Page 417 - CABSAT ENGLISH PR REPORT - FEBRUARY to MAY 2023

4/28/23, 11:40 AM CABSAT 2023 to gather major production and broadcast market players to spotlight innovative technologies in the sector
The 29th edition of CABSAT comes at a time of positive growth in the industry, with the Middle East’s media
and entertainment market projected to grow by 7.4 per cent CAGR between 2021 and 2026 to reach USD
47 billion[i]. To foster enterprises with a high potential for economic expansion and job creation,

governments in the Middle East and North Africa (MENA) region have shown significant support for the
entertainment industry.

Against this backdrop, the three-day exhibition will provide an ideal platform for industry experts and leaders
from the community of producers, directors, broadcast technology, channel distributors, content publishers

and more, to share best practices and discover the latest innovative production and broadcast technologies
that have the potential to further boost the entertainment market in the MENA region.

Amongst exhibitors at the show will be Ofir Benovici, Chief Executive Officer of the Turkish production
company, Zero Density. He said: “As a pioneer in virtual studio, AR, XR, and real-time graphics, we aim to
revolutionise the broadcast, live events, and e-sports sectors by implementing cutting-edge technologies.

Our virtual studio solutions, including the Unreal Engine Native platform, Reality Engine, which features a
real-time compositing system and its built-in keying technology, Reality Keyer, have been employed by
some of the biggest companies worldwide for major events ranging from the Olympics to the FIFA World

Cup. Through CABSAT, which provides an excellent platform to present our cutting-edge solutions, we
intend to boost our network and reshape the future of the regional broadcast sector. In addition, we seek to
explore new possibilities for growth in the industry.”

Addressing the mega technology trends, the broadcasting industry has latterly become more reliant on
Video on Demand (VOD). By the end of 2023, it is anticipated that the VOD sector will generate USD

174.80 million in revenue, which will expand at an annual rate of 5.04 per cent to reach a projected market
volume of USD 215.7 million by 2027. With a market volume of USD 157.10 million in 2023, Video
Streaming (SVoD) is considered to have the biggest potential.[ii] Currently, the most lucrative monetisation
strategy is SVoD, which makes up the largest portion of the OTT (over-the-top) industry. As the broadcast

television industry is evolving, and it must adapt to stay relevant by shifting from being a TV broadcaster to
an all-encompassing broadcaster.

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