Published on : Sep 11, 2019
Albany, New York, September 11, 2019: In April 2018, a wholly owned subsidiary of the Public Investment Fund (PIF) The Development and Investment Entertainment Company (DIEC) in collaboration with AMC Entertainment oversaw the launch of Saudi Arabia’s first public cinema. The kingdom aims to open 50-100 cinemas across the Saudi Arabia by 2030 as the government vies to jump on the bandwagon and start a domestic leisure industry. Predominantly, this is set to ignite investment by the private sector and bring a momentum change in the country.
These insight are according to the intelligence report, titled, “Saudi Arabia Cinema Market by Revenue, Mulitplex Format, Region and End User (Family, Spouse, Single Moviegoers/Alone, Kids-Only and Others) & Companies,” which has been freshly added to Market Research Hub’s (MRH) overarching armamentarium.
Unprecedented growth of the cinema sector has been substantiated by the opening of Saudi Arabia’s second cinema by VOX Cinemas. In the same vein of DIEC, VOX eyes to bring a quantum leap in cinema industry and plans to invest US$ 533 million to open 600 screens across Saudi Arabia and provide around 3,000 jobs in a span of five years.
Many an international cinema operators seek to gain foothold in the kingdom’s compelling cinema’s market-have inked MOUs with local or regional partners. For instance, AI Tayer Group and the fourth largest exhibition circuit in the world Cinépolis have joined hands with AI Hokair Group. In light of it, Saudi General Commission for Audiovisual Media granted a Cinema Operating License.
Saudi Cinema industry is expected to work to promote and conserve national heritage and talent by screening movies produced by local producers and will relentless work towards exporting local content globally.
Saudi Arabia Cinema Market: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the Saudi Arabia cinema market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Saudi Arabia cinema market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on Saudi Arabia cinema market.
An insightful and deep-dive assessment of the competitive assessment of the Saudi Arabia cinema market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the Saudi Arabia cinema market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
Saudi Arabia Cinema Market: Research Methodology
Primary sources and secondary sources propel intelligence report on Saudi Arabia cinema that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst. Report on Saudi Arabia cinema market further acknowledges secondary sources-namely-Factiva, EC filing, press release, trade journals, resourceful database and governmental websites.
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