Saudi Arabia Tipped To Become $1B Box Office Market By 2025: Growth Outlook

for the first time in 35 years back in late 2017, there was excitement from international exhibitors and Hollywood studios who saw a fertile new market of opportunity. Importantly, 70% of the Kingdom’s 34M population is under 30 and has money to spend.

And spend they have, with impressive box office progression. From April 2018 through late December this year, grosses reached over $454M, per comScore. Even with the Covid shutdown in 2020, that year saw a 26% increase on 2019. This year so far is already 85% bigger than last at about $230M. Saudi currently ranks as the No. 14 global market .Says one international distribution exec of Saudi’s potential, “It’s going to be really important. It’s going to be a billion-dollar market.

The Emirates-based Vox recently opened its 15th multiplex in the Kingdom and now has 154 screens while Muvi just opened its 18th site. Exhibition giant

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

AMC Lags Behind in Saudi Arabia’s Surprisingly Competitive Cinema MarketAMC was expected to dominate the Saudi cinema market when the kingdom’s movie theaters reopened in 2018. Instead, local competitors have leapfrogged the American giant. hey, if they dont hae the vision get money the way you know how to tepat sekali....
Source: WSJ - 🏆 98. / 63 Read more »