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FinancialNews


  • 30-10-18

    KSA forecast to see USD1.5b cinema revenue by 2030

    (MENAFN) Saudi Arabia is forecast by global advisory company PwC to see a sharp boost in the overall of its cinema revenue by 2030 to hit USD1.5 billion.

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

    The top official noted "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."

    Berlin further added "as other revenue streams typically account for ~35 percent of overall revenues, this brings the total to $1.5 billion."

    The Kingdom's opening of 1,000 cinema screens within the region is expected to have no less than 2,300 in operation over the upcoming five years, PwC said.

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