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Fever, the world’s leading live entertainment discovery platform, announced plans to expand in the GCC after raising $227 million in a funding round led by Goldman Sachs and reaching unicorn status at a $1 billion valuation.
Since 2014, the company’s mission has been to democratize entertainment and culture, helping millions of people in more than 100 cities around the world discover the best experiences.
Fever’s expansion in the Bay Area will further expand its global community, which reaches more than 150 million people every week. With the media and entertainment market in the Middle East expected to grow at an annual rate of 7.4% through 2027, Fever will use its proprietary technology to support countries such as Saudi Arabia and the UAE; the former reportedly hosted more than 2,500 shows from 2016 to the end of 2021 events, attracting more than 800,000 attendees, and the latter’s entertainment industry is expected to grow at an annual rate of 9% through 2028.
By delivering top-notch original experiences with select partners and IP creators, Fever is poised to drive the regional entertainment industry’s post-pandemic recovery. The company has achieved global success by demonstrating its industry expertise in partnerships with household names such as Warner Bros. and Netflix. Beginning in 2019, Fever’s “Candlelight Concert Series” has become one of its most notable achievements, with more than 5 million guests worldwide.
With a cultural shift among the region’s youth generating massive traction and contributing to a major and ongoing transformation of the region’s entertainment industry, Fever’s data-driven technology makes it an ideal venue for those wanting to create or host events as well as aspiring The ideal partner for content companies and creators.
The company’s unique ecosystem includes media, production and content creation, and a marketplace that works together to enable people to enjoy and learn through diverse experiences.
Rachid Laurent Elameri, Managing Director of Fever Middle East, said: “The transformation of the regional entertainment industry is far from over, with the UAE in particular showing great potential. On average, residents of the country spend more than seven hours a day on the Internet; on social media.
“Our fast-paced world creates limitless choices, and we’re using data-driven insights to remove the resulting decision fatigue and truly decipher the aspirations of the UAE’s diverse populations of residents, expatriates and tourists – and the region as a whole.”
Fever empowers content creators through data and technology, generates new demand trends, engages consumers, and curates and creates experiences through its unique ecosystem to inspire global audiences.
The company, which plans to become the leading discovery platform in the Middle East, nearly doubled its workforce from about 650 in the first quarter of 2022 to more than 1,200 in the first quarter of 2023.
Fever’s proven track record enables it to build long-term relationships, enhance its products and experiences, and solidify its position as the go-to app for the general public to discover the best in entertainment. – trade arab news agency
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