Latest news with #creativeeconomy
National Post
3 days ago
- Business
- National Post
Dubai Retains Global Top Spot for Attracting Greenfield FDI Projects in Cultural and Creative Industries in 2024
Article content DUBAI, United Arab Emirates — (Dubai Culture) Dubai has maintained its first place as the world's leading destination for greenfield foreign direct investment (FDI) in the cultural and creative industries (CCI), topping the Financial Times' fDi Markets ranking for the third consecutive year. Article content Article content The 2024 report, which assessed 233 cities under the 'Creative Industries Cluster' classification, placed Dubai ahead of global hubs such as London and Singapore. During the year, the emirate attracted 971 CCI projects—an 8% increase from 2023—bringing in AED 18.86 billion in capital inflows, up nearly 60% from 2023, and generating 23,517 new jobs, a 9% year-on-year rise. Article content All major CCI subsectors saw stronger performance, with notable growth in advertising and PR, film and media production, gaming, education, and advanced software design. According to the Dubai FDI Monitor, greenfield, wholly-owned ventures made up 76.5% of all projects, while new forms of investment represented 15.4%, reinvestment 5.6%, and mergers & acquisitions (2.4%). Article content Data from the Dubai FDI Monitor and the Dubai Framework for Cultural Statistics show that the United States accounted for the largest share of capital inflows in 2024, at 23.2%, followed by India (13.4%), the United Kingdom (9.4%), Switzerland (7.6%), and Saudi Arabia (4.8%). India led in both the number of projects (18.8%) and jobs (18.5%), while the UK, US, Germany, Italy, and France also featured prominently across both metrics. Article content Investor confidence continues to be driven by Dubai's pro-business reforms, including Executive Council Resolution 11 of 2025, which enables free zone businesses to operate onshore, expanding commercial flexibility. The city's Zero Government Bureaucracy programme is also reducing red tape across more than 2,000 federal procedures. Article content Combined with strong intellectual property protections and advanced digital infrastructure, these initiatives have helped establish a regulatory framework marked by efficiency, transparency, and ease of doing business. Article content Insights from the ' Creative Dubai: Navigating Tomorrow's Creative Landscape' report illustrate how this ecosystem is scaling with demand, pinpointing investment opportunity hotspots in design, immersive media and AI-driven production. Dubai continues to offer investors access to top-tier talent, competitive setup costs, and strategic connectivity. The 2024 FDI results underscore the city's rise as a global hub for innovation and one of the world's most attractive environments for creative enterprise. Article content Article content Article content Article content Article content Article content
Zawya
7 days ago
- Business
- Zawya
#AfricaMonth: Danilo Acquisto - Nurturing Africa's creative economy
I believe that Africa's creative economy has the power to ignite a shift from being a place of extraction to one of innovation, ownership, and exponential growth. But this won't happen by accident. Danilo Acquisto, CEO and co-founder of video specialist digital agency, Special Effects Media South Africa gives the case for the untapped intra-African trade opportunity in media and marketing. It requires deliberate investment, bold partnerships and coordination, and a long-term vision that recognises the continent not just as a collection of markets, but as a collaborative economic force. Africa's economic renaissance For too long, Africa's role in the global economy has been that of the world's back office—outsourced skills and labour, raw materials, and rich land. While this has created some economic 'inclusion', it has also kept African nations largely on the periphery of true value creation. But what if we reimagined Africa not as a supplier to the world, but as a serious global economic player in its own right? As South Africans, we've often looked outward for growth—courting markets in the US, UK, and Australia. Yet, beneath our feet lies a $3.5tr opportunity: the African Continental Free Trade Area (AfCFTA), aiming to unite 55 countries into a single market of 1.3 billion people. This isn't just a trade agreement; it's a blueprint for Africa's economic renaissance. The creator renaissance We are currently living through a renaissance in African creativity, fuelled by digital platforms that give creators the tools to build careers and reach audiences like never before. Across the continent, young Africans are picking up cameras, editing content on mobile phones, and sharing stories that have global reach. Africa's internet economy is projected to reach $180bn by the end of this year, accounting for 5.2% of its GDP. By 2050, this figure could soar to $712bn, or 8.5% of GDP.A recent report by the Influencer Marketing Hub estimates that Africa's creator economy is still less than one percent of the global total, but growing rapidly—particularly in Nigeria, Kenya, Ghana, and South Africa. In 2023 alone, content creator earnings in sub-Saharan Africa on platforms like YouTube, TikTok, and Meta grew by more than 30%. Even in South Africa, the ecosystem is still under-monetised compared to Western counterparts. This is what we mean by a renaissance—an explosion of untapped talent, audiences, and ideas that are finally becoming economically viable thanks to pixels and bandwidth. But the infrastructure, trust systems, and support mechanisms needed to scale it are still in their infancy. For a more personal view, our business (Special Effects Media) has worked on creator education programmes that trained over 3,000 creators across South Africa, Nigeria, Ghana, and Kenya. What became immediately clear is that the barriers are not creative—they're systemic. Payments are difficult. Brand deals are inconsistent. Legal and banking systems don't always work in the creator's favour. And yet, the hunger to grow and the calibre of content being produced is world-class. Learnings from the frontlines of intra-African work This is not just theory for us—we've done the work. When assisting one of Africa's premier OTT streaming platforms with a rebrand and creator campaign, we were surprised by the deep lack of trust among top-tier Nigerian creators. Unlike South African creators, who typically trust that contracts will protect them, Nigerian talent negotiated 100% upfront payments before work began. Many were sceptical that contracts could be enforced—especially across borders—and they weren't wrong. The legal systems, enforcement mechanisms, and regulatory frameworks vary greatly, and cannot be assumed to function like South Africa's. That lesson cost us lots of time, money and trust. We also experienced immense delays and confusion within the banking system. Payments were returned, delayed by weeks, or lost in opaque processes. This created tension, undermined trust, and slowed progress. The lesson? Every market operates by its own logic, and expansion requires deep understanding of local financial, legal, and operational norms. Assumptions are expensive. You cannot simply decide in three years to expand across the continent overnight—it will be too late. Trust is built over time. In Nollywood, we were invited to consult on how to monetise digital film distribution via YouTube. Despite the sector being decades ahead of South Africa's, there was a glaring gap in digital infrastructure and know-how. The demand for support was enormous, but again, regulatory and payment system issues slowed everything down. Still, the opportunity was undeniable. The long game: Building Pan-African networks Is Africa a good business bet? If you're looking for short-term returns without long-term investment, maybe not. But if you're building for the future, there are few regions in the world with as much growth potential. Let's connect the dots. Africa has the world's youngest population, fastest urbanisation rates, and rapidly growing internet penetration. According to the World Bank, by 2030, 42% of the world's youth will be African. As American media and marketing strategies become more nationalistic and saturated, global brands are looking for growth markets elsewhere—and Africa's burgeoning middle class and digital-savvy youth are becoming impossible to ignore. The global influencer marketing industry is projected to be worth $24bn by next year. Africa's share is currently a sliver of that, but even a small shift in investment towards the continent could yield massive returns. Companies that build trust now, understand local infrastructure, and establish credibility with creators and audiences will dominate later. This is not about sentimentality or Pan-African idealism. It's about business logic. When large-scale investment lands in Africa, those who have already built networks and proven trust across borders will be the go-to partners. Multinationals won't want to operate in just South Africa or Kenya—they'll want partners who can activate across the entire continent. Call to action (and a roadmap) This Africa Month, let's shift our perspective. Africa is not just a source of raw materials or a destination for outsourcing; it's a vibrant, dynamic market brimming with potential. What do we do now? - Deep Localisation: We're not copy-pasting strategies. We're adapting content, contracts, and campaigns for each market's unique context. - Creator Trust Systems: We're building payment protocols, legal processes, and partnership models that work for creators—especially in lower-trust environments. - Partnership-Led Expansion: We're forming alliances with local agencies, media networks, and legal experts to bridge the knowledge and operational gaps. - Investing in Infrastructure: From better payment systems to local language support, we're prioritising the building blocks that enable scale. Our hope? In three years, we aim to be the most trusted creator economy partner in at least three African territories. Not because we planted a flag, but because we nurtured relationships, delivered real value, and stayed the course. We believe that success in Africa will not come from tech alone, or even talent alone, but from trust. Trust built slowly, proven consistently, and scaled deliberately. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Yahoo
27-05-2025
- Business
- Yahoo
Grant awarded to the Department of Sound to help local musicians
( — Local musicians will soon have the opportunity to continue to build sustainable careers as the City of Sacramento awarded a grant to the Department of Sound, according to officials. Video Above: Sacramento hosting summit focused on entertainment, nightlife The Department of Sound is a local education nonprofit that will receive the grant with the purpose of launching an 'innovative music revenue development program.' 'Investing in Sacramento's creative economy is key to our city's cultural and economic resilience,' said Jason Jong, cultural and creative economy manager. 'This partnership will help empower local musicians to turn their passion into long-term, viable careers.' Officials said the initiative responds to key findings from the Sacramento Music Census and addresses the negative impacts resulted from COVID-19. Meanwhile, the census 'highlighted a significant need for training, resources, and diversified revenue opportunities for local musicians,' according to city officials. Additional findings show that 75% of musicians in Sacramento rely on income outside of music. The development and execution of the 'Making Money with Music' workshop, a year-long digital training platform, will be supported by the grant. The workshop comes in partnership with the nonprofit that specializes in music business education, Center for Creative Entrepreneurship. Mountain lion caught on Fairfield doorbell Ring camera The program features: Six in-person workshops covering licensing, royalties, live performance income, merchandise and more. Year-long access to the CCE Music Revenue Training Platform that offers over 100 revenue development modules. Networking and education seminars to help connect musicians with leaders of the industry. 'This program is about unlocking opportunity,' said John Hamilton Hodgson, CEO of Department of Sound. 'With the right knowledge and support, Sacramento's musicians can not only survive but thrive in this industry.' Planning and community outreach run through summer 2025, while workshops begin in the fall. More information on the Department of Sound can be found on their website or on their Instagram. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Zawya
09-05-2025
- Business
- Zawya
South Africa: Cape Town to host Africa's first creative-tech hub backed by UNDP, Uvu Africa
The United Nations Development Programme (UNDP) in South Africa has teamed up with Uvu Accelerate, the entrepreneurial arm of Uvu Africa, to drive ecosystem development for Africa's first dedicated creative-tech hub. The Timbuktoo Creative Hub will be launched in Cape Town. Currently under development at the Homecoming Centre (formerly the Athol Fugard Theatre) in District Six, the hub will serve as a dynamic space for Africa's creative entrepreneurs. Designed to be a catalyst for growth across the creative sector, including film, music, fashion, gaming, animation, design, and digital arts industries, the hub will provide essential infrastructure, business support, and technology to help creatives transform their talent into sustainable enterprises. UVU Accelerate will work with key partners as the hub manager to develop an enabling ecosystem that fosters collaboration, investment, and innovation in the creative-tech sector. 'Creative industries are a major driver of economic growth, yet African creatives often lack access to the resources, networks, and funding needed to scale their businesses,' said Lara Rosmarin, head of entrepreneur development at Uvu Accelerate. 'The Timbuktoo Creative Hub will provide a game-changing platform for creative entrepreneurs to connect, co-create, and commercialise their work, accelerating the growth of Africa's creative economy.' Speaking on the broader vision for the project, Ian Merrington, CEO of Uvu Africa, emphasised the importance of cluster development in driving economic opportunity: 'Globally, creative industries thrive when supported by strong ecosystems. Through the Timbuktoo Creative Hub, we are building a dedicated cluster that will boost investment, unlock opportunities, and position Africa as a global leader in creative technology. 'We aim to create an environment where creative entrepreneurs can scale their businesses, contribute to job creation, and drive economic transformation.' Opening soon The Timbuktoo Creative Hub will soon open, offering an advanced environment for creatives to work, collaborate, and access mentorship, funding, and digital tools. The initiative is part of a broader effort by UNDP and its partners to empower Africa's entrepreneurs and recognise their vast potential to drive economic growth across the continent. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Asharq Al-Awsat
06-05-2025
- Business
- Asharq Al-Awsat
Saudi Royal Institute of Traditional Arts, Namaa Almunawara to Promote Traditional Arts
The Royal Institute of Traditional Arts (Wrth) and Namaa Almunawara have signed a strategic memorandum of understanding (MoU) at the institute's headquarters in Riyadh. The agreement aims to enhance cooperation in the fields of supporting traditional arts, developing the creative economy, and preserving the national cultural heritage, particularly as this year marks The Year of Handicrafts. Areas of cooperation include developing human capacity through implementing training programs and workshops, providing consulting, and designing and arbitrating specialized programs. The MoU also supports the handicrafts sector by launching entrepreneurial initiatives, developing craft products, and enabling emerging talents, in addition to organizing local and international events and exhibitions, and developing community initiatives related to traditional arts.
