Islamic Lifestyle

Children, youth ’critical and sizeable’ consumer segments for Islamic media sector: study

Islamic Finance Gateway | 07 November, 2018 Download |  Print

The children's and youth markets represent a critical and sizeable consumer segment for Islamic media developers and providers, said new report the State of the Global Islamic Economy 2018/19.

The study estimated global Muslim expenditure on Islamic, or halal, media at $209 billion in 2017 and forecasts it to grow 5.5 percent to reach $288 billion by 2023. 

The opportunity in the children's and youth market is based on the sizeable youth bulge in the global Muslim population. According to the study, 54 percent of the population in Muslim-majority countries are expected to be under the age of 30 by 2030, compared to 31 percent of non-Muslims in more developed countries. 

The study also said that Islamic countries are emerging as a "production powerhouse" for halal media, with Saudi Arabia's entertainment reforms promising to open supply, as well as demand for Islamic-themed content.

It cited a handful of examples from Islamic countries that have shown strong performance in 2017, including Turkey's Ertugul, considered the Muslim world's answer to Game of Thrones, and video-on-demand service Iflix making a splash in the Middle East with its first Arabic original 'Tough Luck'.

For the full analysis the State of the Global Islamic Economy 2018/19 report can be downloaded from here.

 

Children, youth ’critical and sizeable’ consumer segments for Islamic media sector: study

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