Hello, Smashi Business readers! 🌟

BRICS Summit 2024 concluded in Kazan, Russia on Thursday with nearly 36 leaders from different countries taking a big ‘family photo’. 

However, the highlight of the day was when Russian President Vladimir Putin addressed the UN Secretary General (present in person at the plenary session), saying: “Mr Secretary-General [of the United Nations Antonio Guterres] said that we all must live as one big family. Mr Secretary-General, this is exactly the way we have been living our lives. Unfortunately, families often have quarrels and scandals and may have to split their assets, and sometimes their disputes become physical. BRICS sees its purpose as creating the necessary cooperation mechanisms and a favourable environment within the household we share. This is what we are doing, and this is what we will continue to do, including by working closely with the United Nations.”

Also, experts believe that the ‘Kazan Declaration’ was still the most important outcome of the three-day summit. If you want the summary of what it says, watch our Thursday’s Smashi Business Show episode to find out more. We go live here from Monday to Friday, to bring you the latest and best news from the business, tech and entrepreneurial world.

Moving on, Future Investment Initiative (FII) Conference’s 8th Edition, under the theme ‘Infinite Horizons: Investing Today, Shaping Tomorrow' is set to take place in Riyadh, Saudi Arabia, from October 29-31, with a variety of external engagements to be hosted throughout the week.

CEO and Member of the Board of Directors of the FII Institute Richard Attias recently that the event will showcase global investments, reaching record-breaking figures. The total value of international deals to be revealed is estimated at $28 billion, spanning sectors such as food, entertainment, renewable energy, cybersecurity, and sports. Again, we will keep an eye out for you!

Today’s stories that matter are:

1. 📺 YouTube Dominates Viewer Preference in Saudi Arabia and UAE

2. 🛡️ STARZPLAY CEO Applauds Dubai Police for Crackdown on IPTV Piracy

3. 🚀 Dubai Unveils ‘Ignyte’ to Empower 100,000 Startups

Let's dive in! 👇

📺 YouTube Dominates Viewer Preference in Saudi Arabia and UAE

📰 What is it about?

• YouTube has revealed new viewer behavior data at its YouTube Brandcast event, showing that YouTube is the top platform in Saudi Arabia, the UAE, and Qatar.

• The platform is increasingly being watched on Connected TVs (CTV), with millions of users tuning in via large screens in their living rooms.

• YouTube is highly preferred across all formats, including Shorts and full-length videos, with strong viewer loyalty and deep engagement with content creators.

💡 Why it matters?

• Widespread Reach: YouTube reaches over 12 million people in Saudi Arabia and 2.5 million in the UAE through Connected TV, capturing a massive portion of the online audience.

• Engaged Audience: 85% of Saudi viewers feel connected to YouTube creators, and 87% of UAE viewers say YouTube influences their purchase decisions.

• Ad Impact: YouTube ads outperform other platforms in brand discovery, making it a key player for businesses aiming to connect with new customers.

🔜 What’s next?

• YouTube has introduced new advertising tools, including partnership ads to strengthen brand-creator collaborations and boost ad performance.

• As YouTube continues to evolve with new formats and engagement strategies, brands in the region have more opportunities to reach targeted, highly engaged audiences across all screens, from mobile to TV.

📈 Markets

🛡️ STARZPLAY CEO Applauds Dubai Police for Crackdown on IPTV Piracy

📰 What is it about?

• Maaz Sheikh, CEO and Co-Founder of STARZPLAY, has publicly praised Dubai Police for their decisive action against illegal IPTV operations that pirated premium content.

• The raid, conducted on September 16, 2024, targeted the website primeproott(dot)com, which illegally sold IPTV boxes providing access to over 12,000 pirated channels.

• This move was a response to a criminal complaint from Disney Star, highlighting serious breaches in broadcasting rights and the damage caused to content creators and broadcasters.

💡 Why it matters?

• IPTV piracy is a major issue globally, costing economies thousands of jobs and billions in revenue by limiting the ability of media companies to invest in new, localized content.

• By disrupting such operations, Dubai is reinforcing its commitment to intellectual property protection, safeguarding the future of the media industry, and preserving jobs in the sector.

• For platforms like STARZPLAY, fighting piracy is essential to ensure the continued growth of original content production and the creation of region-specific programming.

🔜 What’s next?

• STARZPLAY will continue to collaborate with local authorities to combat piracy, which threatens the sustainability of content creation and broadcast industries.

• This raid is part of a broader regional and global crackdown on piracy, with more efforts expected to tackle this issue and protect the media landscape.

• As the fight against piracy intensifies, the media sector in the UAE and MENA region is set to benefit from stronger protections for content creators and rightsholders.

Quote of the day
“I never dreamed about success, I worked for it.” – Estée Lauder

🚀 Dubai Unveils Ignyte to Empower 100,000 Startups

📰 What is it about?

• Dubai has launched Ignyte, a digital platform aimed at accelerating the growth of over 100,000 start-ups and entrepreneurs.

• The platform was unveiled by Sheikh Hamdan bin Mohammed, developed by the Dubai International Financial Centre (DIFC) as part of the Dubai Digital Economy strategy.

• Ignyte connects founders to a global network of investors, mentors, and government partners, offering exclusive perks and resources to help them thrive.

💡 Why it matters?

• Support for Start-ups: Ignyte is designed to boost Dubai's role as a global entrepreneurship hub, providing perks that could save start-ups over $100 million.

• Global Reach: The platform aims to attract 5,000 venture capitalists, 5,000 vetted mentors, and 500 corporate and government partners, positioning Dubai as a leader in innovation and digital growth.

• Economic Impact: This initiative is aligned with Dubai’s goal to double the contribution of the digital economy by 2032, fostering faster start-up growth and technological advancement.

🔜 What’s next?

• Ignyte will offer AI-powered marketplace deals, personalized recommendations, and Ignyte Challenges in sectors like AI and machine learning.

• The platform will continue expanding its global reach, with more opportunities for networking, mentorship, and early-stage funding, further solidifying Dubai's status as a start-up ecosystem powerhouse.

In other news…

1. Saudi startup Blink founder questions Techcrunch’s reporting standards after a funding article about a Saudi startup starts by talking about Kingdom’s human rights record.

2. Dubai-based startup Stake reached 1 million downloads and the founder was ecstatic.

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