How Arab media can win a larger audience by creating podcasts

A few years ago, a friend called me to be a guest on her podcast show. It was the first time I'd heard the term podcast. I asked where we could meet for the podcast and she said I didn't need to go anywhere and it could be done over the phone.

How convenient I thought. Shortly after, she sent me a link of our interview, and it was that easy. Since then podcasts became my preferred form of entertainment, especially when driving or going for a walk. I like the fact that I can choose the topics I like and tune in at my own convenience. Back in the day, I listened to shows from the West because we did not have many Arabic options then. However, now my favourite podcasts are those coming out of Saudi Arabia.

Podcasting was once regarded as a millennial hobby and an alternative to starting something like a radio show but at a much, much cheaper cost. In some ways, this is still true. You could record a podcast with only your phone and upload it for the world to hear in a matter of seconds. Podcasts are not tied to a specific time frame and are accessible any time.

More businesses and major media corporations such as the BBC and The New Yorker, see the value in podcasts, and produce multiple shows catering to different types of listeners.

The podcast fever is also taking over the Middle East. Funjan is a popular Saudi podcast by a media company Thamanyah and has garnered more than 5 million listeners across the world. The increasing popularity has also prompted Mshari Alonaizay and Majid Al Qasimi to establish Finyal Media in Dubai, the Middle East's first podcast company for Arab listeners.

Millennials, in particular, are tech-savvy and keen on adopting the latest trends. Podcasts are big, and many reports say their popularity will grow stronger. In the future, many new cars will have internet connections. This will make it easier to download podcasts on the move. International brands such as Pepsi, Microsoft and Starbucks have jumped on to the podcast wagon, too, using it as an advertising medium. Apple's new watchOS 5 includes the podcast app for the first time and has a louder speaker.

Though podcasts have started making their mark in the Arab world, there is still room for growth. It's important for more regional media companies to create content in this niche. Not only does it present a new channel to reach targeted audiences, but it could also open up avenues for revenue generation.

Building a following is important and hosting podcasts can help media companies achieve this target. A lot of media houses have journalists whose expertise could be utilised in producing additional content through podcasts.

Loyal followers also means revenue opportunities and targeted ads. As your podcast grows, you can consider sponsored content and branded shows. The Interactive Advertising Bureau that guides media and marketing industries in the digital economy, projects podcast industry revenue to reach $659 million (Dh2.42 billion) next year.

Starting a podcast will also mean you and your company are on-trend and care to reach out to your audience. It will show that your company is evolving and willing to try new things. You never know where business growth and development could come from.

Businesses that haven’t already ventured into podcasts, it’s worth the try as it doesn’t require large capital to begin with. The trick is to find a niche where your listeners would feel that your content is adding value.

Manar Al Hinai is an award-winning Emirati journalist and entrepreneur, who manages her marketing and communications company in Abu Dhabi

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

How Arab media can win a larger audience by creating podcasts

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