The partnership will harness the combined strengths of Alamiya's vast resources and Lyra Pictures' innovative film development strategies.
Alamiya, a Saudi-based live production and entertainment company has announced its latest milestone with the acquisition of Lyra Pictures. The collaboration aims to deliver unprecedented cinematic experiences to audiences, blending world-class production facilities with a fresh and forward-thinking approach to content creation. The move will further see the rise of an innovative film studio in the heart of the Kingdom, supporting the attraction of local talent and IP, while also facilitating opportunities for international productions in Saudi Arabia. The partnership also highlights the nation’s rapidly growing entertainment landscape, and assuring local cinema-goers that the future of entertainment in the region is exceptionally promising.
Founded in the 1970’s, Alamiya was the Kingdom’s first cinema and television studio established to meet development requirements caused by the oil boom at the time. Following a cinema ban, the company later changed business direction. The strategic acquisition indicates Alamiya’s intent to reestablish its presence in the film sector.
Sultan Al Muheisen, Chairman and CEO of Alamiya, commented: “This acquisition goes beyond business. It is about setting a precedent in the regional and local film industry. With Lyra Pictures under our wing, we combine traditional and modern film approaches to create something unique”.
Lyra Pictures, co-founded by seasoned media entertainment executive, Wesam Kattan, and Bassma El-Afghani, an experienced strategy and analytics management consultant, has been on a mission to raise the bar in regional storytelling. Combining global best practices with intricate regional nuances, and fusing creativity with data-driven audience insights, the young company has been recognised as an early industry disruptor.
Wesam Kattan, Co-founder of Lyra Pictures, said: “Alamiya’s scale and reach, paired with our story-first approach, will create a synergy that promises to introduce innovative strategies to storytelling in the Middle East. We’re excited about what the future holds”.