The media industry in Saudi Arabia has been growing at an impressive rate over the past few years, as the country continues to push ahead with its Vision 2030 agenda, which aims to diversify the economy and reduce dependence on oil. Today, Saudi Arabia’s media industry is valued at around $4.1 billion, making it one of the most lucrative industries in the country.
According to a report published by Arab News in 2020, the Saudi media sector has seen significant growth in recent years, with the number of licensed media outlets increasing by over 50% between 2015 and 2019. This growth has been driven by the government’s efforts to modernize the industry and encourage private investment in media ventures.
The Saudi media landscape is composed of several different types of media outlets, including television, radio, print, and digital media. Television remains the most popular form of media in the country, with over 30 million viewers tuning in to watch local and international programming. There are also numerous radio stations and print publications, as well as a growing number of digital media outlets.
The Saudi media industry is controlled by a handful of major players, including MBC Group, which is one of the largest and most well-known media companies in the Middle East. MBC Group owns and operates several television channels and digital media outlets, including MBC1, MBC2, and Shahid.net, which is the largest on-demand video streaming service in the MENA region.
Other major players in the Saudi media industry include Rotana Group, which is owned by billionaire Prince Alwaleed bin Talal, and Abu Dhabi Media, which has a significant presence in the Saudi market. There are also several emerging players in the market, including digital media outlets such as Sayidaty.net, which is one of the most popular digital publications in the country.
Overall, the Saudi media industry is poised for continued growth in the coming years, as the government continues to invest in the sector and encourage private investment. With a young and tech-savvy population, there is enormous potential for the industry to expand and thrive, providing new opportunities for both investors and media professionals alike. As such, the media industry is set to become an increasingly important part of the country’s economy and cultural landscape, further cementing Saudi Arabia’s position as a key player in the region.