Following Saudi Arabia’s decision to open up to the cinema industry this year, after a 35-year ban, it is expected that around US$3.54bn will be invested in the market across the Gulf region.
Cinema advertising spend in the MENA reached $84m in 2017, says Zenith Media.
One of the investors, Novo Cinemas, said the market is "doing very well." The company’s CEO Debbie Stanford-Kristiansen, reported that the GCC cinema industry was resilient and provided affordable family entertainment, even in an economic downturn. “But it comes down to content; if the content is great then people will come.”
Novo has over 100 screens in 11 cities in the UAE and in Bahrain and has been working to enhance the movie-going experience to match the demands of the customers.
Stanford-Kristiansen was named Female CEO of the Year in the CEO Middle East Awards in September.
