Saudi Arabia to invest $35 billion in cinemas by 2020
The Saudi General Commission for Audiovisual Media (GCAM) announced that it aims to open 2,500 screens over the next five years, with 300 cinemas by 2030.
The Saudi government is investing $35 billion in culture and leisure by 2020, with 16 entertainment complexes, an aquatic centre and three entertainment hubs planned as part of the expansion.
GCAM is responsible for the issuing of licenses for cinemas in Saudi Arabia and regulation of the audio visual industry in the region, with the first cinemas opening in the country for the first time in 30 years after a controversial cinema ban was lifted in 2017 as part of a modernisation effort by Crown Prince Mohammed bin Salman.
GCAM’s CEO Bader Alzahrani said “The cinema sector in Saudi Arabia will see significant growth, especially with GCAM’s continuous efforts to facilitate and promote national and foreign investment to enter the sector. At the same time, GCAM is working toward achieving Quality of Life Program’s goal by opening 45 cinemas by 2020, with emphasis on providing various different entertainment opportunities for everyone, which will enhance and contribute to diversifying the economy.”
GCAM announced that more plans will be unveiled at the Cinema Build KSA Forum on 14 April and 15 April 2019 in Riyadh, Saudi Arabia.