The Saudi Arabian Movie Theatre Market taking off: Ken Research

Story Outline

 The Saudi Arabian Leisure and Entertainment Market is expected to grow at a CAGR of ~15% from 2022 to 2027.

MUVI Cinemas is the top player in the Saudi Arabian Theatre Market based on Revenue as well as number of theatres and screens.
MUVI Studios was launched in 2022 with a plan to churn out an average of some 20 feature films per year
VOX Cinemas comes in at number two amongst the movie theatre market in KSA with 155 screens spanning across six cities.
VOX Cinemas gives a lot of importance to customer experience thus the elaborate food menu, dedicated children's playrooms, stunning rooftop views, and others.

Introduction

The Saudi Arabian Theatre industry has witnessed significant growth and modernization in recent years, growing at a CAGR of ~70% from 2019 to 2022. With the lifting of cinema bans and changing government policies, both local and international cinema chains have established a strong presence in the country. State-of-the-art technology, immersive experiences, and diverse food offerings have contributed to the industry's success. Additionally, the emergence of home-grown cinema chains and successful film productions have further bolstered the Kingdom's position as a prominent player in the Kingdom's entertainment landscape.

1.MUVI Cinemas is the largest cinema of KSA and is home-grown. It has 21 theatres with a total of 205 screens spanning across nine cities in the country.

MUVI Cinemas offers state-of-the-art technology. It offers diverse and immersive experiences combined with delicious food menu which adds to the revenue streams of the theatre.

MUVI Cinemas opened the country's largest movie theatre in January this year, with 25 screens in Riyadh Boulevard City.

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According to Ken Research, the Saudi Arabian Leisure and Entertainment market is expected to grow at a CAGR of ~15% from 2022 to 2027. The largest contributor to this has been the OTT industry followed by the movie theatre industry.

2.Muvi Studios is breaking records at the Saudi box office, with more than 1 million tickets sold for its two latest productions.

In the first three months since its release, underground wrestling comedy "Sattar" has sold 897,000 tickets, making it the highest-grossing Saudi movie ever for such an opening period and fourth on the list of all international and regional productions.

The studio's second film, "Two for Rent," managed to clock up 235,000 ticket sales in the same period.

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3.Vox Cinemas, owned by UAE-based shopping mall, retail and leisure firm Majid Al Futtaim Group, which operates 155 screens in six cities in Saudi come in at second place.

It uses the most advanced technology for sound and picture with forming strong and exclusive partnerships.

Its USP is that it has large cinemas. It also has dedicated children's playrooms, and stunning rooftop views which give it a competitive advantage over its competitors.

Moreover, it celebrates and festivals by offering discounts and offers to customers.

4.VOX Cinemas offers a wholesome experience by offering an extensive food and snack menu at its theatres considering the largest chunk of the customer base comes from the age group between 18 and 40 years.

Its dedicated Candy Bar offers guests a wide variety of signature snacks such as VOX Popcorn in seven unique flavors, burgers, hotdogs, pizzas, and nachos. Exclusively in the UAE, Candy Bar is also serving an Iftar Combo which includes a Kofte Slider, Falafel Slider, Shish Tawook Slider, Dates, Jallab Drink, Tabouleh, Hot Mezzeh, and Lazy Cake - all for just AED 55. The delicious combo is available in-cinemas and online for home delivery.

The dedicated cinema arm of Majid Al Futtaim continues to take initiatives to give the consumer the best experience. For its luxury cinema concept GOLD, they collaborated with celebrity Saudi Chef Mona Mosly who curated 20 signature dishes to elevate the in-cinema dining experience with a specially curated menu.

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Conclusion

The cinema industry in Saudi Arabia is witnessing remarkable growth, with MUVI Cinemas leading as the largest home-grown chain. Its state-of-the-art technology, immersive experiences, and delectable food offerings contribute to its success. Meanwhile, Muvi Studios is making waves with record-breaking ticket sales for its latest productions. Vox Cinemas, owned by Majid Al Futtaim Group, comes in second place, boasting advanced technology, large cinemas, and unique customer experiences. Their dedication to offering an extensive food menu and special collaborations, like the one with celebrity Chef Mona Mosly, demonstrates their commitment to providing the best cinema experience for customers in the region.

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Our Solutions are driven by qualitative and quantitative evaluation of markets across diverse Sectors and Geographies. We assist clients in their objectives related to market entry, product pricing, Product-fit evaluation, competition benchmarking, forecasting business planning and financial planning.

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