Saudi Arabia Cinema Market
According to Renub Research, the Saudi Arabian cinema market is anticipated to reach US$ 1.70 billion by 2030. Between 2022 and 2030, it is projected to expand at a CAGR of 20.04%.
How the Saudi film industry wants to develop into “Saudiwood”: From prohibition to boom
A 35-year cinema prohibition gave way to an advocacy for Saudi Arabia Cinema Market Saudiwood: After a 35-year cinema ban was abolished in 2018, Saudi Arabia has made significant progress toward becoming one of the region’s top film production markets in the six years since then. There’s a Muvi on every corner, production companies are opening up, capital is flooding in, more film festivals are showcasing regional talent, and the business frequently appears in Variety.
Revenue – Market has been covered from 2 viewpoints
- Revenue from Ticket/Box Office
- Revenue from Other Sources
Cinema Format – Market has been covered from 4 viewpoints
- 2D
- 3D
- 4D
- IMAX
Gender – Market has been covered from 2 viewpoints
- Male
- Female
Seat Preference – Market has been covered from 2 viewpoints
- Standard
- VIP (Recliner/Gold)
An overview of the current situation of the film industry:
A US$100 million (SAR 375 million) film fund will be established in Saudi Arabia, with 40% of the fund’s total funding coming from the government’s Cultural Development Fund. The “Saudi Film Fund” is being introduced by Roaa Media Ventures, a holding company dedicated to supporting local media projects and talent, and Mefic Capital, a local investment firm. The fund’s stated objectives were to “invest in film production infrastructure and provide content that reflects the Saudi culture and values” when it was first unveiled in February. During the Cannes Film Festival last year, the three parties signed a preliminary deal for the USD 100 million film fund. Additionally, last year, a USD 80 million fund dedicated to “film and media production, distribution, and infrastructure” was launched.
International participants are thrilled about the Kingdom’s potential for film
It is anticipated that the involvement of DIEC and AMC Entertainment, the biggest movie theater chain in the world, will accelerate the growth of the film sector in the Kingdom. By 2030, DIEC hopes to have 50–100 theaters operational throughout Saudi Arabia, having launched its first one in the King Abdullah Financial District in April 2018.
Many multinational theater chains have agreements in place with local or regional partners in an effort to gain a head start in Saudi Arabia’s budding theater industry.
- Al Tayer Group and Cinépolis, the world’s fourth-largest exhibition circuit, have teamed up with Al Hokair Group and received a Cinema Operating License from the Saudi General Commission for Audiovisual Media (GCAM).
- A memorandum of engagement between iPic Entertainment and BAS Global Investments Company calls for the development of 25 to 30 properties over the course of the following ten years.
- Leading Indian multiplex network PVR Limited and UAE-based Al Futtaim Group have inked a Memorandum of Understanding to expand into Saudi Arabia and other regional markets.
Growth drivers of Saudi Arabia Cinema Market
Initiatives for Vision 2030
With a focus on improving entertainment alternatives and diversifying the economy, Saudi Arabia’s Vision 2030 plan is expected to greatly expand the film industry. In order to support a thriving film culture, the government has made significant investments in the construction of infrastructure, including contemporary theaters and multiplexes. The strategy promotes regional production and draws in foreign directors, giving viewers access to a wide variety of films. This strategy change aims to make Saudi Arabia a prominent player in the global entertainment industry by stimulating economic growth and promoting entertainment as an essential part of social life. It also aims to create jobs.
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End-User – Market has been covered from 4 viewpoints
- Alone
- Spouse (Couples)
- Family
- Friends
Region – Market has been covered from 3 viewpoints
- Riyadh
- Jeddah
- Others
Company has been covered from 2 viewpoints:
- Overview
- Recent Development
Company Analysis
- AMC
- IMAX
- Cinépolis
- VOX cinemas
- Empire Cinema
- Muvi Cinemas (Next Generation Company)
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