Business Today Egypt | October – November 2023, Special Edition

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StreamingThis digital revolution has amplified the reachand impact of Egyptian entertainment, and presentednew avenues for revenue generation andbusiness opportunities.In many ways digital streaming services candisrupt the Egyptian entertainment industry andcontribute to its economic growth. Digital streamingplatforms bring entertainment directly topeople’s fingertips. Users can conveniently accesscontent on these platforms, eliminating the needto adhere to traditional broadcasting schedules.They can consume content that is specifically ca-Source: A Paper entitled “The development of video streaming industry in Egypt:examining its market environment and business model” (2020)44 November 2023 www.businesstodayegypt.com
Streamingtered to their watch history and preferences. Thiscan be easily capitalized upon and monetized aspeople are more likely to pay for personalized entertainment.Digital platforms’ emphasis on original contentopens up new avenues for Egyptian filmmakers,directors, producers and actors. These platformsare more likely to support local talent, encouragecreativity and provide opportunities for aspiringartists to showcase their work to a wide audience.These platforms are updated regularly withcontent as people consume and use these platformsalmost daily. According to DataReportal, in2022 Egyptian internet users aged 16 to 64 spenton a daily basis 2 hours and 29 minutes using socialmedia, 3 hours and 30 minutes viewing TVprograms (broadcast and streaming), and 1 hourand 34 minutes using a gaming consoles.“As we’ve seen with previous originals producedby WATCH IT, fresh faces have been given theopportunity and the steps to be stars, especiallywith the good scripts that WATCH IT produces,”says Fadell. “A good script gives the opportunityto the crew and cast to realize their full potential.I personally can vouch for all the above as I’veworked as an actor in the series Rivo and can saythat it has been one of the best experiences I’vehad in the industry.”Enhanced revenue streams represent anothermajor change. Digital streaming platforms likeWATCH IT have introduced alternative revenuestreams for content creators. By monetizing subscriptionsand advertising, these platforms generateincome that can be reinvested into producinghigh-quality content. This revenue model also offersa sustainable source of income for the Egyptianentertainment industry.WATCH IT’s focus on local content has playeda pivotal role in preserving Egyptian culture andheritage. A Lot of old Egyptian movies are notowned by Egypt so WATCH IT helped in creatingan archive of Egyptian movies. Local digitalplatforms can also give Egyptian filmmakers, directors,producers and actors the opportunity toshowcase Egyptian culture, set the narrative andcompete with or combat stereotypes that could beportrayed in international productions.“We have had the privilege of taking Egyptiancontent to international audiences. Through strategiccollaborations and partnerships, we havefacilitated cross-cultural exchanges, like Om El-Donya [a documentary on Egyptian history],that have been beneficial for Egypt’s media industry,as well as for the global viewers who havediscovered the richness of Egyptian storytelling,”WATCH IT shares.Contribution to the Egyptian EconomyThe rise of digital streaming and entertainmentservices can contribute heavily to the Egyptianeconomy. This can happen in several ways andnot only through the direct revenue generationthat comes from subscription fees, advertisingand content licensing that directly contribute tothe country’s GDP.“WATCH IT makes contributions to Egypt’seconomy on several fronts. Firstly, it fosters partnershipsand collaborations with local contentcreators, production companies and rising artists.This, in turn, creates opportunities in the industry.We are quite committed to producing originalcontent and supporting emerging talents,”WATCH IT representative said.“Secondly, the digital platform industry has adirect impact on advertising and marketing inEgypt. As a thriving platform, we provide segmentedadvertising opportunities to businesseslooking to reach our large and engaged user basethrough Advertising Video on Demand (AVOD).Additionally, the data-driven nature of digitalplatforms allows for precise targeting and measuringof advertising campaigns, maximizing thereturn on investment for businesses and helpingthem grow.”Other ways include the creation of jobs. Thelaunch and growth of digital streaming platformscan create job opportunities and reduce unemploymentrates.These platforms require a range of professionals,including software developers, content creators,digital marketers, customer support staffand administrative personnel.Digital streaming platforms can provide a globalplatform for Egypt’s cultural content, includingmovies, TV shows and music. By featuring Egyptiancontent, these platforms promote Egyptianculture and attract international audiences. Thisexposure can lead to increased interest in Egyptianculture, tourism and exports of cultural products,contributing to the economy.By featuring travel shows, documentaries orvirtual tours, these platforms promote Egypt as atourist destination. Om El Donya, which is broadcaston WATCH IT, is a prime example of this.It is a documentary series that narrates the taleof the Egyptian civilization from the beginning ofhistory to the present and also tours different governoratesacross Egypt.The future holds many opportunities forstreaming services. The more ordinary peoplehave access to showcase their talents, the moreaspects there are to entertainment. WATCH ITand other offer the right matchmaking platformsbetween entertainers and entertainment seekers,creating a wider horizon for creativity and competition.“Theseplatformshave evenbecome anewsource ofeconomicincomefor countries.”www.businesstodayegypt.comNovember 202345
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Page 5 and 6: In This Issue4640and how it contrib
Page 7 and 8: A Legacy of SuccessOver 28 Years of
Page 9 and 10: In Brief EgyptS&P upgrades Egypt’
Page 11 and 12: In Brief EgyptCBE eases restriction
Page 13 and 14: ing from prolonged geopolitical dev
Page 15 and 16: As the tourism sectorsbegins to rec
Page 17 and 18: Tourismpact the nation’s tourism
Page 19: TourismIdentifying ChallengesWhile
Page 22 and 23: SportsEgypt’sSportsHorizon:Econom
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Page 36 and 37: CinemaBy Nouran AllamThe Egyptian e
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Page 40 and 41: Streaming40 September 2023www.busin
Page 42 and 43: StreamingWith the increasing availa
Page 46 and 47: FashionPositioningEgypt asaHubThe o
Page 48 and 49: Egypt: An Open Fashion ShowEgypt’
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Page 52 and 53: FashionEgypt Fashion Awards (EFA) i
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Page 62 and 63: bt scene“Defining Class since 188
Page 64 and 65: bt sceneTarek Al-Gamal: B20 Summith
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