Despite the various challenges that the publishing industry faces in Saudi Arabia, the country which is considered to be one of the biggest markets in the Middle East and Africa is poised to grow to USD 3.6 billion by 2017, according to a new study by Tahseen Consulting.
The study was conducted to support the Saudi Publishers Association’s recent successful bid to gain full membership in the International Publishers Association. Saudi Arabia is the fourth country in the Arab World to achieve full membership in this international organization which represents publishers’ interests globally.
“Since 1990, Saudi Arabia’s publishing industry has changed dramatically. There was a large shift from small bookshops to major super-stores with national coverage and the initial emergence of online retail channels that cater to emerging preferences for e-books and digital content. Today, we are witnessing the further growth of large, integrated companies with publishing and distribution capabilities, increased consumption of digital content due to high levels of mobile device penetration, and the embrace of e-commerce by Saudi publishers and consumers,” shared Wes Schwalje, Chief Operating Officer, Tahseen Consulting.
Of Addressing Challenges
The study shows that the publishing, media, and digital content industries will need to address a number of challenges to unlock growth. It identified the need for a government-led national publishing strategy that prioritizes needs and challenges, identifies strategies for advancing the industry, assigns responsibilities, defines performance metrics, and establishes an implementation timeline.
“While a number of institutions, awards, and festivals seek to build literary culture in Saudi Arabia, there are no specific polices for the development of the publishing industry. To succeed in the evolving global publishing market, Saudi publishers will need to be supported to become more open to change, adapt to evolving digital formats, and embrace online distribution strategies,” observed Walid Aradi, Chief Executive Officer, Tahseen Consulting.
