Pay-TV networks face an uncertain future, both internationally and in the Middle East.
In the US, a recent study found that 60 per cent of people aged 18-29 were "leaning towards" or "seriously considering" cancelling their pay-TV subscriptions. Some attributed that to the threat posed by web-video services such as Hulu and Netflix.
In the Middle East, pay-TV has not taken off in the way it has in the US or Europe.
The dominance of free-to-air satellite television in this market means that people are not accustomed to paying for TV. Many will have never even considered coughing up for the latest series of Mad Men or Desperate Housewives.
So while US pay-TV operators are struggling to retain subscribers, Middle East operators Orbit Showtime Network (OSN) and Arab Digital Distribution (ADD) are still trying to build a meaningful customer base.
Television is a costly business to enter. And pay-TV networks must fork out even more for content, given that they are expected to premier films and series before their free-TV counterparts.
An indication of how at least one Middle East pay-TV operator is performing came with a note issued by Moody's last Friday.
Moody's said that it has a "negative outlook" on the Kuwait Projects Company (Kipco), which has joint control of the Orbit Showtime Network (OSN).
"Moody's is concerned that the underlying operating and financial performance trends of Kipco's key investments such as Burgan Bank and OSN, may not be sufficient to lead to a significant increase in dividend payments," it said. The investor service said its had downgraded Kipco's long-term issuer rating to Baa3 from Baa2.
A glance at Kipco's first-quarter results show that it lost 2.5 million Kuwaiti dinars from its media-related operations, the worst-performing sector of all the conglomerate's operations.
OSN was formed following a merger of the Orbit and Showtime Arabia networks in 2009. It is owned and operated by Panther Media Group (PMG), a company registered in the Dubai International Financial Centre. PMG is jointly owned by KIPCO and Orbit Group.
Despite the note issued by Moody's, there are some positive signs on the horizon. Following the merger between Orbit and Showtime, OSN achieved 16 per cent cost savings last year, according to Kipco's 2010 annual report. And last December OSN introduced new anti-piracy technology, which it hopes will help boost revenues.
Still, the future of pay-TV in the Middle East is still in the balance. The fate of operators such as OSN and ADD will depend on whether consumers in the Arab world are willing to embrace paying for regular satellite-TV services, or will leapfrog to the new online services becoming increasingly popular in the US.
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
Surianah's top five jazz artists
Billie Holliday: for the burn and also the way she told stories.
Thelonius Monk: for his earnestness.
Duke Ellington: for his edge and spirituality.
Louis Armstrong: his legacy is undeniable. He is considered as one of the most revolutionary and influential musicians.
Terence Blanchard: very political - a lot of jazz musicians are making protest music right now.
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Difference between fractional ownership and timeshare
Although similar in its appearance, the concept of a fractional title deed is unlike that of a timeshare, which usually involves multiple investors buying “time” in a property whereby the owner has the right to occupation for a specified period of time in any year, as opposed to the actual real estate, said John Peacock, Head of Indirect Tax and Conveyancing, BSA Ahmad Bin Hezeem & Associates, a law firm.
MATCH INFO
Mumbai Indians 186-6 (20 ovs)
Kings XI Punjab 183-5 (20 ovs)
Mumbai Indians won by three runs
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Timeline
1947
Ferrari’s road-car company is formed and its first badged car, the 125 S, rolls off the assembly line
1962
250 GTO is unveiled
1969
Fiat becomes a Ferrari shareholder, acquiring 50 per cent of the company
1972
The Fiorano circuit, Ferrari’s racetrack for development and testing, opens
1976
First automatic Ferrari, the 400 Automatic, is made
1987
F40 launched
1988
Enzo Ferrari dies; Fiat expands its stake in the company to 90 per cent
2002
The Enzo model is announced
2010
Ferrari World opens in Abu Dhabi
2011
First four-wheel drive Ferrari, the FF, is unveiled
2013
LaFerrari, the first Ferrari hybrid, arrives
2014
Fiat Chrysler announces the split of Ferrari from the parent company
2015
Ferrari launches on Wall Street
2017
812 Superfast unveiled; Ferrari celebrates its 70th anniversary
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The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Notable groups (UAE time)
Jordan Spieth, Si Woo Kim, Henrik Stenson (12.47pm)
Justin Thomas, Justin Rose, Louis Oosthuizen (12.58pm)
Hideki Matsuyama, Brooks Koepka, Tommy Fleetwood (1.09pm)
Sergio Garcia, Jason Day, Zach Johnson (4.04pm)
Rickie Fowler, Paul Casey, Adam Scott (4.26pm)
Dustin Johnson, Charl Schwartzel, Rory McIlroy (5.48pm)
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
UAE currency: the story behind the money in your pockets
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5