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/EIN News/ — Gurugram, India, July 27, 2022 (GLOBE NEWSWIRE) —
- As the film industry has evolved rapidly in Saudi Arabia, especially since the Kingdom lifted the 35-year ban on cinemas in December 2017, international and regional companies have had the opportunity to contribute to the development of the domestic entertainment industry.
- Cinema operators in Saudi Arabia are looking to increase their presence across the country, in major cities and rural areas, to meet the growing demand for movie tickets.
- Several initiatives have been undertaken by the government, including the support and training of local filmmakers, the improvement of relevant infrastructure, the establishment of a regulatory framework and the creation of a national film fund.
There will be more licenses distributed in the coming years to international theaters, and as more competitors enter the market, the competition will become less concentrated. In addition to cinemas, local film content and culture will be promoted through film festivals like the Red Sea Festival and the Saudi Film Festival, which showcase locally shot films, which will also increase popularity. theater. With Saudi Arabia’s high spending capacity, private cinema viewing, fine dining, high-end film formats, such as IMAX, 4D, VIP services and immersive cinematic experiences will be well received.
The report titled “Saudi Arabia Movie Theater Market Outlook to 2026: Growth Driven by Ambitious Government Initiative, Influx of Multinational Movie Companies and Pent-up Demand for Feature Films” by Ken Research has suggested that the Saudi theater market is expected to grow at a positive double-digit CAGR over the next few years. The market size of tickets sold, F&B revenue, advertising and sponsorship is expected to grow over the next few years at a positive rate.
Key Segments Covered:-
Segmentation of the theater market
By source of income
- By ticket sales
- By F&B turnover
- Through advertising and sponsorship
- By fixed and capital cost
- Salaries and treatments
- Interest expense calculations
- Operating Expenses
- Revenue model
Period entered in the report:
- Base year: 2021
- Forecast period: 2022F–2026F
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Key Players Covered in Saudi Arabia Theater Market
- Voice Cinema
- AMC Cinema
- MUVI Cinema
- Empire Cinema
Main topics covered in the report
- Presentation of the theater market in Saudi Arabia
- Market ecosystem
- Value chain analysis
- Main challenges of the theater market in Saudi Arabia.
- Saudi Arabia Theater Market Detailed Analysis (Market Size, 2021; Market Segmentation; Market Shares; Competition Overview; Future Market Size, 2026F)
- Customer preference for cinema viewing experience in Saudi Arabia
- Investment model to set up a cinema hall in Saudi Arabia
- Case Study of Successful Film Businesses
- Overview of the new film regulatory regime
For more information on the research report, refer to the link below:
Saudi Arabia Movie Theater Market Outlook to 2026
Revenue generated by theme parks in the Middle East grew from ~USD million in 2014 to ~USD million in 2016, registering a CAGR of ~% during the period 2014-2016. The efforts made by the government to improve the tourism sector of the countries has been the major reason responsible for the positive driving of the theme park market. The increased influx of tourists visiting the Middle East has increased the number of theme park visitors, which has enabled them to generate increased revenue during the reporting period. The Middle East theme park market has also grown owing to the growing demand for entertainment services in the country.
Qatar’s economy depends mainly on its natural resources of petroleum and natural gas, which account for around 60% of the country’s GDP. However, Qatar has started to diversify into related sectors including leisure and entertainment due to the boom in tourism in the country. Revenue generated by theme parks in Qatar was estimated at ~USD million in 2016 compared to ~USD million in 2014, registering a CAGR of ~% during the same period. Highly innovative and unique theme park concepts aimed at various target audiences were one of the factors contributing to revenue growth during the reporting period.
Industry insights have indicated that the majority of theme park operators have developed rides that cater to children under the age of 18. The youth population in the country has grown from ~thousand people in 2014 to ~thousand people in 2016, leading to an increase in theme park visitors over the same period. The growth of this market will continue in the future with the increase in the opening of theme parks to the public in 2017. In addition, government initiatives aimed at further increasing tourism will also have an impact on the revenues generated by the theme parks. theme parks.
The United Arab Emirates is considered the favorite holiday destination for international tourists visiting the Middle East. There is a strong positive correlation between the number of international arrivals in the country and increased theme park attendance. Theme parks do not singularly attract visitors to the country; however, they have a crucial impact on the length of stay of tourists visiting the country. Thus, companies and investment groups are increasing their capital expenditure to introduce multi-theme parks while others are expanding their area of operation in existing theme parks due to the expected increase in tourism in the future.
Revenue generated by theme parks in the UAE grew from ~USD million in 2014 to ~USD million in 2016, registering a CAGR of ~% during the period 2014-2016. The country has seen an increase in the influx of tourists into the country from ~million people in 2014 to ~million people in 2016. Over the same period, theme park attendance has increased from ~million people (2014) to ~ million people (2016). Industry insights indicated that tourism revenue generated in the county grew to reach ~USD billion in 2016.
Ankur Gupta, Marketing and Communications Manager
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