Reuters plans major Middle East expansion
Add Axios as your preferred source to
see more of our stories on Google.
Illustration: Allie Carl/Axios
Reuters is bringing its flagship leadership summit, Reuters NEXT, to Abu Dhabi in October and is launching a new Arabic website catered to readers in the Gulf, Josh London, head of Reuters Professional, told Axios.
Why it matters: Reuters has had an editorial presence in the Middle East since 1866, but it hasn't fully leveraged its editorial track record there to build out its business catered to professional audiences.
- London said the company plans to expand its new subscription offering to the region with its Arabic website. The new site and event will drive incremental advertising and sponsorship opportunities.
Zoom in: London hopes that Reuters NEXT in Abu Dhabi, which is invitation-only, will serve as a regional hub for the most senior business leaders in the world to secure and develop business in the region.
- Reuters has secured the Abu Dhabi Department of Economic Development as a host city partner, and London said the company plans to announce other sponsors soon.
- The event will examine six core themes, per London: geopolitics, economy and markets, banking and finance, technology and AI, climate and sustainability, and leadership.
Between the lines: Reuters' events business has served as a key vehicle for the company to expand its business from licensing to professional insights and services.
- Reuters NEXT is produced with editorial independence by Reuters' newsroom but caters to a professional audience of decision-makers.
- The events are operated within a division separate from Reuters' news agency called Reuters Professional, which is led by London.
Zoom out: Reuters' Middle East growth plan follows a tested playbook for global expansion.
- Last year, the company expanded Reuters NEXT to Singapore as part of its expanded foray into the Asian market.
- The Middle East is an area where Reuters believes it can make an impact, given its editorial track record, London said. Most recently, Reuters broke the story about Syrian President Bashar al-Assad fleeing to Russia from Damascus in December.
The big picture: News organizations are eyeing the Middle East as an expansion opportunity and see countries like the United Arab Emirates and Qatar as key areas to start.
- CNN last week said it will expand its footprint in the Middle East this year with a new operation in Qatar.
- Dow Jones is expanding the Wall Street Journal's flagship Tech Live event to Qatar this year as a part of a broader effort to build its business in the region.
What to watch: News organizations pulled back from Middle East expansions following the brutal murder of Washington Post journalist Jamal Khashoggi.
- Any humanitarian concerns related to the treatment of journalists in the region could disrupt further investment.
Editor's note: This story has been corrected to reflect Josh London's title as head of Reuters Professional (not marketing chief of Reuters).
