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Total cinema revenue in Saudi to hit $1.5b annually by 2030
BY OUR BUSINESS BUREAU November 02, 2018
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RIYADH: Total cinema revenue in Saudi Arabia is expected to reach $1.5 billion (Dhs5.5 billion) in 2030, according to a research by PwC Middle East, a global advisory firm.

“By 2030, Saudi Arabia is expected to host 2,600 cinema screens that will entertain its growing population,” Dr Martin Berlin, Middle East Partner and Global Deals Real Estate Leader at PwC Middle East, told delegates at the two-day Mena Cinema Forum that concluded on Monday.

“Based on global and regional benchmarks, we expect the KSA to accommodate between 300 and 370 cinema locations.”

Dr Berlin based his projection on a projected 2030 population of 39.5 million, and 6.6 screens per 100,000 people.

“Based on pricing of $11 - $14 for lower end formats, and $40 for luxury formats, the KSA could generate $950 million in box office revenues by 2030. As other revenue streams typically account for 35 per cent of overall revenues, this brings the total to $1.5 billion,” Dr Martin Berlin added.

The Gulf region will see the development of more than 1,000 new cinema screens in the next three to five years, as developers and cinema operators announced massive investment plan at the first-ever Mena Cinema Forum that took place in Dubai last week.

The region has 1,300 cinema screens in operation.

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