Press release
Future Growth Driven by Rising Infrastructure for Movie Theatre, Establishment of amusement and theme parks across all major regions in KSA: Ken Research
o The percentage of household expenditure spent on leisure and entertainment is expected to rise from 2.9% in 2019 to 6% by 2025, which is forecasted to drive the establishment of entertainment destinations.
o Saudi Arabia is divided into 3 large cities, 3 medium cities, and 7 small cities. Amusement Parks and Family Entertainment Centres are expected to be established in these cities in corresponding sizes bringing the total FECs to nearly 66 by 2030.
o 7 movie theatre chains have received operating licenses as of January 2020, while only three chains are operations as of December 2019. The number of movie theatres operational by the end of 2025 is expected to cross 60.
Growth in Retail Real Estate Industry: Retail real estate includes the development of regional and super-regional malls, community centers and entertainment destinations among others. The growth in the supply of retail real estate is expected to grow by 9.8% CAGR and the occupancy rate is expected to average 92% for the period 2019-2025. With 100% FDI allowed in retail real estate since 2016, foreign entities can find favorable investment terms additionally for entertainment-related destinations such as movie theaters, gaming centers, FECs and mini amusement parks among others.
A growing need for Partnerships within the Movie Theater Ecosystem: Movie theater industries are expected to hedge their entry into the Saudi Arabian movie theater market with some sort of partnerships within the movie ecosystem including advertising rights sellers, movie distribution companies, and business groups with existing licenses in Saudi Arabia and screen format providers. Such partnerships are expected to drive entry into the movie theater industry. For instance, Indian theater chain PVR and UAE Majid Al Futtaim have signed an MoU for entry into Saudi Arabia and other regional markets.
The report titled "Saudi Arabia Leisure and Entertainment Market Outlook to 2025 - Movie Theater Market by Revenue (Ticket Admissions, Food, and Beverage Sales, Advertisements and Sponsorships), Amusement Park Industry (Ticket Admissions, Food, and Beverage, Merchandise, Games, and Others(Parking, Sponsorships, and Royalty)) and Alternate Entertainment Avenues (VR Gaming, Bowling Alley and Trampoline Parks)" by Ken Research suggests that household expenditure on leisure and entertainment is expected to drive the market in terms of revenue for the forecast period 2019-2025. The Saudi government's Vision 2030 is expected to favor investors looking to establish entertainment destinations in terms of ownership, return on equity, payback period and funding assistance among others. The movie theater and amusement park markets are expected to grow at a CAGR of 15% and ~6% respectively for the forecast period 2019-2025.
For More Information on the research report, refer to below link: -
https://www.kenresearch.com/media-and-entertainment/films-and-animation/saudi-arabia-leisure-and-entertainment-market-outlook/335266-94.html
Key Segments Covered: -
Movie Theater Market
Ticket Admissions
Food and Beverages
Advertisements and Sponsorships
Amusement Park Market
Ticket Admissions
Food and Beverages
Merchandise
Games
Others (Parking, Royalty, and Sponsorships)
Alternate Entertainment Investment
VR Gaming Center
Bowling Alley
Trampoline Parks
Key Target Audience
Movie Theater Companies
Film Distribution Companies
Screen Format Companies (IMAX, 4D, 4DX)
Government Entities
Amusement Park Operators and Chains
Real Estate Developers
Mall Operators and Groups
Time Period Captured in the Report:
Historical Period - 2014-2019
Forecast Period - 2019-2025
Companies Covered in Report:
AMC Theaters
VOX Cinemas
MUVI Cinemas
Al Hokair Group
Al Shallal Theme Park
Off the Grind
Emirates Bowling Alley
BOUNCE Trampoline Park, Jeddah
Key Topics Covered in the Report: -
Movie Theater Market Current Scenario and Future Outlook
Investment Analysis for Setting up Movie Theater
Customer Preference Survey for Movie Theaters
Investment and Regulatory Scenario in Movie Theater Industry
Case Study Analysis of Successful Movie Theaters in Middle East
Amusement Park Market Current Scenario and Future Outlook
Investment Analysis for Setting up Amusement Park
Customer Preference Survey for Amusement Parks
Investment and Regulatory Scenario in the Amusement Park Industry
Case Study Analysis of Successful Amusement Parks in Saudi Arabia
Alternate Entertainment Avenues for Investment in Saudi Arabia
Investment Analysis of Alternate Entertainment Avenues
Customer Preference Survey for Alternate Entertainment
Related Reports by Ken Research: -
https://www.kenresearch.com/media-and-entertainment/gaming-and-gambling/global-vr-gaming-market/144735-94.html
https://www.kenresearch.com/media-and-entertainment/gaming-and-gambling/middle-east-theme-park-market/111402-94.html
https://www.kenresearch.com/media-and-entertainment/gaming-and-gambling/qatar-theme-park-market/110382-94.html
Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a Global aggregator and publisher of Market intelligence, equity, and economy reports. We provide business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies.
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