Ever thought you would be sending a message to a friend … through a celebrity?
Well, now you can do exactly that through Halahi, the region’s first digital platform that allows fans to request personalised video shout-outs from big names.
What is Halahi?
Through the new platform, you can get access to more than 160 regional stars – from actors and musicians to entrepreneurs and influencers – and pay to have them share a message, either to you or a friend.
Prices range anywhere from about $5 (Dh18.3) to $700.
Some of the names currently on the platform include beauty entrepreneur Mona Kattan, Indian actress Zareen Khan, Turkish actress Gizem Karaca and Egyptian comedian Bassem Youssef, with more celebrities joining every day.
“This concept exists in the US, and it has been proven to work," says Halahi's chief executive Sara Al Madani. "We wanted to be the first to bring it to the region. I know a lot of people feel very connected to their favourite celebrities, but what are the odds of actually meeting them in public or speaking to them? This was a chance to create an authentic relationship and create memories for fans and celebrities.”
Al Madani, along with Saif Belhasa, Ibrahim Naji and Mohamed Amine Belarbi, set up the platform to “bridge the gap between fans and celebrities, and build lifelong digital memorabilia in a world oversaturated with likes and comments”.
How does it work?
Fans looking for a personalised messaged can visit the Halahi website, or download the app (available on the Apple App Store or Google Play store), then choose their celebrity and type out what they would like the star to say.
The celebrity in question can then decide whether or not they want to send along the message. If they are comfortable with it, the video will be sent through the platform to the fan, and can be saved and shared onto social media.
If the star is uncomfortable with the message, however, the fan is given a full refund.
The platform’s algorithm is also designed to keep information private and to pick up on any offensive statements, adds Al Madani, who is also listed on the site and will offer her own personalised shout-out for $80.
'A more authentic interaction'
“The platform is designed to help celebrities as much as it is to help their fans, and allow them to interact in an authentic way. Especially during this pandemic, a lot of the celebrities are not working and this gives them an opportunity to generate extra income,” she adds.
“Meanwhile, because of the pandemic, I feel like a lot of people are feeling down … they’re looking for a reason to smile. And this gives people a lot of creativity when choosing a gift for someone.”
To create a more authentic interaction, Al Madani says the videos sent will be as real as possible, with no editing.
People in the Middle East have spending power and use a lot of social media
The concept behind a celebrity shoutout platform is not new.
In the US, Cameo was launched approximately four years ago with the mission to "create the most personalised and authentic fan experiences in the world". Some stars currently on its list include Bonnie Wright of Harry Potter fame, Sean Astin, who acted in The Lord of the Rings, and Ashley Greene from the Twilight series.
While Cameo has reached a moderate level of success in the US, Al Madani believes that Halahi has greater potential in this region.
“In the US, people are not heavy social-media users. People in the Middle East have spending power and use a lot of social media. We know it can grow to become quite big.”
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.”
