Cannes Market Dailies

Saudi Arabia is stepping onto the stage as the next major distribution ground for the film industry. With a high percentage of youth amongst its population of 33 million, film distributers are considering Saudi Arabia a prominent market for film distribution. It is not surprising, considering that the developed Saudi film market is projected to gain a net worth of $1 billion within a decade. But how can the Saudi film industry achieve its forecasted potential? At a panel held on Thursday afternoon at the Saudi Film Council pavilion, representatives from companies such as Vox cinema discussed their strategies for the country. Some companies have gone forward and put forth $5 billion towards developing areas of leisure, e.g. shopping malls and theaters. By the year 2020, Cameron Mitchells (Vox Cinemas) believes that between 300 to 500 cinemas will be established in the Saudi Kingdom (which as of today holds only 5 theaters in total). With such a drastic expansion, will there be enough content to meet the demand? This is the concern of groups like NBC, who are looking to expand their storytelling skillset. The uphill struggle is to create local Saudi content that attracts local consumers. And with hardly any examples to work off of, this may prove to be the real challenge for interested parties. But, the Saudi Film council is looking ahead. Using virtual reality, visitors to the Saudi Film Council pavilion can visit the historic city of Jetta. With the efforts of the Saudi Film council and the current progress of development occurring in the country, Saudi Arabia is looking at a future lit by studio lights.  

Written by: Anna Mancino