LOS ANGELES, CA – SEPTEMBER 30: General views of Warner Music Group in downtown LA, located at … [+]
One of the fastest growing music markets in the world is the Middle East. As technological advancements drive a growing industry forward, the international music industry is beginning to change.
According to the World Music Report 2022 by the International Federation of the Phonographic Industry, the Middle East and North Africa accounted for the fastest growing territory of the year in 2021. The study identified that the region saw a 35% increase in music revenue over the period. , ahead of the United States, Latin America and Canada. This increase means new opportunities for those on the frontlines of the industry who are ready to invest early in the untapped market.
Global entertainment company Warner Music Group (WMG) is among the major industry players looking to capitalize on new overseas opportunities. A key deal that has just taken place is WMG’s acquisition of digital entertainment company Qanawat Music.
The agreement between WMG and Qanawat represents one of the most significant acquisitions in the EMEA (Europe, Middle East, Africa) region to date in the media sector, aimed at amplifying and improving the reach of music and Arab entertainment into new markets. Qanawat is poised to act as WMG’s primary local distributor and significant source of upstream opportunities, operating as a stand-alone business within the WMG network. As a result of the acquisition, Qanawat’s workforce will grow by 100% or more.
WMG’s President of Emerging Markets, Alfonso Perez-Soto, commented on the scope of the merger: “With this new agreement, we have a huge opportunity to export exciting talent from the Middle East and South Africa. North – there is a large and growing Arab diaspora in the world that we can tap into, which will help amplify music.The emerging Arab market has also opened doors for marketing companies promoting music.
Another big company looking to capitalize on the current overseas climate is Research Warrant, a Miami-based music marketing firm. Research Warrant has helped market projects by artists such as Meek Mill, Lil Baby, Alicia Keys, Dua Lipa, SuicideBoys and Sleepy Hallow. The company stands at the forefront of the industry, getting an interesting perspective on the rise of music in the Middle East.
English singer-songwriter Dua Lipa (right) and American singer-songwriter Alicia Keys present the award … [+]
“It’s both a great time and a competitive time to be in the music business,” said Ahmad Taher, founder of Research Warrant. “There are so many innovations, new technologies popping up everywhere and new ways of revenue, tracking and transparency. It’s exciting, and I can imagine there will be more development and acquisitions soon.
Ultimately, convenient access to digital delivery platforms and a greater distribution push by regional music companies will open up new business for digital media companies and provide new opportunities for artists around the world.
The growth of Arabic music offers new opportunities for Taher and Research Warrant. “It’s a growing area, of course we’ve been working on marketing more music from North America, but there are clearly opportunities for us in North Africa and the Middle East” , Taher said. As Research Warrant prepares to be a key player in the growth of music in the Middle East, there are many moving pieces.
Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Media Council, said of the merger: “Warner Music Group’s acquisition of Qanawat Music is another entrepreneurial success story emerging from Dubai that demonstrates the dynamism of its media ecosystem that has enabled many local businesses to turn their innovative and ambitious projects into reality.
The Emirati Sheikh Ahmed bin Mohammed bin Rashid al Maktoum (C) award recognizes the best Quran reader in … [+]
“Over the past decade, a host of Dubai-born companies across all sectors have taken advantage of the emirate’s exceptional entrepreneurial environment to grow rapidly and attract global corporate interest,” he said. -he adds.
In 2021, Qanawat achieved over 200 billion total views and streams across digital streaming platforms including Apple Music, Spotify, YouTube and Anghami, as well as numerous social media channels. Currently, Qanawat offers its services in more than 20 countries.
Qanawat CEO, Adnan Al Obthani, added: “Our merger with Warner Music Group allows us to strengthen our position as the leading digital music distributor and pioneers of creativity in the MENA region, with the biggest and best content. entertainment and Arabic music. worldwide,”
“Warner Music Group has a long-term vision to grow the market here in the MENA region, and we are confident that this new chapter in our history will unveil a world of exciting opportunities for artists, in addition to our entry into new business areas, including the Metaverse, NFT and other creative areas,” he concluded.
With a plethora of exciting new partnerships and initiatives underway in the MENA region, Ahmad Taher is one of many who sees a chance to expand his company’s market share even further.
“In the next 3 years, I expect Research Warrant to be a monster of a media company. I expect us to work with a top 5 project every week. a global point of view will be part of our plans.
Ahmad Taher, the founder of Research Warrant, on the phone in the backseat of a vehicle.
“We try to give an idea of how successful campaigns work,” Taher explained. “With successful ads, most people don’t realize they’re engaging in paid advertising when they see a song somewhere that looks organic on the internet, so it’s important to educate our customers on how it works. these processes.”
“Another aspect is educating people about the psychology behind it all.” He continued. “A lot of people have the misconception and just think about being in front of as many eyes as possible, but that’s not always the best for conversions. You have to have a target audience in mind and figure out how to get the message to them. message in a way that he will be receptive to.
Taher added, “You want customers to understand why you do what you do. This is also very important when establishing a basic fanbase in the beginning. Also understand the psychology behind creating a conversation and how to leverage internet conversation to boost the virality of a song or topic. These are all things to be aware of when promoting artists or regional music.
The emergence of the music market in the Middle East adds an exciting new dimension to the whole international music scene for major players in the music industry. As the industry continues to evolve, it will be interesting to see how new emerging markets in the MENA region affect the overall ecosystem and who else will jump in the excitement of overseas expansion.
