Prince Faisal bin Salman, chairman of Saudi Research and Marketing Group (SRMG) said that traditional publishing and whatever related to this sector in the fields of printing, distribution and advertising have been constituting the main revenue stream for SRMG. Though vulnerable to unpredictable economic changes, traditional publishing has been encountering, as well, new challenges which made traditional content widely available on the web and different multimedia. Prince Faisal bin Salman added, after the 3rd meeting of the board of SRMG in its current session held recently in Jeddah, that although digital media has long been considered a challenge to traditional publishing, such new challenge has not constituted yet a reliable revenue stream as experienced in the traditional sector of publishing.
Almost all Arabic content is available for free on the web and different multimedia, whereas online advertising, though growing, is still heavily creeping.
The board of SRMG discussed in the meeting the results of the first two quarters of this year. Furthermore, the execution of SRMG’s strategy was also reviewed.
In the meeting Prince Faisal bin Salman broached the promising results of the sector of education in SRMG and its potentials, in addition to developing the sectors of academic and managerial training, supporting services in the sectors of education, training and libraries.
Standing for the new challenges, Prince Faisal bin Salman discussed a new vision to develop SRMG’s strategy where the sectors of publishing, education, and packaging will be restructured. In such a process, these sectors and related business functions, will be supported by business leaders to strengthen the managerial capabilities, stand for the new challenges in the market and derive benefit from the promising opportunities of the new media to achieve a sustainable growth for SRMG. Prince Faisal bin Salman also discussed the mechanisms of executing the new strategy to achieve such growth and maintain SRMG’s leadership in those sectors. The board supported and agreed to such approach to achieve the objectives of the new strategy.
