VR Gaming centers, trampoline parks, bowling alleys, and family entertainment centers are expected to see greater footfall as these destinations will be spread across major cities across Saudi Arabia.
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- The percentage of household expenditure spent on leisure and entertainment is expected to rise from 2.9% in 2019 to 6% by 2025, which is forecasted to drive the establishment of entertainment destinations.
- Saudi Arabia is divided into 3 large cities, 3 medium cities, and 7 small cities. Amusement Parks and Family Entertainment Centres are expected to be established in these cities in corresponding sizes bringing the total FECs to nearly 66 by 2030.
- 7 movie theatre chains have received operating licenses as of January 2020, while only three chains are operations as of December 2019. The number of movie theatres operational by the end of 2025 is expected to cross 60.
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Growth in Retail Real Estate Industry: Retail real estate includes the development of regional and super-regional malls, community centers, and entertainment destinations among others. The growth in the supply of retail real estate is expected to grow by 9.8% CAGR and the occupancy rate is expected to average 92% for the period 2019-2025. With 100% FDI allowed in retail real estate since 2016, foreign entities can find favorable investment terms additionally for entertainment-related destinations such as movie theaters, gaming centers, FECs, and mini amusement parks among others.
A growing need for Partnerships within the Movie Theater Ecosystem: Movie theater industries are expected to hedge their entry into the Saudi Arabian movie theater market with some sort of partnerships within the movie ecosystem including advertising rights sellers, movie distribution companies, and business groups with existing licenses in Saudi Arabia and screen format providers. Such partnerships are expected to drive entry into the movie theater industry. For instance, Indian theater chain PVR and UAE Majid Al Futtaim have signed an MoU for entry into Saudi Arabia and other regional markets.
The report titled “Saudi Arabia Leisure and Entertainment Market Outlook to 2025 – Movie Theater Market by Revenue (Ticket Admissions, Food and Beverage Sales, Advertisements and Sponsorships), Amusement Park Industry (Ticket Admissions, Food and Beverage, Merchandise, Games and Others(Parking, Sponsorships and Royalty)) and Alternate Entertainment Avenues (VR Gaming, Bowling Alley and Trampoline Parks)” by Ken Research suggests that household expenditure on leisure and entertainment is expected to drive the market in terms of revenue for the forecast period 2019-2025. The Saudi government’s Vision 2030 is expected to favor investors looking to establish entertainment destinations in terms of ownership, return on equity, payback period and funding assistance among others. The movie theater and amusement park markets are expected to grow at a CAGR of 15% and ~6% respectively for the forecast period 2019-2025.
Key Segments Covered: –
Movie Theater Market
Ticket Admissions
Food and Beverages
Advertisements and Sponsorships
Amusement Park Market
Ticket Admissions
Food and Beverages
Merchandise
Games
Others (Parking, Royalty and Sponsorships)
Alternate Entertainment Investment
VR Gaming Center
Bowling Alley
Trampoline Parks
Key Target Audience
Movie Theater Companies
Film Distribution Companies
Screen Format Companies (IMAX, 4D, 4DX)
Government Entities
Amusement Park Operators and Chains
Real Estate Developers
Mall Operators and Groups
Time Period Captured in the Report:
Historical Period – 2014-2019
Forecast Period – 2019-2025
Companies Covered in Report:
AMC Theaters
VOX Cinemas
MUVI Cinemas
Al Hokair Group
Al Shallal Theme Park
Off the Grind
Emirates Bowling Alley
BOUNCE Trampoline Park, Jeddah
Key Topics Covered in the Report: –
Saudi Arabia VR Gaming Revenue
Movie Theater Investment Saudi Arabia
MUVI Cinemas Sales Revenue
AMC Theatres Revenue Saudi Arabia
entertainment policy of Saudi Arabia
Saudi Arabia entertainment ventures
Media and Entertainment Industry in Saudi Arabia
Tourism, leisure and Entertainment in Saudi Arabia
Funding Model for Amusement Parks in KSA
Theme and Water Parks in Saudi Arabia
Number of Hajj Pilgrims in Thousands KSA
Saudi Arabia Theme Park Industry,
Tourism and entertainment in Saudi Arabia
For More Information on the research report, refer to below link: –
Saudi Arabia Leisure and Entertainment Industry Growth
Related Reports by Ken Research: –
Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
