Nine66, a Saudi Arabia Games Group company, and Malaysia Digital Economy Corporation (MDEC) signed a memorandum of understanding with tthe aim of fostering growth synergies between Malaysia and Saudi Arabia’s video game industries.
Asian gamers have greatly aided the tremendous expansion of the video game market worldwide. With at least 1.47 billion players in the region, Niko Partners, a market research and consultancy organization, estimates that the overall revenue from mobile and PC games in Asia would reach US$82 billion in 2022, or 55% of the worldwide games market.
Moreover, the game industry is expanding in both Southeast Asia and the Middle East. Niko Partners estimates that the Middle East will be worth $3.14 billion by 2025, and Southeast Asia with a 270 million gamers, has a video game revenue that is anticipated to grow at a compound annual growth rate (CAGR) of 8.6% between 2020 and 2025.
In line with this growing market in the gaming industry, Nine66 and MDEC will investigate initiatives like skill exchange or co-production as a strategy to promote job growth and strengthen the games industry in both Malaysia and Saudi Arabia.
Additionally, talent in the games industry will have more options with support and participation in the initiatives provided by MDEC and Nine66.
According to Kadri Harma, CEO of Nine66, working with a company like MDEC is an exciting next step in their progress. This partnership is a logical fit due to the established game development ecosystem in Malaysia and Saudi Arabia’s objectives in the gaming industry.
Thus, he is interested to see how their collaboration turns out and how, by working together, they may advance the next phase of video game creation in their regions and elsewhere.
On the other hand, Mohan Low, Director of Digital Content Development of MDEC, is very thrilled to work with the Nine66 team since they are focused on driving their digital economy growth and making sure it is inclusive and beneficial for everyone.
According to him, their responsibility is to motivate the upcoming generation of creators, particularly in Malaysia. By collaborating with Nine66, they are confident that they will be able to develop fresh experiences, video games, and perhaps even more such alliances.
