Media Minister: 2024 Marks Year of Media Transformation in Saudi Arabia

Saudi Minister of Media Salman bin Yousef Al-Dosary outlined key strategic aspects of the media system for the upcoming year. (SPA)
Saudi Minister of Media Salman bin Yousef Al-Dosary outlined key strategic aspects of the media system for the upcoming year. (SPA)
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Media Minister: 2024 Marks Year of Media Transformation in Saudi Arabia

Saudi Minister of Media Salman bin Yousef Al-Dosary outlined key strategic aspects of the media system for the upcoming year. (SPA)
Saudi Minister of Media Salman bin Yousef Al-Dosary outlined key strategic aspects of the media system for the upcoming year. (SPA)

Saudi Minister of Media Salman bin Yousef Al-Dosary expressed on Tuesday optimism about the future of Saudi media, anticipating numerous achievements and transformations across all sectors.

He outlined key strategic aspects of the media system for the upcoming year, detailing various projects and programs set to bring these features to fruition, while announcing 2024 as the "Year of Media Transformation."

"Today, we unveil the strategies for the Year of Media Transformation in the Kingdom, based on four pillars: figures, indicators, passion, and work, guided by a wise vision from the Custodian of the Two Holy Mosques and led by Crown Prince," said Al-Dosary at the opening session of the Saudi Media Forum 3 in Riyadh.

The event was attended by over 2,000 media outlets from within and outside the Kingdom.

Al-Dosary said the Saudi media industry has contributed SAR14.5 billion to the GDP in 2023, projecting an increase to SAR16 billion this year. He emphasized the industry's investment in human capital, which generated 56,000 employment opportunities last year, with expectations to reach 67,000 this year.

He presented three implemented strategies serving as a roadmap for the future of media, fortifying the sector, increasing investment attractiveness, and improving the effectiveness of national cadres. These strategies involve collaboration with over 30 government institutions, shaping the comprehensive strategic direction of the Kingdom's media system.

Al-Dosary discussed the Saudi Broadcasting Authority’s (SBA) strategy, aiming to expand the Authority, enhance business competitiveness, nurture media professionals and talents, and produce outstanding content for international digital platforms. He also highlighted the Saudi Press Agency's (SPA) strategy, focusing on improving its global network, offices, and correspondents while aligning media content with public expectations and contemporary developments.

Additionally, the minister spotlighted noteworthy projects, including the "Media Oasis" coinciding with the Kingdom's participation in major summits and events. This initiative engaged over 2,600 journalists from 60 countries, providing insights into more than 30 national projects. Initiatives, like the "Mediazone", have completed their work or are in the process of developing new editions to stay aligned with creative advancements in media arts and expertise.

Al-Dosary emphasized the significance of the Hajj and Umrah seasons, highlighting the recent launch of the "Hajj and Umrah Mediathon" project. This initiative encourages interested parties and media professionals to compete in developing media initiatives and projects promoting innovative and creative media coverage.

He also announced the initiation of the "Hajj Media Hub" project, aiming to establish an integrated media community and environment to assist media professionals in their coverage. Additionally, there will be an interactive media exhibition showcasing services during the Hajj season. The minister disclosed an anticipated outreach to more than 2,000 media professionals and international visitors.

Moreover, Al-Dosary announced the establishment of the Saudi Media Academy that aims to empower, develop, and train individuals in future disciplines. It also aims to form early and innovative strategic partnerships with major technology companies and global media platforms such as Google, Huawei, Alibaba, and others.

Following the minister's remarks, President of the Saudi Media Forum and Chairman of the Saudi Broadcasting Authority (SBA) Mohammed Al-Harthi delivered a speech highlighting a comprehensive development renaissance witnessed by the Kingdom at all levels and fields. He emphasized that the media serves as a mirror reflecting global changes.



Oil Edges Up on Strong US GDP Data

A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo
A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo
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Oil Edges Up on Strong US GDP Data

A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo
A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo

Oil prices were up slightly on Friday on stronger-than-expected US economic data that raised investor expectations for increasing crude oil demand from the world's largest energy consumer.

But concerns about soft economic conditions in Asia's biggest economies, China and Japan, capped gains.

Brent crude futures for September rose 7 cents to $82.44 a barrel by 0014 GMT. US West Texas Intermediate crude for September increased 4 cents to $78.32 per barrel, Reuters reported.

In the second quarter, the US economy grew at a faster-than-expected annualised rate of 2.8% as consumers spent more and businesses increased investments, Commerce Department data showed. Economists polled by Reuters had predicted US gross domestic product would grow by 2.0% over the period.

At the same time, inflation pressures eased, which kept intact expectations that the Federal Reserve would move forward with a September interest rate cut. Lower interest rates tend to boost economic activity, which can spur oil demand.

Still, continued signs of trouble in parts of Asia limited oil price gains.

Core consumer prices in Japan's capital were up 2.2% in July from a year earlier, data showed on Friday, raising market expectations of an interest rate hike in the near term.

But an index that strips away energy costs, seen as a better gauge of underlying price trends, rose at the slowest annual pace in nearly two years, suggesting that price hikes are moderating due to soft consumption.

China, the world's biggest crude importer, surprised markets for a second time this week by conducting an unscheduled lending operation on Thursday at steeply lower rates, suggesting authorities are trying to provide heavier monetary stimulus to prop up the economy.