Cinema revenue in Saudi Arabia to hit $1.5 bln by 2030: report

Total cinema revenue in Saudi Arabia is expected to reach $1.5 billion by 2030, according to research by global advisory firm PwC.

“By 2030, Saudi Arabia is expected to host 2,600 cinema screens that will entertain its growing population,” Dr. Martin Berlin, Middle East Partner and Global Deals Real Estate Leader at PwC Middle East, said.

“Based on pricing of $11 – $14 for lower end formats, and $40 for luxury formats, the Kingdom 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 further added.

The report stated that the recent announcement of 1,000 cinema screens in the region will see more than 2,300 in operation in the next five years, with the majority of the new screens to open in Saudi Arabia.