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Why everyone s going to the movies in Saudi Arabia
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UAE s Emaar Entertainment in $270m plan to expand cinema brand in KSA
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RIYADH: Saudi Arabia’s first home-grown cinema chain announced on Sunday a SR820 million ($218.6 million) expansion plan for 2021.
MUVI Cinemas intends to grow to 307 screens nationwide over the next 12 months, launching 23 new sites in eight key Saudi regions, adding 204 screens and 22,872 seats to its portfolio. The planned expansion will bring the brand’s total number of seats to over 35,000.
The expansion will initially see nine new sites in Riyadh, seven in Jeddah, and two each in Taif, Alkhobar, Khamis Mushait and Al-Kharj. The cities of Buraidah and Uniazah will soon welcome their first-ever MUVI locations.
CEO Sultan Alhokair said the company’s plan for 2021 “far exceeds” its original goals for the year.
Saudi Arabia s Muvi Cinemas Forges Partnership With Studio Telfaz11
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Saudi Arabian exhibition chain Muvi Cinemas has forged a strategic partnership with local digital media studio Telfaz11, under which they will take an undisclosed stake in the expanding Saudi outfit that recently inked an eight-picture deal with Netflix.
The partnership will see Muvi and Telfaz11 join forces to produce Arabic feature films for theatrical release, as well as other types of collaborations.
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Founded by Alaa Yousef Fadan, Ali Al Kalthami, and Ibrahim Al Khairallah, Telfaz11 is an innovative content company that started out in the YouTube space where it has scored billions of views with side-splitting socially engaged videos including their groundbreaking “No Woman, No Drive” video in 2013, which helped create momentum to change laws that previously forbade women from driving motor vehicles in the country.
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