The Movie Theater market saw large investments, from international, regional and local movie theater companies, in the period 2018-2019 with 7 companies receiving operating licenses from GCAM, of which 3 companies set up more than 110 screens across 11 locations at the end of 2019.
Financial Assistance: Saudi Entertainment Ventures, SEVEN, has been promoting investment in Saudi Arabia through private sector participation in ventures such as movie theaters, entertainment destinations, amusement parks among others. AMC Theaters opened KSA’s first movie theater with a 10% equity contribution. The investment arm of the Public Investment Fund, SEVEN had been mandated with USD 10 Billion for investment in the leisure and entertainment sector. The organization has confirmed setting up 20 entertainment destinations, 50 movie theaters and 2 amusement parks across Saudi Arabia.
Growth in Inbound Tourism: Although primarily driven by religious tourism, the number of tourists grew from 18.3 million in 2014 to nearly 26 million by 2019. The government has also begun the first phase of issuing tourist visa or visas on arrivals from 49 countries. The government has issued 400,000 tourist visas as of March 2020. The first phase of tourist visas issuance is concentrating on tourism around beaches, deserts, mountains and heritage sites. The second phase of visa issuance will concentrate on tourism around Giga projects
Key Investment Locations: For movie theaters and amusement parks, major top cities such as Riyadh, Dammam, and Jeddah were observed to be hotspots due to their large size, higher comparative monthly income and expenditure, and high retail occupancy rates among others. Al-Khobar, an eastern city, saw the opening of various alternate entertainment investments such as bowling alleys, VR gaming as well as trampoline parks as the region had high tourism with nearly 60% occupancy in hotels in 2019.
The shift in Socio-economic Norms: Since the relaxation of rules regarding women, many entertainment destinations have welcomed this shift with the introduction of women’s only nights, such as in bowling alleys, amusement parks and trampoline parks among others. Al Hokair Time was the kingdom’s first women’s only amusement park, which began operations in 2019. The entry of women has led to innovation in products and offerings such as driving lessons on Virtual Reality equipment, mock driving lessons in amusement parks and trampoline parks introducing women’s fitness programs.
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 suggested that investment in Leisure and Entertainment sector in Saudi Arabia has been growing since the unveiling of VISION 2030 in 2017. The government’s aim is to increase GDP from non-oil sources have led to revoking the ban on movie theaters, increased investment in amusement parks and FECs, and favorable investment climate for foreign investors. The movie theater industry and the amusement park industry are projected to grow at a CAGR of 15% and 5.3% respectively.
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 Entertainment Industry
KSA Leisure and Entertainment Industry Research Report
Saudi Arabia Leisure Industry
KSA Entertainment Market
KSA Entertainment Industry
Saudi Arabia Movie Theater Market Growth
spending on entertainment in Saudi Arabia
Saudi Arabia Movie Theatre Market Growth
Film Distribution Companies in Saudi Arabia
Saudi Arabia Entertainment Market Growth Rate
Movie Theater Companies in Saudi Arabia
Saudi entertainment Major companies
KSA Amusement Park Operators and Chains Analysis
Saudi Arabia Screen Format Companies Growth
Saudi Arabia VR Gaming Revenue
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
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