Monday 4 July 2022

Cinema Build KSA opens with focus on $1.2bn market

RIYADH, Saudi Arabia, May 24, 2022

The 4th edition of Cinema Build KSA opened today (May 24) at Hotel Fairmont, Riyadh to run until May 25 even as Saudi Arabia’s $1.2 billion industry leads the Arab World in the cinema sector

Saudi Arabia is on the road to becoming one of the world’s top 20 film industries in the next few years, as per the new strategy that has established the Kingdom “as a world-class film hub with a target to build an industry with a revenue of $500 million,” announced by the country’s Film Commission in November 2021 – which is boosting the country’s entertainment industry.

Since its launch in April 2018, the Saudi Film Commission has licensed 56 theatres with 518 screens in 20 cities, in which 1,144 films were shown, including 22 Saudi films, with the ticket sales amounting to 30,860,956 films in 22 languages from 38 countries.

The Saudi cinema industry with enormous potential is growing rapidly and steadily as it is led by great leadership and industry experts. With a great amount of groundwork done in the past 4 years, the cinema industry in the Kingdom is on its path to becoming the leader in the region and has already gained attention from cinema stakeholders from across the globe.

Mohamed Al Hashemi, Country Head, Saudi Arabia, Majid Al Futtaim Leisure, Entertainment, Cinemas and Lifestyle, said: “The opening of the cinema industry in the last four years has laid the foundations for long-term growth and exhibitors have an opportunity to capitalize on this and invigorate the Kingdom’s entertainment sector. Majid Al Futtaim is a strategic partner in the prosperous future of Saudi Arabia and, we are committed to growing a robust and sustainable cinema industry.

“We firmly believe films were made for the big screen and will continue to expand our footprint and diversify our offering so guests can enjoy the shared and unrivalled experience of watching a movie at the cinema.”

With two-thirds of Saudi Arabia’s 35 million population under 30 years of age, cinema in the country looks set to expand further as film and theatre target the young demographic.

Leila Masinaei, Managing Partner, Great Minds Event Management, said: “This event has tried to guide all the stakeholders in the cinema industry to develop a robust business model catering specifically to KSA’s enthusiastic audiences.

“This edition of Cinema Build KSA consisted of innovative sessions which highlighted the latest solutions, technologies and key innovations.

“The event has brought together stakeholders on a single platform to brainstorm the continued development of the industry and identify opportunities going forward. The seminars, workshops, and expert sessions that it hosted gave the right way to go forward.”

More than 20 speakers, 200 industry leaders, 28 sponsors and 10+ cinema exhibitors participated on the first day of the forum.

The discussion topics for the 4th edition of the Cinema Build KSA included Evolution of cinemas, cinema project financing and investment opportunities, integrating cinema and movie-based entertainment, delivery on time, generating faster revenue, cinema design and construction, making the cinema design more flamboyant, Covid-19 impact on cinema industries worldwide etc.

The conference started with Welcome note by the Conference Chairman, Paul Schwarz, Partner & Principal, Design Confidence – Acoustics, followed by a speech on Evolution of cinemas by Cinepolis KSA, that discussed about a 50-year cinema evolution, customer acceptance boosted through regional customization and many more. – TradeArabia News Service


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