Page 107 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/25/24, 3:12 PM VeraViews to revolutionize media sector in UAE under NextGen FDI
create an industry that is transparent and trustworthy, and an arena

in which every dollar spent by our enterprises receives a dollar’s

worth of value.”

Mark Firth, CEO of VeraViews, commented that, “The media industry in the UAE

is dynamic and diverse, with a mature blend of platforms, publishers, agencies

and networks. VeraViews believes our distributed ledger technology can add

significant value to the sector by helping to eliminate fraud and prevent the

dissemination of misinformation or other forms of harmful content. We are hugely

appreciative of the support the NextGen FDI program has offered and welcome

the opportunity to work with both the UAE government and industry stakeholders

to build an advertising ecosystem that benefits everyone.”

The global digital advertising market is currently valued at more than US$550

billion, with the Middle East emerging as one of the fastest-growing regions. The

region’s advertising market is expected to reach US$6.9 billion by the end of

2024, with online advertising accounting for over half of the total. The UAE is the

second-largest advertising market, with US$1.8 billion spent in 2023.

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