Crown Prince Mohammed bin Salman is leading a liberalization movement in the Kingdom of Saudi Arabia. One of its latest moves is lifting the ban on the movie theaters that lasted over 35 years. The first movie to be screened for Saudis in movie theaters is “The Emoji Movie”. According to Arab News, International cinema tycoons like Odeon and VOX are showing interest in the Saudi movie theater’s market.
The cinema industry will boost dramatically the Saudi economy. As the government estimates the contribution of the cinema business to be $24 billion to the economy by 2030, creating an estimated 30,000 permanent jobs and roughly 130,000 temporary jobs. New York Post adds that the authorities plan to open 300 cinemas with 2,000 screens by 2030.
Minister of Culture and Information, Awwad bin Saleh Alawwad, stated that “Opening cinemas will act as a catalyst for economic growth and diversification. By developing the broader cultural sector, we will create new employment and training opportunities, as well as enrich the Kingdom’s entertainment options.”
Alain Bejjani, Chief Executive of VOX’s parent company Majid Al Futtaim, said “We are committed to developing VOX Cinemas in Saudi Arabia and to make sure that every one of our Saudi customers will have a VOX Cinema close to them where they will be able to experience what they have been experiencing outside Saudi Arabia – in Saudi Arabia.”
In a similar manner, AMC’s Chief Executive, Adam Aron said “This announcement is a historic moment for the theatrical exhibition industry and a tremendous opportunity to connect AMC’s movie products with the Kingdom of Saudi Arabia’s more than 30 million citizens, many of whom we know are movie fans based on their regular visits to cinemas in neighboring countries.”