Cinema : back in KSA after a ban of 30 years
April 18, 2018 is the day Saudi Arabia witnessed the opening of its first licensed movie theater after a ban of 30 years. The opening ceremony, held in King Abdullah Financial District, was sponsored by the Minister of Culture and Information, Awwad Alawwad. The ceremony included a special screening of the Hollywood movie “Black Panther”.
The country welcomes investors wishing to be part of the Kingdom’s diverse economic strategy through investment in the entertainment sector. The General Commission for Audiovisual Media (GCAM), working together with the Ministry of Culture and Information, is responsible for the grant of cinema licenses. So far, there are only two movie theater operators in Saudi Arabia. The operator who won the first license is American Multi-Cinema (AMC); the other currently-licensed company is Dubai’s VOX Cinemas.
Of course, the door remains open to investors in this sector from all over the world. Investment in entertainment projects is a major focus of the new Saudi Arabian economic strategy.
Interested in opening a movie theater – or a whole chain? Expand your horizons, and your business, and be among the pioneers in the Saudi Arabia movie theater industry by bringing your business here. Our Team at T&S are ready to provide you with all the business consultation and support you need, as well as the most current market information to ensure that you achieve your goals.