Showing posts with label Saudi Arabia Entertainment Industry. Show all posts
Showing posts with label Saudi Arabia Entertainment Industry. Show all posts

Tuesday, April 21, 2020

Saudi Arabia Amusement Park Market Outlook: Ken Research

The Saudi Amusement Park industry can be dated to 1986, when Atallah Theme Park was opened in 1986 across 45,000 square meters, followed by a renewal in 2008 and renovation and grand opening in 2010. Al Shallal theme park began construction in 1999 and became operational in 2004. The park is the topmost grossing theme park in terms of revenue and was built at a cost of USD 100 Million.
The Al Hokair Group became a leading group in terms of entertainment and recreational venues with its Sparky’s brand, through which it increased its market penetration and introduced large scale entertainment for children. The company’s portfolio consisted of 100 entertainment centers across 24 cities.
The liberalization of Saudi Arabia led to the Saudi Vision 2030, where megaprojects across KSA have been planned with completion before 2030 to increase entertainment revenue. Saudi Arabia has allowed women to enter amusement parks and entertainment venues, leading to the establishment of Al Hokair Time, Saudi’s the first women-only theme park, as well as Women’s only night in various other theme parks, thereby increasing visitors.
The Public Investment Fund of the Kingdom has announced to invest in setting up three theme parks under Six Flags brand in Saudi Arabia which is expected to operate by 2021, thereby helping the market to increase the revenues in the long term. Increasing urbanization coupled with expenditure on entertainment activities will drive growth in the future.
As part of the Vision 2030, the KSA the government aims to build top entertainment hubs including 15 new amusement parks across 13 cities, with the government aiming to increase spend on recreation from 2.3% to 6%. According to the Saudi Investment Authority, preference towards amusement parks ranks higher than cinemas, water parks and other recreational and entertainment activities, as the park is family-oriented, and includes larger audiences.
Saudi Arabia Entertainment Market
Saudi Arabia Amusement Park Market Segmentation
By Revenue Stream (Ticket Sales/Admissions, F&B, Merchandize, Games and Others)
Admissions had the majority share of revenue streams. In 2019, Admissions to amusement parks contributed ~% to the revenues generated by the market players. Private parties and groups are charges SAR ~ over the ticket price to accommodate dining faculties. Parks organizes group parties with at least 20 people group.
Student admission tickets were observed to be least priced ranging from 40-60 SAR, with provisions for rides as well as catering. Highest student admissions were observed during weekdays.
F&B: Major theme parks in Saudi Arabia have well-known restaurants and eateries present within their premises. People spend an average of three hours in a park which raises the demand for such food outlets. The increased demand for restaurants due to growing footfall in theme parks has made this segment contribute ~% in terms of revenue during 2019.
Merchandising showcased dominant share owing to a large number of corporate or school tours visits to theme parks being one of the major entertainment sources in Saudi Arabia.
Gifts and accessories shops, toy stores and other outlets which sell merchandise related to a particular park and add to the revenues of theme parks operating in the country. Since this merchandise is available at a high price, this segment added ~% to the revenues earned by theme parks in Saudi Arabia in 2019.
Arcade games among the revenue contributors to theme parks in the country. Theme parks also offer monthly and annual subscription to their services, wherein onetime payment is made for a particular period; thereby adding to the overall revenues.
Other ancillary services including parking services offered by theme park operators also contribute to the revenues. Parking and Royalty from third party vendors is also a part of this segment as these vendors either share their sales profits or provide fixed monthly rent.
Various partners such as hospitality, television, print and social media sponsors and various local partners have come together with an entertainment destination to attract customers and creating a revenue source for amusement parks in the process.
Future Outlook for Saudi Arabia Movie Theater Industry 2019-2025f
The movie theater industry in Saudi Arabia is expected to grow at ~% CAGR from 2019 to 2025F. With licenses granted to more than ~ international movie theater operators as of 2020, and more operators slated to enter the market, the market stage can be expected to enter late growth during the forecast period. As more players enter the market, the competition is also estimated to become less concentrated. High spending the appetite of Saudi and Non-Saudi nationals will also allow theater operators to offer luxury movie viewing and value-added services, thereby increasing the share of F&B revenues.
Comparative Landscape in Saudi Arabia Amusement Park Market
The competition scenario is fragmented in Saudi Arabia Amusement park market with top 5 amusement parks accounting for nearly ~% of the market in terms of annual revenue as of December 2019. In terms of holding groups, Dubai based Majid Al Futtaim, Fakieh Group, Al Hokair the group is the top three holding groups in the entertainment industry.
Future Outlook for Saudi Arabia Amusement Park Market 2019-2025f
The Amusement Park market in Saudi Arabia is expected to grow at ~% CAGR from 2019 to 2025. The growth will be driven by an increase in tourists into Saudi Arabia, the opening of at least ~ amusement and theme parks by 2020, construction and completion of various phases of Giga projects and an overall increase in leisure and entertainment industry in the Middle East, which is expected to receive at least USD ~ Million investments in 2020. The demand for various sizes of amusement parks will drive their establishment in various small, medium and large cities, allowing the various private companies to partner with Saudi Authorities.
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 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
Saudi Arabia Movie Theater Market Revenue in SAR Million
Number of Hajj Pilgrims in Thousands KSA
Saudi Arabia Theme Park Industry
Jeddah AMC Theater Market Revenue
Saudi Arabia Movie Theater Ticket Admissions
Saudi Arabia Movie Theater Advertising Market
KSA Leisure and Entertainment Industry
Tourism and entertainment in Saudi Arabia
Majid Al Futtaim Amusement Park Market Competitors
VR Gaming Customer Preference Saudi Arabia
For More Information on the research report, refer to below link: –
Related Reports by Ken Research: –
Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

Wednesday, April 15, 2020

Saudi Arabia Movie Theater Market Research Report: Ken Research

How Is Saudi Arabia Movie Theater Industry Positioned?
The Saudi Kingdom after a 35-year hiatus, brought back film exhibition in the country in line with its vision to make Saudi Arabia an entertainment hub in the middle east.  SEVEN, a subsidiary of the country’s sovereign wealth fund PIF entered into a joint venture with AMC Theaters, world’s largest theater chain to open the kingdom’s first theater in King Abdullah Financial District in April 2018. Since then, more than ten theaters have become operational as of December 2019. Under the auspices of General Entertainment Authority, ~ global cinema operators have been granted licenses to operate movie theaters.
GCC’s VOX Cinema currently operates ~ movie theater locations, while the homegrown MUVI Cinemas operates ~ movie locations. Both these operators specialize in premium movie experience with fine dining and IMAX experience.  SEVEN has been mandated with a budget of SAR ~ Billion to develop more than ~ Cinemas across the Kingdom, totaling more than ~ screens overall. With the population expected to reach Million by 2024, the entertainment sector is expected to boom in the growth phase period.
AMC and VOX have signed deals with SEVEN to launch more than ~ cinemas till 2030. Each has more than USD ~ Million allocated for the construction and operation of these theaters. The sector is expected to provide ~ jobs in this period.
The Saudi government entities have actively participated in funding and promoting a movie theater establishment. With a single theater in operation in 2018, more than ~ theaters came into operation by the end of 2019. The industry was worth SAR ~ million in the year 2019.
Non-Saudis constitute nearly 40% of the population from Asian, American and European origin along with 23 Million tourists as of 2018. This has made the screening of Hollywood and Bollywood content feasible.
Private cinema viewing, fine dining, 4D cinema and luxurious seats are few experiences offered in KSA which can provide large revenues from fewer footfalls. People in Saudi Arabia have been observed to have a strong affinity to commercial cinema with special screen formats that have forced movie companies to innovate cinematic offerings.
By Revenue Source (Ticket Sales, Food and Beverage, and Advertisements and Sponsorships):
Ticket sales constitute a majority share of total movie theater revenues. As the cinema industry is still nascent, this segment will continue to dominate. As more and more theaters open, and more people visit them, concessions on tickets will be more common. Nearly ~% of the movie theaters operating in Saudi Arabia had ticket admission revenues more than ~%, compared to mature companies such as PVR and AMC, which have between ~% average revenue share of ticket admissions.
Saudi Arabia Leisure Industry
F&B revenues are still growing and are not at par with countries with full matured theater industry, where their share of the revenue dominates movie theater revenue. On average, Saudi spends between ~ SAR on F&B.
Advertisement and sponsorship revenues are related to pricing of advertisement exhibition and the duration of the exhibition. Longer the duration of the advertisement, higher will be the price charged. Moreover, advertisements can be digital, in the movie and traditional in terms of posters and banners as well.
Saudi Arabia Movie Theater Market Competition Scenario
The competition is currently concentrated between VOX, AMC, and MUVI who operate 7, 2 and 2 theaters respectively as of January 2020. GEA has granted licenses to ~ movie theater chains. The overall movie theater revenues as of December 2019 were observed to SAR ~ Million, with VOX Cinemas Jeddah and VOX Cinemas Riyadh the top two movie theaters in terms of annual revenue.
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: -
Related Reports by Ken Research: -
Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

Thursday, April 9, 2020

Saudi Arabia Leisure and Entertainment Market Outlook to 2025: Ken Research

The report titled “Saudi Arabia Leisure and Entertainment Market Outlook to 2025-Movie Theatre Market by Revenue (Ticket Admissions, Food, and Beverage Sales, Advertisements and Sponsorships), Amusement Park Industry (Ticket Admissions, Food and Beverage, Merchandise, Games, and Others) and Alternate Entertainment Avenues (VR Gaming, Bowling Alley and Trampoline Parks)” provides a comprehensive analysis of the status of leisure and the entertainment industry in KSA. The report covers various aspects including the market potential, market segmentation and customer preferences in each segment. The report concludes with market projections for the future of the industry including forecasted industry size by revenue with a recommended market penetration strategy for a new entrant.
Saudi Arabia Movie Theater Market Overview and Size
Saudi Arabia movie theater market had begun taking shape after a 35-year hiatus. The Saudi government, in a bid to increase entertainment opportunities in Saudi Arabia, allowed screening of movies in 2018. AMC Cinemas was the first international movie theater chain to operate in Saudi Arabia with the KAFD screen that accommodates 490 patrons. As of December 2019, more than 9 movie theaters are operational across Saudi Arabia, with a maximum in Riyadh.
Market Segmentation by Revenue Source (Ticket Sales, Food and Beverages, and Advertisements and Sponsorship)
Ticket sales were observed to the dominant revenue source for movie theaters, in line with trends observed in emerging movie theater markets. The standard screen was observed to dominate the type of tickets and screens preferred by moviegoers due to their low cost and high availability. Similar to more developed movie markets, the majority of the demand for ticket sales was through the online medium.
Saudi Arabia Entertainment Market
Food and Beverages sales were second-highest for movie theater operators. Movie theater companies were observed to have earned a higher margin on F&B related costs. Currently, third-party vendors operating in movie theaters are rare and all offerings belong to the theater company. The average spending by Saudis on F&B in movie theaters were in the range of SAR 40-60.
Advertisements and Sponsorship included revenue from the exhibition of ads from distributors. Sponsorship revenue was included as most of the theaters operating in Saudi Arabia was new and therefore had greater sponsorship activity to increase footfall in theaters.
Market Competition
As of 2019, the movie theater the industry is concentrated between 4 players, with VOX Cinemas operating 7 out 9 theaters as of 2019. The Saudi Authority for a movie, General Entertainment Authority has given movie theater licenses to 7 operators as of January 2020. Currently, 4 cinema chains are operational in Saudi Arabia, namely Dubai based VOX and the USA based AMC, Saudi based MUVI Cinemas and Middle Eastern-based Empire Cinemas. Currently, VOX holds the market leadership position with more than 7 operational theaters across KSA, followed by AMC and MUVI with 2 locations each. Companies compete on the basis of ticket prices, type of screen formats, F&B packages and discounts among others.
Future Outlook
For the period 2019-20205, the movie theater industry in Saudi Arabia is forecasted to grow at a CAGR of 15% as more movie theater chains enter the market. As movie theaters face footfall challenges, discounts, movie passes can be expected on tickets as well as higher margins on F&B sales. For nationals with higher spending capacity, premium movies viewing formats such as 4D, IMAX and other luxurious offerings such as fine dining and private viewing will help movie theater operators to gain higher revenue from fewer admissions.
Saudi Arabia Amusement Parks Market Size
The amusement park industry in Saudi Arabia is fragmented with various types of amusement parks in operation including theme parks, water parks, entertainment parks in malls, snow-based parks among others. The market grew at a single-digit CAGR. The Al Hokair group and Al Futtaim group are the leading businesses in the amusement park establishments, with Al Shallal Theme Park, Al Hokair Land, and Jungle Theme park. The growth in tourists and their entry with tourist visas and the government’s push for an entertainment-based economy has driven the market in the review period.
Market Segmentation
Ticket Sales and Admissions in 2019 for amusement parks include sales of walk-in tickets, online, and groups and parties. This the segment was observed to have accounted for the highest share of amusement park revenues, as the average ticket price includes an entry fee to be paid irrespective of rides.
Food and Beverages revenues include sales from stalls and restaurants as well as catering services offered inside the premises. Catering services are offered to groups such as schools, corporate, ladies’ nights among others. This segment accounted for the second-highest share of overall amusement park revenues in 2019.
Merchandise Sales in 2019 accounted for the third-highest of amusement park revenues in 2019. All amusement parks sold souvenirs, clothes, toys and other accessories at shops and stalls inside the premises.
Games and arcades revenues from Amusement parks had specific gaming arcades for families, children and women which include traditional arcade games as well as new games that included VR and bowling.
Other revenue sources include royalty from third party food vendors if any, parking charges, and sponsorship revenues for events that are conducted in the amusement park such as water shows, magic shows, and other exhibitions.
Market Competition
The nature of competition is fragmented in terms of amusement parks. The region has various amusement parks, family entertainment centers, water parks, and theme-based parks. Al-Shallal theme park is the oldest operating theme park in Saudi Arabia and holds the highest market share in terms of revenue as well as admissions as of 2019. Other parks include Al Hokair Land and Atallah Happy Land which have the next highest revenues.
The nature of competition in terms of holding companies is moderately concentrated as Majid Al Futtaim and Al Hokair group are market leaders with annual revenues from entertainment and family-oriented destinations exceeding SAR 1 Billion for 2019. Fakieh Group is another holding company, which owns Al-Shallal theme park.
Alternate Entertainment in Saudi Arabia
Alternate entertainment avenues have been identified in Saudi Arabia based on their attractiveness for investors as well as customers. These avenues are identified according to the Vision 2030, which expects Saudi nationals to engage themselves in leisure, entertainment and specifically recreation with an interest in physical activity.
Virtual Reality gaming is extremely new in Saudi Arabia and has major applications to business enterprises than in gaming and leisure. Currently, Vogel and Off the Grind (OTG) provide VR solutions for businesses while OTG also provides gaming solutions, Zero Latency is Saudi Arabia's first free-roam VR gaming arcade. The payback period for investment in a lease based operating model was observed to be highest.
Bowling Alleys are common in Saudi Arabia as the sport has a long history in the kingdom. The Universal Bowling Center in Riyadh operates according to International Bowling Standards and conducts various tournaments for professionals as well as leisure seekers.
Trampoline Parks are somewhat common in the kingdom with international operators such as Skyzone and Bounce having operations in Jeddah, Riyadh and Al Khobar. With the purpose of exercise and recreation, trampoline parks attract schools, corporate, females only among others with an aim to improve lifestyle and fitness, as well as entertainment.
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: -
Movie Theater Market Current Scenario and Future Outlook
Investment Analysis for Setting up Movie Theater
Customer Preference Survey for Movie Theaters
Investment and Regulatory Scenario in Movie Theater Industry
Case Study Analysis of Successful Movie Theaters in Middle East
Amusement Park Market Current Scenario and Future Outlook
Investment Analysis for Setting up Amusement Park
Customer Preference Survey for Amusement Parks
Investment and Regulatory Scenario in Amusement Park Industry
Case Study Analysis of Successful Amusement Parks in Saudi Arabia
Alternate Entertainment Avenues for Investment in Saudi Arabia
Investment Analysis of Alternate Entertainment Avenues
Customer Preference Survey for Alternate Entertainment
For More Information on the research report, refer to below link: -
Related Reports by Ken Research: -
Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249