Smashi Business Newsletter 7th of July

Marhaba folks! 🌞 In today's edition, we cover Shahid by MBC surpassing Netflix in MENA, Armani and Dior bags sold at high markups, and Abu Dhabi's $200 million backing of DNEG for movie tech innovation. Yalla, let’s go 🏃🏻‍♀️

🎞️ Shahid by MBC Surpasses Netflix in MENA with 4.8 Million Subscribers

What is it about:

• Shahid, MBC's streaming service, dominates the MENA streaming market.

• It boasts 4.8 million paying subscribers and 20 million ad-supported viewers.

• Shahid holds a significant 22% market share, surpassing regional and global competitors.

Why does it matter:

• Reflects a shift from traditional TV to digital streaming in MENA.

• Appeals strongly to the region's young, tech-savvy demographic.

• Positions Shahid as a major player against global streaming giants like Netflix.

What is next:

• Expand content offerings with focus on original programming.

• Increase subscriber base through enhanced user engagement strategies.

• Navigate regulatory challenges and cultural sensitivities effectively.

• Strengthen market leadership by investing in local and international partnerships.

📈 Markets

👝 💰️ Armani and Dior Bags Cost $60 to Make, Sold for $2,600

What is it about:

• Recent law enforcement actions in Italy targeted luxury brands like Christian Dior and Giorgio Armani due to allegations of labor exploitation.

• In response, Italian courts have appointed trustees to oversee operations of these brands.

Why does it matter:

• Revealed cost disparities: Dior pays $59.36 per handbag, retails for $2,912; Armani buys bags for $104.16, sells for $2,016.

• Harsh labor conditions reported: 24-hour shifts, safety devices removed to boost production.

What is next:

• Companies responding: Dior addressing supply chain issues; Armani emphasizing transparency and cooperating with authorities.

• Trustees appointed to enhance oversight and improve working conditions.

• Focus on audits and reforms to ensure ethical practices in luxury fashion production in Italy.

Quote of the day

"The only way to do great work is to love what you do." — Steve Jobs

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🎥 Abu Dhabi Backs DNEG with $200 Million for Movie Tech Innovation

What is it about:

• DNEG Group, a leading UK movie technology firm, secured over $200 million in funding from Abu Dhabi's United Al Saqer Group.

• The investment values DNEG at more than $2 billion, enabling expansion beyond visual effects into movie production and AI tool development.

• Abu Dhabi's involvement aims to establish a creative industries hub in the Middle East, enhancing regional capabilities in global content production and technological innovation.

Why does it matter:

• Positions DNEG to diversify its offerings and expand into new sectors within the entertainment industry.

• Strengthens Abu Dhabi's role in fostering technological advancement and creative content creation in the region.

• Enhances global competitiveness by leveraging AI and advanced CGI tools in film, TV, gaming, and advertising.

What is next:

• Development of AI tools for creating sophisticated computer-generated imagery.

• Establishment of a creative industries hub in Abu Dhabi to drive content production and innovation.

• Expansion into new movie productions and collaborations on global entertainment projects.

• Potential for further partnerships and investments to bolster regional and global presence in the media and entertainment sectors.

🎥 The latest from the Smashi Business Studio

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