New business models are needed to make ICT (Information and communications technology) sector vibrant and sustainable, Telecommunications Regulatory Authority (TRA) director general, Mohammad Naser Al Ganem, said at the Abu Dhabi Media Summit on Thursday.
He said the media is transforming. “It is impossible to assume that media industry is melting into thin air and losing its charm and significance. On the contrary it has become one of the most demanding commodities of our time.”
He added that new business models are needed considering the new wave of advancement in broadband networks and the power of internet, which has fuelled the media sector. “Let us not forget to modernise the regulatory framework that will support the new business model and let us think regional and global in these new models and unlock the potential for our local markets,” Al Ghanim said. “The challenges ahead not just to encourage investment but we must contribute towards innovative initiatives.”
A large number of media professionals and investors participated in the three-day media summit that ended on Thursday. Queen Rania of Jordan gave a keynote address on Tuesday and launched a powerful attack against extremists for misusing social media to propagate their agenda.
