RIYADH: Saudi Arabia’s digital content market is expected to grow to between SR16 and SR20 billion ($5.3 billion) by 2030, according to a report by the Trend Corporation in cooperation with the Riyadh Chamber of Commerce and Industry.
An initiative to invest in video content creation aims to attract major companies specialized in visual content, and the investment rate in video in Saudi Arabia is expected to reach SR1 billion to SR1.2 billion.
Video generated $175 million in revenue locally, with video streaming $127 million, and the expected market size is $262 million in 2025.
Videos make up 79 percent of global Internet traffic. In the Middle East and Africa, video traffic has grown eight-fold, and the region is estimated to have created 169 billion minutes of video content every month by the end of 2020.
The Digital Media Committee was created in Saudi Arabia, and it’s meant to activate the digital media to contribute to developing the business sector, create partnerships, and to benefit from the media experts.