RIYADH, Saudi Arabia: The Federation of Saudi Chambers, through its National Entertainment Committee, has unveiled plans for an innovative digital platform aimed at enhancing the entertainment sector. This platform will serve as a centralized hub for private companies, facilitating collaboration and service provision for entertainment events. The initiative is designed to connect these businesses, enabling them to access investment opportunities and foster a vibrant community within the industry.
Alwaleed Al-Baltan, chairman of the National Entertainment Committee, emphasized that this platform represents a groundbreaking effort among national committees under the federation. He noted that the establishment of the platform aligns with the rapid advancements in Saudi Arabia’s entertainment sector, as outlined in Vision 2030. This initiative also reflects the increasing investment flow and the rise in visitor numbers to the Kingdom.
The entertainment market in Saudi Arabia is currently valued at approximately SR8.7 billion, with projections indicating growth to SR14.4 billion by 2028. This translates to an impressive annual growth rate of 10.4%, highlighting the sector’s significant potential and the importance of strategic initiatives like the new digital platform.