Saudi Arabia Entertainment And Amusement Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.55 Billion |
| Market Size (2029) | USD 4.20 Billion |
| CAGR (2024 - 2029) | 10.44 % |
| Market Concentration | High |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Saudi Arabia Entertainment And Amusement Market Analysis
The Saudi Arabia Entertainment And Amusement Market size is estimated at USD 2.55 billion in 2024, and is expected to reach USD 4.20 billion by 2029, growing at a CAGR of 10.44% during the forecast period (2024-2029).
Due to the COVID-19 pandemic, all major sporting and entertainment events such as shows, concerts, and art exhibitions were disrupted. However, the Kingdom's ambitious expanding lineup of sporting and entertainment events including international events, elite events, regular national competitions as well as other numerous smaller and mass participation events has picked momentum and is expected to increase.
To promote and diversify entertainment opportunities in Saudi Arabia, a royal decree was issued in October 2016, which resulted in the creation of the General Entertainment Authority. The entertainment and amusement industry is one of the fast-developing ones in the country. Before the COVID-19 pandemic, several malls were jam-packed on Fridays with people going to the movie theatres. Several stakeholders are working in the entertainment sector in Saudi Arabia, including GEA, SCTH, the General Culture Authority, and the General Commission for Audiovisual Media (GCAM), tasked with licensing the newly reinstated cinema movies and PIF. GCAM - one of the governing authorities to regulate and operate cinemas, estimates that by 2030 there are going to be 350 cinemas and 2,500 movie screens in the country, as well as an industry worth around USD 1 billion. The kingdom is also aiming to see household spending double from making up 3% of GDP in 2018-19 to 6% in 2030 on entertainment.
The Development and Investment Entertainment Company (DIEC), a subsidiary company of GEA, was launched by PIF in January 2018, with an initial capital of USD 2.6 billion. The company is working with a US partner on a joint venture to operate cinemas in the Kingdom. DIEC expects to open 30-40 cinemas in approximately 15 cities in Saudi Arabia, over the next five years, and a total of 50-100 cinemas in approximately 25 Saudi Arabian cities, by 2030. In addition to AMC Theaters, GEA has signed contracts with Six Flags, National Geographic, Cirque Du Soleil, and IMG Artists, to operate entertainment venues throughout the Kingdom. Major French companies have expressed their desire to open headquarters in Saudi Arabia's capital Riyadh to maximize the benefit of those opportunities. This came during the hosting of the Federation of Saudi Chambers, represented by the Saudi-French Business Council on May 2022, for a delegation of French business owners and companies specialized in various fields of entertainment. The visit is in line with Saudi Vision 2030, which aims to increase the entertainment sector's contribution to 4.2 percent of GDP by 2030 and provide 450,000 job opportunities.
Saudi Arabia Entertainment And Amusement Market Trends
Cinema Revolution is Expected to Drive the Market Growth in the Forecast Period
- The Kingdom's decision to lift the 35-year ban on cinemas, in December 2017 has opened opportunities for international and regional companies to help develop the domestic entertainment industry. Also, the country has the largest population among GCC countries, with around 60% under the age of 34 years who are potential customers for the cinema market.
- The Public Investment Fund has taken the initiative to lead the local cinema industry by signing a joint venture deal between DIEC and the US cinema chain AMC Entertainment to open cinemas in the Kingdom, with the first movie theatre opened in Riyadh in 2018, and around 30 movie theatres are already opened in 15 cities around the Kingdom.
- The announcement of this joint venture was followed on April 2022 by the news that Vox Cinemas, a subsidiary of UAE-based entertainment company, Majid Al Futtaim, was awarded the second license to open cinemas in the Kingdom. The company also plans to invest more than 500 million in 600 screens over the next five years, which the officials estimate may bring the total number of cinemas in operation to as high as 350 and the number of screens to 2,500 by 2030.
Qiddiya Project is Anticipated to Attract More Customers and Help the Market's Growth
- As a part of Vision 2030, the Kingdom laid the foundation stone of the Al-Qiddiya project, the new entertainment, sports, and cultural destination in Saudi Arabia, west of Riyadh, with a total area of 334 square kilometers for six entertainment clusters, including a theme park, sports arenas, motor tracks, water and snow sports facilities, vacation homes, and venues to host cultural activities. Phase one is scheduled for completion in 2023.
- Upon completing this phase, 45 individual projects are to be completed. Moreover, 300 recreational, hospitality, leisure, and sports will be launched, and by 2030, the project is expected to generate some 57,000 jobs and contribute USD 4.53 billion to the GDP. According to PIF, the Qiddiya project aims to attract 17 million entertainment visitors, 12 million shopping visitors, and 2 million hospitality visitors by 2030.
Saudi Arabia Entertainment And Amusement Industry Overview
The market is highly competitive, with the presence of major international players. The market presents opportunities for growth during the forecast period, which is expected to further drive the competition. With few players holding a significant share, the market has observable level of consolidation.
Saudi Arabia Entertainment And Amusement Market Leaders
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AMC
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SIX FLAGS
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CIRQUE DU SOLEIL
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IMG ARTISTS
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BROADWAY ENTERTAINMENT
*Disclaimer: Major Players sorted in no particular order
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Saudi Arabia Entertainment And Amusement Market News
- May 2022: Saudi Arabia's leading theater operator Muvi Cinemas launched Muvi Studios. The new Studio will focus on developing both Saudi and Egyptian films for the Saudi public, concentrating on films for the big screen.
- September 2022: Flash Entertainment officially opened its KSA headquarters in Riyadh, committed to contributing to rapid growth across Saudi Arabia's entertainment industry and supporting the Kingdom's Saudization goals. The strategic opening of Flash's headquarters in Riyadh demonstrates the company's alignment with Saudi Vision 2030 goals to foster a diverse economy and establish the Kingdom as a world-class live entertainment and tourism destination.
Saudi Arabia Entertainment and Amusement Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints/Challenges
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitutes
4.4.5 Intensity of Competitive Rivalry
4.5 Insights on Current Trends and Technological Innovations in the Entertainment Sector
4.6 Impact of Government Regulations and Initiatives on the Entertainment Industry
4.7 Brief Analysis of Investment Opportunity
4.8 Insights into Other Economic Contributors to the Entertainment Sector
4.9 Insights into Major Entertainment Infrastructure Development Projects in Saudi Arabia
4.10 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type of Entertainment Destination
5.1.1 Cinemas and Theatres
5.1.2 Amusement and Theme Parks
5.1.3 Gardens and Zoos
5.1.4 Malls
5.1.5 Gaming Centers
5.1.6 Others
5.2 By Source of Revenue
5.2.1 Tickets
5.2.2 Food & Beverages
5.2.3 Merchandise
5.2.4 Advertising
5.2.5 Others
5.3 By City
5.3.1 Riyadh
5.3.2 Jeddah
5.3.3 Makkah
5.3.4 Dammam
5.3.5 Rest of Saudi Arabia
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 AMC
6.2.2 SIX FLAGS
6.2.3 National geographic
6.2.4 Cirque Du Soleil
6.2.5 IMG Artists
6.2.6 AVEX
6.2.7 THE MARVEL EXPERIENCES
6.2.8 Disney Frozen
6.2.9 Broadway Entertainment
6.2.10 Got Talent Global
6.2.11 FELD ENTERTAINMENT
6.2.12 AlShallal Theme Park
6.2.13 Jungle Land Theme Park
6.2.14 Loopagoon Water Park*
- *List Not Exhaustive
7. MARKET OPPERTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Saudi Arabia Entertainment And Amusement Industry Segmentation
The entertainment and amusement market encompasses various industries that provide recreational activities and experiences, including theme parks, cinemas, live performances, gaming, and more.
Saudi Arabia's entertainment and amusement market is segmented by type of entertainment Destination (cinemas and theatres, amusement and theme parks, gardens and zoos, malls, gaming centers, and other entertainment destinations), the source of revenue (tickets, food & beverages, merchandise, advertising, and other sources of revenues), and by city (Riyadh, Jeddah, Makkah, Dammam, and Rest of Saudi Arabia).
The report offers market size and forecast values for the Saudi Arabia Entertainment and Amusement Market in USD million for the above segments.
| By Type of Entertainment Destination | |
| Cinemas and Theatres | |
| Amusement and Theme Parks | |
| Gardens and Zoos | |
| Malls | |
| Gaming Centers | |
| Others |
| By Source of Revenue | |
| Tickets | |
| Food & Beverages | |
| Merchandise | |
| Advertising | |
| Others |
| By City | |
| Riyadh | |
| Jeddah | |
| Makkah | |
| Dammam | |
| Rest of Saudi Arabia |
Saudi Arabia Entertainment and Amusement Market Research FAQs
How big is the Saudi Arabia Entertainment And Amusement Market?
The Saudi Arabia Entertainment And Amusement Market size is expected to reach USD 2.55 billion in 2024 and grow at a CAGR of 10.44% to reach USD 4.20 billion by 2029.
What is the current Saudi Arabia Entertainment And Amusement Market size?
In 2024, the Saudi Arabia Entertainment And Amusement Market size is expected to reach USD 2.55 billion.
Who are the key players in Saudi Arabia Entertainment And Amusement Market?
AMC, SIX FLAGS, CIRQUE DU SOLEIL, IMG ARTISTS and BROADWAY ENTERTAINMENT are the major companies operating in the Saudi Arabia Entertainment And Amusement Market.
What years does this Saudi Arabia Entertainment And Amusement Market cover, and what was the market size in 2023?
In 2023, the Saudi Arabia Entertainment And Amusement Market size was estimated at USD 2.31 billion. The report covers the Saudi Arabia Entertainment And Amusement Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Saudi Arabia Entertainment And Amusement Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the future trends expected to shape the Saudi Arabia Entertainment and Amusement Market?
The future trends expected to shape the Saudi Arabia Entertainment and Amusement Market are a) Personalized experiences and integration of AI and IoT technologies b) Expansion of digital content platforms and themed entertainment developments c) Collaborations with global entertainment brands to enhance offerings
Entertainment in Saudi Arabia Industry Report
The Saudi Arabia Entertainment and Amusement Market is experiencing significant growth, driven by technological advancements such as virtual reality and augmented reality, enhancing consumer experiences across various entertainment platforms. This dynamic market is segmented into cinemas and theatres, amusement and theme parks, gardens and zoos, malls, and gaming centers, with revenue streams from tickets, food and beverages, merchandise, and advertising. Detailed regional analyses cover the Northern and Central, Western, Eastern, and Southern regions of Saudi Arabia. Factors like increasing disposable income and the rising popularity of smartphones and the internet are propelling market growth, making entertainment more accessible and varied.
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