Showing posts with label Saudi Arabia Cinema Market Revenue. Show all posts
Showing posts with label Saudi Arabia Cinema Market Revenue. Show all posts

Wednesday, August 10, 2022

Saudi Arabia cinema Industry Size, Share and Forecast : Ken Research

Growth Potential in the cinema industry: It is expected that Saudi Arabia will become one of the top 20 film industries in the world within the next few years under a new strategy that has established the Kingdom as a "world-class film hub." This will boost Saudi Arabia's entertainment industry. As a result of fantastic leadership and industry experts, there is tremendous growth potential in the Saudi cinema industry. Having laid a lot of groundwork in the last four years, the Saudi cinema industry has already attracted the attention of movie theater stakeholders worldwide and is on track to becoming the leader in the region. Additionally, the cinema industry will promote and preserve national heritage by screening movies produced by local producers and will export local content internationally.  

COVID-19 Impact on Saudi Arabia Theatre market:

COVID-19 negatively impacted the market in the country as there was a complete lockdown. Even after the lockdown had been lifted, people were still afraid to watch a movie due to health concerns. Nevertheless, as the covid cases have decreased, the recovery has been evident and will continue. In the coming 5 years, however, it is thought that occupancy will decrease because there is going to be a rapid increase in theatres, as well as OTT platforms that are becoming very popular amongst people for their convenience.                                                  

Many Saudi residents travel to neighboring countries to enjoy entertainment, including the UAE and Bahrain. The cinema industry can be stimulated by investing in cinemas within the country to reverse this trend and inject recreational spending back into Saudi Arabia as the spending power of the Saudi people is high, and they are ready to pay an extra penny to have the best experience.

 The report titled Saudi Arabia Movie Theater Market Outlook to 2026growth is driven by ambitious government initiative, influx of multi-national movie theater companies and pent-up demand for feature cinema” by Ken Research suggested that the Theater market in Saudi is expected to grow at a positive double-digit CAGR over the next few years. The market size of the ticket sold, F&B revenue, advertisement, and sponsorship are expected to grow over the next few years at a positive rate.



  Key Segments Covered

 Theatre Market Segmentation

By Source of revenue

  • By Ticket Sale
  • By F&B revenue
  • By Advertisement and Sponsorship

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Investment Model

  • By Fixed and capital cost
  • Wages and Salaries
  • Interest cost calculations
  • Operating expenses
  • Revenue Model

Time Period Captured in the Report:

  • Base Year: 2021
  • Forecast Period: 2022F–2026F

 Major Players Covered in Saudi Arabia Theatre Market

  • Vox Cinema
  • AMC Cinema
  • MUVI Cinema
  • Empire Cinema
  • Cinepolis

Key Topics Covered in the Report

Saudi Arabia Movie Theatre Market Introduction

  • Market Ecosystem
  • Value chain Analysis
  • Major Challenges in Saudi Arabia Movie Theatre Market.
  • Detailed Analysis of Movie Theatre Market in Saudi (Market Size, 2021; Market Segmentation; Market Shares; Competition Overview; Future Market Size, 2026F)
  • Customer Preference for Cinema Viewing Experience in Saudi Arabia
  • Investment Model to Setup Movie Theater in Saudi Arabia
  • Case Study on Successful Movie Theater Ventures
  • Overview of New Cinema Regulatory Regime

For more information on the research report, refer to the below link:

Saudi Arabia Movie theater market outlook to 2026: Ken Research

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Tuesday, August 9, 2022

Saudi Arabia Cinema Market Research Report By Revenue, Multiplex Format, Region and End User : 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.

The focus on expanding the entertainment and leisure industry is leading to increased investment opportunities for both foreign and domestic companies. In the entertainment sector, 500 new companies have been established in the past 12 months. This trend is likely to continue with multiple tourism related companies are expected to enter the market as demand further increases.

With the aim of securing a 70/30 ratio of non-religious to religious foreign visitors by 2030, the kingdom has developed a tourism plan which is squarely focused on leisure and relaxation. Substantial investment has been earmarked for expanding and diversifying offers in international events, luxury destinations, heritage sites, and eco-tourism, and government agencies have announced major agreements with travel agencies, real estate, and retail companies as well as major hotel groups.

While most of the new Saudi Arabia Movie THeater Market are likely to screen predominantly international productions, the growth in the sector is expected to drive the trend for local filmmaking. Moreover, KSA has increased its focus on promoting domestic filmmaking, through film festivals such as the red sea and Saudi Film Festival. Furthermore, the government has been taking a wide range of initiatives including offering support and training to local filmmakers, improving relevant infrastructure, developing a regulatory framework, and creating a national fund for filmmakers.

Saudi Arabia Movie THeater Market Segmentation
By Revenue Source (Ticket Sales, Food and Beverage, and Advertisements and Sponsorships):

Ticket sales constitute the 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 matured companies such as PVR and AMC, which have between ~% average revenue share of ticket admissions.

F&B revenues are still growing and are not at par with countries with full matured theater industry, where their share of revenue dominates movie theater revenue. On an 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 movie and traditional in terms of posters and banners as well.

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Figure: Saudi Arabia Movie Theater Market by Ticket Sales, F&B, and Advertisements in terms of Revenue in SAR Million, 2021

Saudi Arabia Cinema Market

Saudi Arabia Movie THeater Market Competition Scenario
The market is currently dominated by three major movie theater operators namely AMC, VOX, and MUVI Cinemas. With a single theater in operation in 2018, more than 59 theaters came into operation by then end of 2021.
Future Outlook for Saudi Arabia Movie Theater Industry 2021-2026F

The movie theater industry in Saudi Arabia is expected to grow at ~% CAGR from 2021 to 2026F. With licenses granted to more than ~ international movie theater operators as of 2021, 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. The high spending 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.

 Key Factors Considered in the Report

  • Saudi Arabia Theatre Market Introduction
  • Market Ecosystem
  • Value chain Analysis
  • Major Challenges in Saudi Arabia Theatre Market.
  • Detailed Analysis of Theatre Market in Saudi (Market Size, 2021; Market Segmentation; Market Shares; Competition Overview; Future Market Size, 2026F)
  • Customer Preference for Cinema Viewing Experience in Saudi Arabia
  • Investment Model to Setup Movie Theater in Saudi Arabia
  • Case Study on Successful Movie Theater Ventures
  • Overview of New Cinema Regulatory Regime

Related Reports

Global Movie Theaters Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread) Global Movie Theater Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)

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Contact Us:-

Ken Research                                                                                           

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249