International companies compete for cinema market in Saudi Arabia
Video     Photos     Pakistan     World     Islam     Health     Crime     Islamic News     Business     Society     India     Travel     Middle East     Sport     sci/tech      Contact      RSS

US Escalates Afghan Airstrikes Through Winter, But Will It Matter?

Saudi Crown Prince to form a private army with help from American Blackwater Corporation!

Iranian youth are fully supportive of their political system: Asia Times

Pakistan’s enemy is our enemy, not in favor of Baloch separatists: US

ASWJ-allied Deobandi Fazalur Rehman elected MMA president

Encounter specialist: Can Zardari save his arm child Rao Anwar in Naqeebullah’s murder case?

Waging war against Pakistan army prohibited in Islam: Ex-Terrorist organization Chief Sufi Muhammad

Free Karachi: Another smear campaign against Pakistan in US newspaper

US military edge over Russia, China eroding: Mattis

5,000 Yemen Children Killed or Wounded in War Since 2015

Iran reiterates Missile program non-negotiable

Trump no longer following Saudi-UAE script on Qatar, says former envoy

Allama Raja Nasir lashes out at Nawaz Sharif and Shahbaz Sharif

Did TTP really assassinate Benazir Bhutto?

A Jewish plot: Pushing India against China, Pakistan and Iran

An old headache: How did Haqqani network bring US on the knees

India successfully test-fires nuclear-capable intercontinental ballistic missile: New Delhi

Saudis wasting billions by buying outdated weapons from US: Analyst

HRW urges UN sanctions on Saudi crown prince over Yemen war

Another minor raped: Why is Pakistan hesitant to hang rapists?

Modi and Netanyahu may get along great, but there are serious limitations to India-Israel relations

Season of protests: Is another national debacle in the offing?

Pakistan attaches importance to significant role of Iran in regional developments: Speaker

Hidden Israeli-Iranian war in Syria

Is Jordan breaking alliance with Saudi Arabia, West?

Russia weights behind Pakistan:  The end of US hegemony in South Asia?

Damage control: Has Trump conceded his defeat against Pakistan?

North, South Korea to march under 'unified flag' at Winter Olympics

US 'arrant erring' on al-Quds futile: Ayatollah Khamenei

Netanyahu: $500mn Israel-India arms deal 'back on track'

Saudi politicization of holy places is unislamic, we will continue to oppose

Israel prepares for air bridge to India over Saudi Arabia

Don’t forget old friends to make new one

Ulema decree against terrorism: Would religious card prove a true success against terrorism?

New network should be created to confront US-Israel alliance: Raza Rabbani

America seeks to use Taiwan against China: Today Online

Pakistan’s ruthless response to US: Why is India worried?

Shafaqna Exclusive: Is Govt hiding arrest of Zainab’s murderer for political purpose?

US new strategy seeks to create complex situation for Iran: Defense minister

Hamas blames Israeli regime for assassination attempt on its commander

US attacking North Korea would be like trying to get rid of Allah: Retired South Korean General

Egypt is not an honest broker for Palestinian reconciliation

Pakistan and Iran consult each other on many issues, says former diplomat

Surrendering of TTP terrorist: Is Pakistan gradually winning war against terrorism?

Inciting Pakistan: Is India inviting conventional war with Pakistan?

The secret behind Sharif's electoral success and popularity

Tel Aviv ‘disappointed’ by India’s rejection of Al-Quds as Israeli capital: Netanyahu

Syria militants in US seeking CIA dollars to ‘confront Iran’s influence’

US ‘policy of Armageddon’ means nuclear attack even against non-nuclear states

Rape, murder of 7-year-old Pakistani girl seem work of serial killer: Officials

Yemeni snipers kill three Saudi troopers in retaliatory attacks

Tunisia’s Jasmine Revolution

US to sell 17 Black Hawk aircrafts to Saudi Arabia

Saudi Arabia seeks arrest of citizens on wanted list who are abroad

US deploying 1,000 troops to Afghanistan

Israel Keeps Bombing Syria and Nobody Is Doing Anything About It

Fire-breathing rhetoric: Pakistani guns on China’s shoulder

Meeting with Trump: Did Imran Khan give US a hidden signal for future role?

Netanyahu in India: A dangerous alliance against Pakistan

Pakistan can’t be forced to compromise on national interests: US historian

Netanyahu Visits India: Muslims Burn Israeli Effigies in Protest

US-led coalition intends to create large new border force in Syria: Report

Interference of Saudi Intelligence services in Tehran’s deep operations

Hariri lauds Hezbollah, wants ‘best of relations’ with Iran

16 US troops and officers killed in Afghanistan

A hidden cost: Pakistan’s Psychological cost of war

Security agencies issue threat alert due plots of Daesh and Taliban factions

Can Pakistan’s judicial system punish killers of Innocent Zainab?

Is Balochistan a next ground of proxy war between Saudia and Iran?

ABN| Mass 'Free Zakzaky' protest in Istanbul, Turkey

Trump Gives World Four Months to Change Iran Nuclear Deal

Anti-Trump demonstrators march in Swiss capital

All parties must continue to implement JCPOA: Warns China's FM

Yemen's Displaced Families Escape Death from Saudi War to Makeshift Camps

Amnesty International urges probe after Myanmar’s Army admits its troops killed Muslims

Kasur Tragedy: Is Pakistani nation completely dead?

Trump Says He ‘Probably’ Has Good Relationship With Kim Jong Un

Pentagon Investigates Video of US Soldier Shooting Afghan Civilian

Abandoning the secular dream

Agony of Hazaras: A story of denied Justice

A soft tone: Did US repent on her policy to alienate Pakistan?

Even Saudi allies are questioning its Mideast power plays

Pakistan handed humiliated defeat by New Zealand

Trump paid porn star $130,000 to stay silent over alleged affair: Report

After Yemen’s defensive threat, Saudi buys Israel’s Iron dome

CIA Chief secretly visits India and Afghanistan to make new plots

LHC orders police to arrest culprit behind Zainab's rape and murder within 36 hours

Yemen announces production of new air defense missiles

Secret military cooperation between Saudi Arabia and Israel – Middle East Monitor

Will Pakistan be in trouble if US demands early repayment of debts?

War of words: Pakistan accuses US for spreading terrorism in Pakistan

Myanmar admits massacre of Rohingya Muslims

‘Congress must take Trump’s finger off nuke button’

Diphtheria claims 48 lives in Yemen within 60 days: WHO

Leaked tapes reveal Egypt’s support for Trump’s Jerusalem decision

Unending bloodshed in Kashmir: Why is not India on watch list?

New Saudi tax makes life of Pakistani expatriates miserable

HRW: Saudi Arabia bans prominent cleric’s family from travel

Qadri’s challenge: Is PML-N inviting the chaos?

Inside Bahraini regime death chambers

2018-01-07 11:55:15

International companies compete for cinema market in Saudi Arabia


The world’s largest film companies are stepping up their plans to open cinemas across Saudi Arabia after the kingdom issued a resolution to lift a 35-year ban on such entertainment venues, Huffington Post Arabic has reported. According to a report published in the Financial Times, Britain’s Vue Entertainment, America’s AMC and the Canadian IMAX Corporation are among the most prominent companies competing to open cinemas in the Kingdom. The first could open as soon as March.


The lifting of the Saudi ban provides these companies with the opportunity to recover from a downturn in business in North America and Europe, where their main markets are. Saudi Arabia is a hugely promising market, which is apparently hungry for cinemas. The government in Riyadh has revealed its willingness to provide financial support for the expansion of the film industry and its market.


According to estimates, 300 cinemas will open in the Kingdom by 2030, creating 30,000 jobs and boosting the economy by around $24 billion.


Vue Entertainment is among those moving forward with their plans. Informed sources say that the company is already talking with a $200bn Saudi sovereign wealth fund. It hopes to open 20 to 30 cinemas across the country. According to the Financial Times, Vue CEO Tim Richards received a personal invitation from Saudi Crown Prince Mohammad Bin Salman to attend a business conference in October, which was attended by senior CEOs from various international companies.



The aim of the conference was to review Bin Salman’s plans to modernise the conservative Kingdom and attract investment. One goal is to increase the average expenditure of Saudi families on entertainment to reach six per cent of the GDP; it is currently at 2.9 per cent.


Vue did not comment on the projects, but Richards described the opening of the Saudi market as “an exciting moment in the history of cinema.” He added: “This may become an important opportunity for Vue as it has fantastic projects underway, and we look forward to completing our discussions in the region.”


AMC is the world’s largest company in terms of the number of cinemas that it owns, which includes the Odeon chain. It signed a memorandum of understanding with the Saudi Public Investment Fund last month, saying it would “consider options for trade opportunities cooperation that will support the growth of the Kingdom’s leisure sector.” However, AMC did not reveal any details of its projects and declined to make further comments on the matter.


Nevertheless, the official spokesman of the Saudi Public Investment Fund said that it sees many promising opportunities in the Kingdom’s leisure sector. “We look forward to working with AMC Entertainment to explore the industry’s development opportunities, the value of which is expected to reach $1bn.”



The CEO of the Canadian large screen IMAX Corporation, Richard Gelfond, said that the company is already managing the only cinema in Saudi Arabia, which was opened at the Sultan Bin Abdul Aziz Centre for Science and Technology in 2005 and features educational films.


“We have been monitoring the situation closely for a year now,” explained Gelfond, “and we are already engaged in preliminary negotiations with a number of film operators interested in the region. We are about to announce our first deal in the Kingdom, and we believe that in three years we will be able to open 20 cinemas there.”


He pointed out that IMAX has done well in its performance and growth in the Middle East in recent years. “Since Saudi Arabia is a market for quality luxury products, we expect it to be a promising market with strong growth.”


Other companies have also been preparing for liberal modernisation and openness in the Kingdom for months. They have started to build the infrastructure for the announcement on cinemas. In December, Majid Al-Futtaim, a Dubai-based shopping centre operator, said he would open a branch in Saudi Arabia for his company’s Vox Cinema brand.


The background to all of this is that cinemas have been banned in Saudi Arabia since the early 1980s. The Crown Prince’s modernisation plans aim to boost domestic spending and reduce the flow of cash to more open destinations such as Dubai and Bahrain, both of which are popular tourist destinations for Saudi citizens.


However, according to one of the CEOs who attended the negotiations with the Saudi authorities, the cinemas that are to be opened will be designed with the conservative values of the Kingdom in mind. This means allocating whole cinemas or certain seats to single men, families and women. The interviewee added that the distributors must also submit their films to be censored prior to them being shown.



Leave a Reply

Your email address will not be published. Required fields are marked *

Categories:   World ،
Tags:   saudi arabia ، Kingdom ، Cinema ،
From other agencies (RSS Reader)

Pence heads to Mideast trip