The rise of new print titles in an increasingly digitally driven sector shows that the Moroccan media business still has the capacity to absorb innovative products, particularly if they cater for the larger, Arabic-speaking public. A 14-member commission led by the minister of communication has been set up to design a new press code to include standards for online newspapers and to create a national council for press and ethics, while a new law that would allow non-Moroccan citizens to hold up to a 30% stake in local newspapers is expected to be approved by parliament in the second half of 2013. With the rising number of media ventures in different communication vehicles, Morocco’s media sector is setting the pace for continued growth. The global economic downturn has had tangible effects on the advertising sector, with spending dropping from €524.5m in 2011 to €497.8m in 2012. Nevertheless, Morocco remains one of the main advertising markets in the Maghreb in terms of its size and dynamism. Television is still the most important of traditional media vehicles, and local channels are seeing increased competition from pan-Arab satellite channels, steadily claiming pieces of the advertising pie. The internet continues to become a more attractive medium to invest in, as new online products are further threatening the hegemony of print media outlets. Industry stakeholders met in the beginning of 2013 to discuss the development of a new code of conduct for the sector, in an effort to move away from strict sanctions by the regulatory body, the High Commission for Audio-visual Communications.