Bunyan teams up with ibMedia for gaming and esports venture

20 September 2023 Consultancy-me.com 2 min. read

Jeddah-based Bunyan has joined forces with international consulting firm ibMedia to establish an industry-focused joint venture in the Saudi market.

In a joint release, the two companies said the partnership aims to capitalise on the surging interest in gaming within Saudi Arabia by focusing on two key objectives: developing educational programs in esports and gaming, and providing consulting services tailored to the kingdom’s gaming scene.

Globally, the gaming industry is a juggernaut, boasting a staggering 3.2 billion-strong audience with the market size estimated to be worth more than $180 billion. That number is expected to rise further in the coming years.

Bunyan teams up with ibMedia for gaming and esports venture

Saudi Arabia is emerging as a pioneer in the gaming space. The nation’s forward-thinking investment in gaming aligns with a broader regional trend where the MENA region is actively diversifying its economies beyond fossil fuels, channeling resources into technology, entertainment and gaming to secure its place in the evolving global landscape.

According to a recent report by Boston Consulting Group, the gaming industry in the MENA region is worth around $4 billion, with Saudi Arabia the region’s largest hub at $1.8 billion, roughly 45% of the total value.

What sets Saudi Arabia apart is its significant demographic advantage, with a whopping 70% of its population falling under the age of 35. This youthful population is driving a substantial interest in gaming and esports, making the Saudi Arabian market particularly appealing. Meanwhile, the country’s sovereign wealth fund is taking stakes in gaming companies and start-ups worldwide.

One such example is Savvy Games Group, which has pledged to invest $38 billion in the global games industry. The company aims to nurture the growth of 250 game companies, creating 39,000 jobs and contributing 1% to the country's GDP by 2030.

Seeking to establish a position as a trusted advisor to Saudi’s gaming landscape, the new ibMedia-Bunyan venture will provide consultancy and learning & development services.

“With the meteoric rise of the gaming sector, we are witnessing a huge demand from brands seeking vast amounts of talent to join the industry. Our goal is to equip this talent with the requisite knowledge and skill sets to succeed in this industry,” said Frank Sliwka, CEO at ibMedia.

Based in Jeddah, Bunyan offers educational development services to clients in the tourism, hospitality, and entertainment industries. Singapore-headquartered ibMedia is a consultancy dedicated to the esports, gaming, and entertainment industries.