By Staff writer
Dubai's media cluster sees 284 new companies setting up during last 12 months
TECOM Investments' Media Cluster, which includes Dubai Media City (DMC), Dubai Studio City (DSC) and International Media Production Zone (IMPZ), announced it has experienced steady growth in the number of companies registered in 2011 with 284 companies setting up base at the cluster
Key segments that saw new additions at TECOM Media Cluster in 2011 include freelancers, consultancy, event management, media and marketing services, new media as well as television, film and radio production.
Digital audio firm Dolby Laboratories, Sony Pictures (CPT Holdings, Columbia), Fremantle Media, Scholastic, Christie + Co and Groupon are among the top global brands that established their operations at the TECOM media free zones.
In 2011, TECOM Media Cluster also saw its business partners including ITP Publishing Group, MBC (Middle East Broadcasting Center), Leo Burnett, outdoor advertising specialist JCDecaux and digital printers Costra Group expanding their commercial and business operations.
Mohammad Abdullah, Managing Director, TECOM Investments' Media Cluster, said: "The year 2011 has proved positive for us. On the back of an industry uptrend, a good line-up of businesses set up base at the Media Cluster.
"Additional investments in potential growth areas and operational expansions were also witnessed. The favourable year-on-year trend for the cluster reflects the development in the region that continues to attract a large community of media professionals."
Total ad spend in the Arab-speaking media market (including GCC, Levant and Pan-Arab media) in 2011 was $14.3bn, compared to $13.7bn in 2010, marking a four per cent year-on-year increase. UAE- and Saudi Arabia-based media also saw an increase in ad spend of 1 per cent and 9% respectively during the same period.
However, no significant downturn is expected in the content-production space. According to a recent study by the Arab Advisors Group's on TV Series Production Houses in the Arab world, a sample set of 26 production houses in the GCC, Egypt, Jordan, Lebanon, and Syria were seen to have produced 47 television series productions in the first nine months of 2011, compared to 57 in 2010.
Can we also have a list of the number of people who closed shop or moved out of TECOM ?