by Market Overview:
The Middle East and Central Asia creator economy market comprises various individuals and businesses that monetize their creative work through various online platforms. This includes content creators, influencers, bloggers, artists, musicians, podcasters, and more who earn income through activities like publishing videos, writing blogs, creating artistic designs and music, hosting podcasts, selling merchandise, and conducting online courses/tutorials. The creator economy enables individuals to directly connect and engage with their audience to promote brands, products, and services while also earning money.
The Middle East and Central Asia Creator Economy Market was valued at US$ 229.5 million in 2023 and is expected to exhibit a CAGR of 21.3% over the forecast period 2023-2030, as highlighted in a new report published by CoherentMI.
Market Dynamics:
Growing popularity of social media platforms such as YouTube, Instagram, TikTok, and others has emerged as a major driver for the Middle East and Central Asia creator economy market. These platforms provide a strong distribution network for creators to publish and promote their work while also implementing various monetization features. Moreover, the increasing demand for personalized content among millennials and Gen Z is encouraging more individuals to become creators. Additionally, the COVID-19 pandemic has accelerated online content consumption and the number of hours spent on social media platforms, thus fueling the demand for engaging content by digital creators.
Segment Analysis
The Middle East and Central Asia creator economy market is segmented based on content type and user type. The content type is further divided into video, text, audio and other forms of content. Among these, the video content segment dominates the market and accounts for over 55% share. The consumer preference for online video content in the region along with easy availability of video creation tools have boosted the growth of this segment.
PEST Analysis
Political: Supportive government regulations around intellectual property rights and digital infrastructure development encourage more individuals to participate in the creator economy in the region.
Economic: Rising internet and smartphone penetration coupled with growing per capita incomes have increased digital spending across the Middle East and Central Asia, thereby driving demand for online creator content.
Social: Young population, increasing social media usage and growing interests in entertainment, diy content are positively impacting the social acceptance of content creation and influencer marketing.
Technological: Advanced technologies like AI, AR/VR, NFTs provide more monetization avenues and engage audiences better. Live streaming and short video formats have gained popularity on platforms.
Key Takeaways
The Middle East And Central Asia Creator Economy Market Size was valued at US$ 229.5 million in 2023. The market is expected to witness high growth, exhibiting a CAGR of 21.3% over the forecast period to reach US$ 895.3 million by 2030 due to increasing internet and smartphone penetration in the region.
Regional analysis indicates that Middle East accounts for around 50% market share currently led by countries like Saudi Arabia and United Arab Emirates. Central Asian nations such as Kazakhstan, Uzbekistan and Turkey are emerging as fast growing regional markets for creators.
Key players operating in the Middle East and Central Asia creator economy market are YouTube, Instagram, TikTok, Meta, Genwin, Twitch, Twitter, Patreon, Air Media Tech., and Jellysmack. YouTube leads the overall platform with over 65% share while TikTok witness phenomenal growth and dominates the short video segment.
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FAQ’s
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*Note:
- Source: CoherentMI, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
