Entertainment Sector in Saudi ArabiaBuilding the $23 billion industry

The Saudi Entertainment Industry Is Stronger Than Ever

With an estimated worth of $2.31 billion in 2023, the Saudi entertainment industry is booming. Thanks to its youthful demographic, funds for large strategic investments, and a vision to diversify its economy, Saudi Arabia's entertainment sector is set to become a global sensation. In the upcoming five years, the market is projected to soar to $3.80 billion, growing at a CAGR of 10.44% in the 2023-2028 period.
The Development and Investment Entertainment Company (DIEC) is one of the key players driving this unprecedented growth. With an initial capital of $2.6 billion, the company aims to open 30-40 cinemas in about 15 cities over the next five years. By 2030, this number is expected to reach 50-100 cinemas across 25 cities. Collaborations with global giants like AMC Theaters, Six Flags, and Cirque Du Soleil further underscore the ambitions for the entertainment sector in Saudi Arabia and is a signal to growth-driven corporations that the time to expand is here and now.

The Kingdom's commitment to the sector is evident through the major entertainment giga projects in Saudi Arabia, countless initiatives, such as the establishment of several public funds, including the General Entertainment Authority (GEA), SCTH, General Culture Authority, and the General Commission for Audiovisual Media (GCAM).
In the forthcoming years, the entertainment sector has set ambitious targets: the establishment of numerous entertainment venues and attractions, a significant boost in the GDP contribution from entertainment enterprises, and numerous new job opportunities for its citizens. The Kingdom’s goal for the entertainment sector is to contribute 4.2% to the country’s GDP and create 450,000 job opportunities by 2030.

Sources:KenResearch, SEA Expo, and Mordor Intelligence

Future Outlook

To meet its goals under Vision 2030 and drive further growth in the entertainment sector, Saudi Arabia turned its attention to innovators and entrepreneurs, both local and international, who can help the country set up entertainment ventures within its borders.

Vision 2030 envisions the creation of iconic entertainment hubs like Qiddiya, Diriyah, and SEVEN that will enrich the cultural and entertainment experience of local audiences while drawing attention from the rest of the world. This innovative blueprint also highlights the importance of supporting artists, performers, and creators who can represent Saudi on the global scene and reflect the sweeping changes occurring across the country's sectors.