Dhabi Colts Classic Prestige (PA) Dh110,000 1,400m

7pm: Handicap (PA) Dh85,000 1,600m

7.30pm: Maiden (PA) Dh80,000 1,600m

The National selections:

5pm: Valcartier

5.30pm: AF Taraha

6pm: Dhafra

6.30pm: Maqam

7pm: AF Mekhbat

7.30pm: Ezz Al Rawasi