Saudi unveils $1bn programme to boost digital content market

Saudi Arabia has announced a SR4.2 billion ($1.12 billion) programme 'Saudi Ignite' that will see the 36 initiatives being implemented, including several financial schemes to develop local content to promote growth in video, audio, games, and digital advertisement sectors. 


The launch of Saudi Ignite was held at leading global tech conference LEAP hosted by Riyadh, reported SPA.


The programme aims to regulate and activate the digital content markets in the kingdom, via facilitating the participation of the private sector in the market through regulations, in addition to conducting integrated governance that catalyzes expansion, encourages innovation, and attracts various investments.


It will see 36 key initiatives being implemented including financing initiatives aimed at financing and establishing investment funds to develop local content to promote growth in the video, audio, games, and digital advertisement sectors, as well as regulatory initiatives to make amendments to legislation and regulations in order to facilitate work systems and protect data, privacy and property rights. 


The initiatives also included the sector of training, said the report.


These initiatives in various sectors will raise the size of the digital content market in the Kingdom to three times by 2030, it added.



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