Saudi Arabia Entertainment And Amusement Market Size (2024 - 2029)

The entertainment and amusement industry in Saudi Arabia is experiencing significant growth, with its market size expanding rapidly due to strategic initiatives and investments. The establishment of the General Entertainment Authority and the Development and Investment Entertainment Company has catalyzed the sector's development, aiming to diversify and enhance entertainment offerings across the Kingdom. Despite disruptions from the COVID-19 pandemic, the industry is rebounding with a robust pipeline of events and venues, including a substantial increase in cinema operations. This growth is aligned with Saudi Vision 2030, which seeks to elevate the sector's economic contribution and create numerous job opportunities.

Market Size of Saudi Arabia Entertainment And Amusement Industry

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Market Summary
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

Saudi Arabia Entertainment And Amusement Market Major Players

*Disclaimer: Major Players sorted in no particular order

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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 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
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Saudi Arabia Entertainment And Amusement Market Size Summary

The entertainment and amusement industry in Saudi Arabia is experiencing rapid growth, driven by strategic initiatives and investments aimed at diversifying the economy and enhancing the country's cultural landscape. The establishment of the General Entertainment Authority and the lifting of the cinema ban have been pivotal in revitalizing the sector. The Kingdom's Vision 2030 plan underscores the importance of the entertainment industry, with significant projects like Al-Qiddiya set to transform the region into a major cultural and recreational hub. This ambitious project, along with partnerships with international entertainment giants, is expected to significantly boost the sector's contribution to the national GDP and create numerous job opportunities.

The market is characterized by a competitive landscape with both local and international players vying for a share. The Public Investment Fund's involvement, through ventures like the Development and Investment Entertainment Company, highlights the government's commitment to fostering a robust entertainment industry. The collaboration with global entities such as AMC, Six Flags, and Cirque Du Soleil, along with the expansion of cinema operations, reflects a strategic approach to attract both domestic and international audiences. As the industry continues to expand, it is poised to play a crucial role in achieving the Kingdom's economic diversification goals, with a focus on increasing household spending on entertainment and enhancing the overall quality of life for its citizens.

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Saudi Arabia Entertainment And Amusement Market Size - Table of Contents

  1. 1. MARKET INSIGHTS AND DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints/Challenges

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitutes

      5. 1.4.5 Intensity of Competitive Rivalry

    5. 1.5 Insights on Current Trends and Technological Innovations in the Entertainment Sector

    6. 1.6 Impact of Government Regulations and Initiatives on the Entertainment Industry

    7. 1.7 Brief Analysis of Investment Opportunity

    8. 1.8 Insights into Other Economic Contributors to the Entertainment Sector

    9. 1.9 Insights into Major Entertainment Infrastructure Development Projects in Saudi Arabia

    10. 1.10 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type of Entertainment Destination

      1. 2.1.1 Cinemas and Theatres

      2. 2.1.2 Amusement and Theme Parks

      3. 2.1.3 Gardens and Zoos

      4. 2.1.4 Malls

      5. 2.1.5 Gaming Centers

      6. 2.1.6 Others

    2. 2.2 By Source of Revenue

      1. 2.2.1 Tickets

      2. 2.2.2 Food & Beverages

      3. 2.2.3 Merchandise

      4. 2.2.4 Advertising

      5. 2.2.5 Others

    3. 2.3 By City

      1. 2.3.1 Riyadh

      2. 2.3.2 Jeddah

      3. 2.3.3 Makkah

      4. 2.3.4 Dammam

      5. 2.3.5 Rest of Saudi Arabia

Saudi Arabia Entertainment And Amusement Market Size FAQs

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.

In 2024, the Saudi Arabia Entertainment And Amusement Market size is expected to reach USD 2.55 billion.

Entertainment and Amusement Industry in Saudi Arabia Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)