Saudi Arabia seeks to increase the number of cinema halls, reduce ticket prices, support local content, and transform the Kingdom into a major center for film production
The cinema sector in the Kingdom of Saudi Arabia is witnessing massive transformations driven by a package of new incentives aimed at increasing the number of halls, reducing ticket prices, and supporting local content.
Through these efforts, the Kingdom seeks to achieve ambitious goals represented in revitalizing this vital sector, transforming it into a major center for film production, and enhancing the presence of Saudi film on the international scene.
Recent reductions in cinema license prices, up to 90% in some cases, have provided new opportunities for growth for the sector.
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This step seeks to encourage investors to open more cinemas, which will increase the number of screens available to the public, and provide various options for movie fans.
In terms of prices, the efforts made by companies working in this field have significantly reduced ticket prices, to now range between 50 and 55 riyals (about $14), compared to an average of 85 riyals in the past.
However, ticket prices in Saudi Arabia are still higher than their counterparts in some neighboring Gulf countries.
The Kingdom attaches great importance to supporting the local film industry, by providing huge incentives that include financing films, establishing production companies, and developing infrastructure. The Saudi film sector financing initiative, with a budget of 879 million riyals, is the best example of the Kingdom’s commitment to strengthening this sector.
In addition, the Kingdom has launched many other initiatives to support Saudi film, such as the Red Sea International Film Festival, the Saudi Film Fund worth $100 million, and the “Big Time” investment fund, which aims to raise the quality of Arabic content in the field of filmmaking.
