The board is chaired by Saudi businessman Majid Al-Ibrahim, who also sits on the board of MBC Group.
Former Lionsgate executive Erik Feig has announced his new independent entertainment venture, Arena SNK Studios, a Saudi-backed production banner that will expand his creative reach across film, television, gaming and live experiences. Feig will lead the company as Chief Executive Officer, steering an agenda that blends Hollywood storytelling with global fandom culture.
Arena SNK Studios, closely linked to Saudi Crown Prince Mohammed bin Salman, is set to develop major entertainment franchises inspired by video games, anime and other fan-driven communities. The company’s portfolio will also extend beyond screens, creating immersive, experiential events in key markets around the world.
At the heart of the new venture is a powerhouse board chaired by Saudi businessman Majid Al-Ibrahim, who also serves on the board of MBC Group. Joining Al-Ibrahim and Feig are Sean Bailey, former President of Walt Disney Studios Motion Picture Production; Andrew Chen, General Partner at Andreessen Horowitz and a prominent AI investor; and Charlie Wen, Chief Creative Officer at Epic Games.
Arena SNK Studios has reportedly secured around $1bn in financing, led by investors in Saudi Arabia. The funding structure includes an initial tranche already received, with additional funds to follow upon achieving specific milestones. Key backers include MBC Group, the region’s media conglomerate, and SNK, the Japanese video game company now owned by the MiSK Foundation, established under the leadership of Saudi Crown Prince Mohammed bin Salman.
The launch of Arena SNK comes as Saudi Arabia continues to expand its global media footprint, investing billions in Hollywood and international sports as part of a strategy to diversify its economy beyond oil.
In addition to producing high-profile films and television series across live-action and animation, the company aims to collaborate with major studios and streaming platforms for global distribution.
Feig, who co-founded Picturestart in 2019 to develop and produce film and TV projects, will continue to serve as Executive Chairman of that company while leading Arena SNK Studios into its next phase of growth and innovation.
