What's Happening?
A report from the Cairo Film Connection highlights Saudi Arabia's growing role as a principal export market for Egyptian films. The report, released during Cairo Industry Days, reveals that Saudi Arabia's exhibition
sector has become a major source of box office revenue for Egyptian films, surpassing local earnings. Between 2021 and 2024, nine out of Egypt's top ten film exports generated significant revenue in Saudi Arabia. The report also notes that Egyptian films accounted for 27% of the top 65 films at the all-time Saudi box office. The success of films like 'Bahebek' and 'Sons of Rizk 3: Knockout' in international markets underscores the trend. In 2024, Egyptian films ranked third in Saudi market share, following U.S. and Indian titles, with 33 Egyptian films released in Saudi Arabia generating over $53 million.
Why It's Important?
The shift in export dynamics is significant for the Egyptian film industry, which has historically been the largest in the Arab world. The increased foreign revenue, particularly from Saudi Arabia, provides a financial cushion against domestic market challenges, including currency depreciation and inflation. This trend also highlights the growing cultural exchange between Egypt and Saudi Arabia, potentially influencing film content and production strategies. The preferential tax treatment for Egyptian-Saudi co-productions further incentivizes collaboration, potentially leading to more joint ventures and shared cultural narratives. The success of Egyptian films abroad could encourage local filmmakers to explore diverse genres and storytelling techniques, broadening the industry's appeal.
