Saudi Media Forum Discusses Impact of Entertainment Industry on Economy
Saudi Media Forum 2024
At the Saudi Media Forum in Riyadh, the session “The Art of Entertainment Industry in the Kingdom” explored the entertainment industry‘s impact on the economy and job creation. They also discussed the importance of regulation and oversight in ensuring a safe and sustainable entertainment environment.
Bafarat’s Comments at Saudi Media Forum about Saudi’s Entertainment Sector
Faisal Bafarat, CEO of the General Entertainment Authority, underscored the remarkable transformation of KSA’s entertainment sector into a highly profitable industry. This shift aligns with Saudi Vision 2030’s goals, which have stimulated unprecedented growth. Initially, there were between 5 to 10 companies in this field, which has now ballooned to 4,000 companies considering Saudi Vision 2030.
This growth signals a dynamic shift in the Kingdom’s economic and cultural landscape. It underscores a future where entertainment is crucial to Saudi Arabia’s economic robustness and global cultural impact.
Competitive Entertainment: Unlocking New Opportunities
Moreover, Bafarat highlighted the importance of high competitiveness among business sectors in creating new forms of entertainment This competitiveness is instrumental in creating new forms of entertainment and ensuring the industry’s appeal to investors and job seekers.
Bafarat’s insights suggest that this competitive environment is vital for the industry’s sustainability, encouraging companies to innovate and offer unique experiences. Additionally, this approach contributes to job creation, supporting KSA’s economic objectives.
Al-Mahmadi’s Speech at Saudi Media Forum
Ahmed Al-Mahmadi, the Executive Director of Operations at the General Entertainment Authority, affirmed the critical role of media in entertainment. He confirmed that media has become a fundamental pillar in the entertainment industry. Additionally, he pointed out that effective local and regional media partnerships contribute to the industry’s qualitative leaps in the country.
Furthermore, he mentioned the Authority’s commitment to diversifying and vitalizing its platforms to reach local and global community segments. This involves ongoing efforts to attract diverse sports like boxing, football, and golf, as well as global creative talents.
Saudi Media Forum 2024: Melting Pot of Global Media Talents
The Saudi Media Forum 2024, hosted by the Broadcasting and Television Authority and the Saudi Journalists Association, saw significant attendance from over 2,000 media figures globally. Additionally, the forum featured discussion sessions and the “Future of Media Exhibition (FOMEX),” attended by over 200 companies worldwide. The forum concluded with an awards ceremony honoring creative talents in various media fields.
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