Ignite Program: Receives $1.1bn to Turn the Kingdom into a Media Production Hub
Saudi Arabia continues growing exponentially in every aspect. In light of the technology conference in Riyadh, Leap, the Kingdom announced the new initiative that’s going to change the country’s digital presence: Ignite. Furthermore, the program received $1.1 billion in investment to transform the country into a media production hub!
Ignite
Ignite Saudi Arabia will increase digital content creation, helping it grow along with local media. According to Saudi Arabia’s Digital Content Council, “Ignite aims to triple Saudi Arabia’s digital content market size in gaming, audio, video, and advertising.” That means all local, regional and international companies will receive financial aid for development. Whether it’s talent development or infrastructure development, the content creation sector will receive the support it needs to grow.
Within the next three years, 4,400 people will receive training in the fields of gaming, digital advertising, and film. When it comes to gaming, the Kingdom is already ahead of its time; just last month, a new gaming company launched. Additionally, there will be a gaming fund for developing games and game studios. As for films, Ignite is going to fund films to aid with the production, development, and distribution of Saudi films.
Digital content can’t grow its reach without an improved internet, can it? Saudi Arabia now will have Wi-Fi 6E technology for faster and better connectivity. With the best internet speed available, the internet’s contribution to the Kingdom’s economy will surely increase. Moreover, more than $6.4 billion were invested in technology and entrepreneurship to aid Saudi Arabia’s digital transformation.
Ignite Saudi Arabia is also helping people to move their businesses online. Social distancing is a thing now and will stay for a while. So, local shop-owners are encouraged to take their business online, no matter what the product is. The program wants to digitize it for better access, to help stores reach their full potential.
The dream to turn Saudi Arabia into a digital country with a comprehensive ecosystem seems to be right around the corner.
