Resurgent Box Offices Eye Gulf States’ Market and Money

The largest cinema chain in the world knew a great deal when it saw one. In 2018, AMC Cinemas premiered the Marvel movie, Black Panther to crowds of men and women lined up around the block, and blocking traffic, for a cinema ticket. This was entirely expected by many film-goers around the world. Black Panther was a breakout Hollywood blockbuster, after all. But in the capital city of Riyadh, this was something entirely new. It...

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1 Comment

RittaV says:
July 17, 2023 at 6:17 am
I have sat in very comfortable cinemas in the US. The luxury end of the spectrum is very nice, but very expensive. $50 a ticket is out of reach for most Americans, who are more than happy to go the movies now as they are.
But, cinema chains are in trouble, and that is when investors can swoop in. I do see that happening. It might be Disney or Netflix rather than Saudi Aramco.
What I would find interesting is if a big investor from Saudi or Dubai or Qatar came and bought out one of the prestige theatres in LA. Just one property, but something that makes a statement. That would be a message that they are involved now. Until then, I think they are just investors and Media is just a good play at the moment.
Having said that, Saudi sure is making an effort to be a player. Every year their presence at Cannes is bigger and bigger.
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