New research says Saudi Arabia is expected to host 2,600 cinema screens to entertain its growing population.
Total cinema revenue in Saudi Arabia is expected to reach $1.5 billion by 2030, according to new research by PwC Middle East. The forecast is based on a projected 2030 population of 39.5 million, and 6.6 screens per 100,000 people.
“By 2030, Saudi Arabia is expected to host 2,600 cinema screens that will entertain its growing population,” said Dr Martin Berlin, Middle East partner and global deals real estate leader at PwC Middle East, at the MENA Cinema Forum. Based on global and regional benchmarks, PwC said it expects Saudi Arabia to accommodate between 300 and 370 cinema locations.
“Based on pricing of $11–$14 for lower end formats, and $40 for luxury formats, Saudi Arabia could generate $950 million in box office revenues by 2030. As other revenue streams typically account for 35 percent of overall revenues, this brings the total to $1.5 billion,” he added.
