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Cracking the Code: How Newborn Town Thrives in MENA Through Localization
The enormous potential of the Middle East and North Africa (MENA) market has piqued global interest, bringing an extensive list of international media and entertainment corporations eager to get in on the business. Newborn Town has emerged as a key participant among these enterprises due to its innovative localization strategies. The latest-released Sensor Tower rankings of social media apps' revenue in MENA from January to May 2024 further verified this fact, as four of the company's social apps, MICO, TopTop, SUGO and YoHo, respectively placed eighth, third, fourth and seventh in the categories of highest-grossing live-streaming and audio chat apps. Why MENA Market?It is no secret that MENA's social entertainment industry is lucrative. Data from Mordor Intelligence revealed a rise in this region's media and entertainment market size, which will hopefully increase from $42.72 billion in 2024 to $66.99 billion in 2028. Social media participation in MENA has also been substantial, with local users owning an average of 8.4 social media accounts and spending 3.5 hours per day on these sites.The "youth bulge" problem that the MENA region meets and the distinct social dynamics affected by religious and cultural concerns have also fueled the strong demand for social networking, boosting opportunities for pioneers like Newborn Town to root in.Newborn Town's Localization EffortsNewborn Town's success in the MENA region and other markets is the result of deep and thorough localization, spanning from operational practices to product design. Several media interviews with Newborn Town's employees and executives mentioned the localization efforts in MENA. As for the team-building strategy, Newborn Town sticks to equal employment opportunities among native and foreign applicants while valuing their self-driven spirits and quick learning abilities more, according to one of the heads of this company. Hiring local MENA employees also ensures that user-reported issues can be resolved swiftly, enhancing the users' experience.Beyond that, meticulous customization of the product's features is one of the highlights of Newborn Town's localization strategy. For instance, some of its in-app buttons and user interface elements are designed larger, given that Arabic script is cursive, and local users prefer a more spaced-out and less cluttered interface. Certain features and even virtual gifts are renamed to be more culturally appropriate, preventing misunderstandings.How Newborn Town Engages in MENA Community Newborn Town's commitment to localization extends beyond product design to active engagement with local stakeholders. This approach enhances the company's local recognition and acceptance.During 2024 Ramadan, Newborn Town's companion-based social app SUGO organized a series of charitable activities to give back to the local community. Through donating food, necessities and children's toys to several charitable organizations in Egypt, SUGO aims to inspire more people to participate in local public welfare and charity efforts. Apart from public benefit campaigns, the annual gala events hosted by its social apps like MICO are also well-known locally to many social media fanatics.Turning Localization Ambition into AchievementThe consistent implementation of localized strategies and the establishment of public images in MENA have contributed to Newborn Town's financial performance. According to the company's annual results, Newborn Town has achieved a 30% YoY increase in revenue from its core apps in the MENA region; from 2020 to 2023, the growth CAGR was ~32%.Among many business storytelling, the MENA market is often described as a goldmine for social media and entertainment companies. However, long-term success and survival in this region require a deep-rooted commitment to localization, as demonstrated by Newborn Town. By embedding itself in the local community and continuously adapting to local needs and preferences, Newborn Town has set a benchmark for other companies aspiring to thrive in the MENA market.27/06/2024 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.comEQS
Jun 27, 2024
European stocks muted; Mucron hits sentiment ahead of key US inflation release
Investing.com - European stock markets traded in a muted fashion Thursday, with a disappointing outlook from chipmaker Micron (NASDAQ:MU) weighing on sentiment ahead of the release of key U.S. inflatiInvesting.com
Jun 27, 2024
Deltrix Partners with Star Media to Create One-Stop EV Charging Stations and Advertisement Experience in Kazakhstan
[Hong Kong – 27 June 2024] Deltrix (Kazakhstan) Limited, a wholly-owned subsidiary of Trio Industrial Electronics Group Limited (“Trio Group” or the “Group”, Stock code: 1710.HK), reached a significant strategic alliance with Star Media, a corporate specialising in the operation of gas station advertising networks in Kazakhstan, on 24 June 2024. Through this cooperation, Deltrix enters the EV charging stations’ vast advertising market in Kazakhstan. Deltrix will initially commence the advertising services at 46 gas stations of Sinooil.Star Media, one of major advertising corporates in Kazakhstan, operates substantial gas station media resources and currently owns media platforms at over 320 gas stations of the four local mainstream gas station brands.This collaboration highlights Trio Group’s role in the international market in connecting PRC enterprises, who work in the new energy industry, with local enterprises and consumer market in Kazakhstan through the vast advertising network. With this advertising media network, Trio Group allows various Chinese new energy enterprises to rapidly gain access to extensive local media channels in Kazakhstan, and hence, enhancing their brand influence and expanding their sales in the country.Capitalising on the recent cooperation between Trio Group and Sinooil to deploy EV chargers and establish EV charging stations at 143 gas stations in Kazakhstan, together with the advertising network cooperation with Star Media at gas stations, these two significant collaborations create a huge synergy in creating one-stop service experience to car owners which integrates EV charging services, advertisement reach-out, and potential shopping data guide. This highly upgrades Trio Group’s overall competitiveness in Kazakhstan’s EV charging services and the service experience for local consumers, with additional income derived from related advertising business.Leveraging Star Media’s extensive local media channels and resources in Kazakhstan, Trio Group will be able to promote its new energy business and enhance brand influence in an efficient and effective way. This enables Trio Group to attract more business partners and users, and to drive the robust development of our own new energy business in Kazakhstan.About Trio GroupTrio Industrial Electronics Group Limited is a manufacturer and distributor of advanced industrial electronic components and products in Hong Kong with 40 years of industry experience. It is also the first Hong Kong-based industrial electronic company awarded with the Industry 4.0 maturity certificate - Industry 4.01i level. The Group’s major products include smart charger, electro-mechanical product and switch-mode power supplies, which are widely used in smart city system, medical and healthcare sector, as well as renewable energy field. The Group has built up good reputation and become a trusted supplier to various international well-known brands. Majority of its clients comes from Europe and US while some from Southeast Asia and PRC. In addition, the Group and its partner has developed its own EV charger solution - Deltrix since 2017, which has been launched in the European market in response to the global efforts to develop smart economies.For more details, please contact: Skye ShumInvestor Relations Manager PR media:DLK Advisorypr@dlkadvisory.com27/06/2024 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.comEQS
Jun 27, 2024
Micron Q3 results beats estimates on AI-led memory chip demand; guidance in-line
nvesting.com -- Micron reported Wednesday fiscal third-quarter results that beat Wall Street estimates on as the growing need for artificial intelligence-optimised hardware boosted memory chip demand.Investing.com
Jun 26, 2024
Exclusive: MCB Real Estate not backing down on efforts to acquire Whitestone REIT
Investing.com -- MCB Real Estate will not back down on its efforts to acquire Whitestone REIT (NYSE:WSR) despite recent offer rejection - the company told Investing.com exclusively. At the beginniInvesting.com
Jun 26, 2024
Barnes Group explores strategic alternatives including potential sale - Bloomberg
Investing.com - Barnes Group Inc (NYSE:B), a Connecticut-based manufacturer known for its components utilized in military turbine engines, is said to be considering various strategic options, inclInvesting.com
Jun 26, 2024
US Treasury sells $70B 5-year notes at lower-than-expected yield on rising demand
Investing.com -- The U.S. government sold $70 billion of 5-year notes on Wednesday at a lower-than-expected yield as demand for shorter duration bonds remain solid amid expectations for a sooner ratheInvesting.com
Jun 26, 2024
