Islamic Lifestyle 

Global Muslim expenditure on media and recreation up 5 pct to $189 bln in 2015 - report

Salaam Gateway | 05 October, 2016 Download |  Print

Muslims spent an estimated $189 billion on media and recreation in 2015, up 5 percent from the previous year, according to the State of the Global Islamic Economy 2016/17 report released on Monday by Thomson Reuters, Dubai Islamic Economy Development Centre, and DinarStandard.

On its Global Islamic Economy Indicator (GIEI), the report named the United Arab Emirates as the country with the best-developed ecosystem for Islamic media and recreation, followed by Singapore and Bahrain.

According to the report, the UAE overtakes Singapore in this year's GIEI ranking mainly due to its increased level of recreation exports to Organisation of Islamic Cooperation (OIC) countries, as well as an improved awareness score. The UAE government has also committed to greater investments and infrastructure projects, such as the $1.2 billion Dubai Internet City. 

GROWTH

The report projects Muslim expenditure on media and recreation to reach $262 billion by 2021, representing a 5.6 percent CAGR from 2015.

This will be driven by high-growth segments religious televion channels, animation, and Islamic-themed movies. 

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INVESTMENT AND FINANCE

The report highlighted Islamic media companies that have been able to successfully leverage crowdfunding for their expansion needs. These include UK-based video-on-demand provider Alchemiya, and U.S.-based 24/7 Islamic online channel Deen TV.

The full report is available for download from this link.

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Global Muslim expenditure on media and recreation up 5 pct to $189 bln in 2015 - report

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