The inaugural event to be held in Dubai is slated to host around 45 speakers, 450 delegates and 60 sponsors from 30 counties.
The first-ever MENA Cinema Forum will be held at the Grand Hyatt hotel in Dubai. The inaugural event is slated to host around 45 speakers and experts, 450 delegates and 60 sponsors from 30 countries. The two-day MENA Cinema Forum the first-ever business conference will discuss cinema-related issues including the transition through digital disruption and the economic impact of the growing cinema industry as well as the effect of the Saudi Cinema market across the region.
An estimated $3.54bn investment in cinema screens across the Gulf is expected to help the regions cinema industry expand following Saudi Arabias decision to open up the sector 35 years after cinemas were banned in the Kingdom.
The Development and Investment Entertainment Company (DIEC), a wholly owned subsidiary of Saudi Arabias Public Investment Fund (PIF), aims to invest up to $2.7 bn in entertainment projects across Saudi Arabia by 2030.
Dubai-based developer Majid Al Futtaim, owner of VOX Cinemas, stated it will invest $540m in 600 screens across Saudi Arabia, after making an announcement of investing $300m in other GCC markets.
Commenting on the industry, Leila Masinaei, Managing Director of GM Events, organiser of the MENA Cinema Forum, said: The cinema industry in the Middle East is entering an exciting phase with the opening up of the Saudi market after 35 years and MENA Cinema Forum will bring the developments under a series of focussed discussions in two days. The Saudi government anticipates 300 cinemas will open by 2030, contributing $24bn to the economy and creating 30,000 jobs.”
Valued at $26.4bn in 2016, the Middle East Cinema markets forecasted growth at 7.4% amounting to over $35bn according to PriceWaterhouseCooper (PwC) presents an business opportunity for global brands keen to penetrate a lucrative market, the release stated.
The MENA Cinema Forum will screen premiers for VIPs and delegates at exclusive screenings during the two-day conference that will also feature some of the biggest names in the global film industry.
The whole event will become a festive place with lots of networking events and cinema screenings while we anticipate a number of celebrity appearances to complement the business conference on the cinema industry, Leila Masinaei added.
