As part of an initiative that is said to be part of modernising the country by Prince Mohammed bin Salman, the authorities in the country have decided to allow the showing of cinema films from March 2018. The FT reports that the government is expecting to see 300 cinemas being built, with 2,000 screens by 2020, although the paper reports that some companies had built shells ready for the initiatve. 30,000 people are expected to be employed in the industry and licensing is said to be ‘on the way’.
Chains in other parts of the region, such as Dubai, are looking at exploiting the opportunity for expansion.
Some clerics, such as the Grand Mufti Abdulaziz Al Sheikh, have raised objections to the development.
Analyst Comment
This is a good opportunity for digital projection suppliers and one imagines that Samsung will want to get an LED cinema in the region pretty quickly. One wonders how many Hollywood films will meet the needs of censors in the kingdom! (BR)
