Invest Qatar, Media City Highlight FDI Role in Driving Growth of Digital Media Industry -1-

The article added that the relevance of FDI in digital media can be largely attributed to the global pandemic. While most sectors faced a decline in investment, the media and communication industry saw a rise. The pandemic accelerated the shift towards digital consumption, driving demand for digital content, streaming services and online communication platforms. According to fDi Markets data, the communications sector was among the top six sectors for FDI capex in 2023, with capital expenditure (capex) reaching USD 79.77 billion and the number of projects totalling 679. The sector's investment increased by 24 percent, highlighting its resilience and growth potential during a period of global uncertainty. The article anticipated that the media market is set to continue its expansion, with most online media segments outpacing the global growth rate of 3 percent, as reported by the International Monetary Fund (IMF). The three top segments expected to see the fastest growth from 2022 to 2026 are: Digital publish ing, Audio and music, social media. With regards to digital publishing, the accessibility of smartphones and tablets with platforms such as Amazon Kindle and subscription services has transformed how consumers access books, articles and magazines. Major publishers like Penguin Random House and HarperCollins are now increasingly focusing on digital formats to meet evolving reader preferences, with e-books projected to reach a market volume of USD 15.33 billion by 2027, according to Statista. In the TV and movie industry, streaming platforms like Disney+, Netflix and Amazon Prime Video are setting new benchmarks. Between 2022 and 2027, Disney+ is expected to increase its annual investment in original content by 82.8 percent, according to Ampere Analysis, while Amazon Prime Video will increase its investment by 70 percent over the same period. When it comes to audio and music, streaming services such as Spotify and Apple Music have driven a revival in the audio and music industry. With millions of songs and p odcasts readily available on singular platforms, the shift from physical and digital downloads to streaming is forecasted to grow the market by USD 70,023.6 million from 2023 to 2028, according to the Global Music Market 2024-2028 Report. As for social media, innovations in content delivery, augmented reality (AR), and virtual reality (VR) are propelling the growth of social media platforms. The global social media market size is expected to grow at a compound annual growth rate (CAGR) of 27.1 percent from 2023 to 2030, according to the Social Media Market Size, Share and Trends Analysis Report by Application, by Region and Segment Forecasts, 2023 - 2030. The article pointed out that social medias highly engaged user base makes them prime targets for advertisers and marketers seeking to reach a wide audience. This, coupled with the rise of influencers and influencer marketing has turned social media into a powerful marketing tool, with brands investing heavily in influencer collaborations and social media a dvertising, thereby driving further investment into these platforms. Source: Qatar News Agency