Dublin, Nov. 25, 2024 (GLOBE NEWSWIRE) -- The "Saudi Arabia Cinema Market Report Forecast By Revenue, Region and Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Saudi Arabia Cinema Market will reach US$ 1.29 billion by 2033, up from US$ 590.32 million in 2024, with a CAGR of 9.13% between 2025 and 2033
A youthful and tech-savvy populace, growing disposable incomes, more government funding for entertainment projects, and solid international alliances are major growth factors for Saudi Arabia's film industry. The market is expanding because to the increased desire for immersive experiences and diversified content, which in turn is creating a thriving local film industry. 
In Saudi Arabia, the film industry is booming and has ingrained itself into the national identity. With Vision 2030, the nation is entering a revolutionary stage of social and economic growth with the goal of improving the general well-being of its citizens and diversifying its non-oil sectors. In addition to offering entertainment, the film industry is vital to this effort because it protects and nurtures talent and the nation's legacy. Support is given to regional producers and filmmakers, and their films are screened, which promotes the industry's expansion and opens up new markets for the international sale of Saudi content. This forward-thinking strategy shows Saudi Arabia's dedication to preserving its cultural identity and interacting with the global cinema industry.
The cinema market in Saudi Arabia is expanding due to a number of important causes. When a 35-year ban on movie theaters was lifted in 2017, the area saw tremendous growth and attracted large investments from both domestic and foreign businesses. Demand is higher due to a growing number of young people, wealthier consumers, and the growing appeal of local content. The watching experience is further enhanced by new movie theater complexes and cutting-edge technology, which further solidifies the cinema's place in the Kingdom's social and cultural life.
Driving Forces of Saudi Arabia Cinema Market
Infrastructure Development contributes to the market growth
The improvement of infrastructure is a key factor propelling the expansion of the Saudi film industry. To improve accessibility and convenience for viewers, the public and private sectors are making significant investments in the construction of contemporary movie theater complexes around the Kingdom.
These cutting-edge locations frequently have cutting-edge technology like IMAX and 4DX, which enhance the watching experience and draw in moviegoers. There is a boom in movie projects in major cities like Riyadh, Jeddah, and Dammam, which promotes economic growth and urban rejuvenation. Better transportation systems also facilitate people's access to these locations. Long-term market growth is ultimately fostered by expanding infrastructure, which in turn fosters a thriving cinema culture by promoting more frequent visits and overall attendance.
Government initiatives
Governmental initiatives have a major role in the expansion of the Saudi film industry. The goal of the Vision 2030 initiative is to promote cinema as a cornerstone of culture while also diversifying the economy and growing the entertainment industry. The decision to abolish the cinema prohibition in 2018 was historic since it encouraged foreign movie chains to enter the market and opened possibilities for investment.
In order to increase the amount of locally produced content available, the government also provides funds and incentives for local film creation. PIF established the Development and Investment Entertainment Company (DIEC), a GEA subsidiary, in January 2018 with USD 2.6 billion in startup capital. In a joint venture, the firm and a US partner are running movie theaters in the Kingdom. By 2030, DIEC hopes to have opened 30-40 theaters in around 15 Saudi Arabian cities over the course of the following five years, and 50-100 theaters overall in about 25 Saudi cities. GEA has agreements in place to run entertainment venues across the Kingdom with Six Flags, National Geographic, Cirque Du Soleil, and IMG Artists in addition to AMC Theaters. Prominent French corporations have conveyed their intention to establish their headquarters in Riyadh, the capital of Saudi Arabia, in order to fully capitalize on those prospects. This occurred on May 20, 2022, as the Federation of Saudi Chambers, represented by the Saudi-French Business Council, hosted a delegation of French entrepreneurs and companies that specialize in a range of entertainment-related industries. Aligned with Saudi Vision 2030, the visit seeks to create 450,000 jobs and raise the entertainment sector's share of GDP to 4.2 percent by 2030.
Furthermore, regulatory frameworks have been put in place to guarantee the expansion and sustainability of the business. The promotion of cultural events and film festivals helps to establish a creative and engaging atmosphere, which in turn strengthens the position of cinema in Saudi society and propels its ongoing growth.
Riyadh Cinema Industry
Growing disposable earnings and a youthful, tech-savvy populace are driving Riyadh's cinema sector. The rise of regional film festivals and programs aimed at assisting young people have encouraged innovation and teamwork in the business. Global investments and collaborations with major studios are augmenting the caliber and variety of productions. Future developments will likely emphasize immersive experiences, streaming platforms, and more localized cinema tales. Furthermore, technological developments like virtual reality and improved visual effects are anticipated to influence the film industry and draw viewers from both domestic and foreign markets to Riyadh's developing film scene.
Jeddah Cinema Industry
With an increase in contemporary theaters and a rising demand for a wide selection of films, Jeddah's film industry is changing quickly. Nowadays, a wide range of people are drawn to both local and foreign films, which are becoming more and more popular. A major trend is the emphasis on premium watching experiences, which include plush chairs and cutting-edge technology. In the future, more government funding is anticipated to help the sector by promoting regional film festivals and the production of original material. Future watching possibilities could be shaped by the merging of digital and streaming platforms, providing hybrid experiences to go along with traditional moviegoing.
Saudi Arabia Cinema Company Analysis
The key players in Saudi Arabia cinema industry are AMC, IMAX, Cinepolis, VOX Cinemas and Empire Cinemas.
Saudi Arabia Cinema Company News
July 2024- The largest exhibitor in Saudi Arabia, muvi Cinemas, and IMAX Corporation (NYSE: IMAX) announced their first-ever partnership today. The agreement calls for the installation of four brand-new, cutting-edge IMAX with Laser systems in some of the nation's most prominent commercial districts. According to the agreement, muvi Cinemas will introduce the first IMAX system to Dhahran, one system to Jeddah's Mall of Arabia, and two to Riyadh, the capital and most populated city of Saudi Arabia. By the end of 2024, three of the four locations should be operational, while another one will follow in 2025.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 75 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value (USD) in 2024 | $0.59 Billion |
| Forecasted Market Value (USD) by 2033 | $1.29 Billion |
| Compound Annual Growth Rate | 9.1% |
| Regions Covered | Saudi Arabia |
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenge
5. Saudi Arabia Cinema Market
6. Market Share Analysis
6.1 By Revenue
6.2 By Cinema Format
6.3 By Seating Format
6.4 By Region
6.5 By End-User
7. Revenue
7.1 Box Office
7.2 Cinema Advertising
7.3 Cinema food and drinks
8. Cinema Format
8.1 2D
8.2 3D
8.3 4D
8.4 IMAX
9. Seating Format
9.1 VIP/Premium
9.2 Standard
10. Region
10.1 Riyadh
10.2 Jeddah
10.3 Others
11. End-User
11.1 Alone
11.2 Spouse (Couple)
11.3 Family
11.4 Friends
12. Porter's Five Forces Analysis
12.1 Bargaining Power of Buyers
12.2 Bargaining Power of Suppliers
12.3 Degree of Rivalry
12.4 Threat of New Entrants
12.5 Threat of Substitutes
13. SWOT Analysis
13.1 Strength
13.2 Weakness
13.3 Opportunity
13.4 Threat
For more information about this report visit https://www.researchandmarkets.com/r/j0t47q
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