The cinema industry in the Middle East and Africa is experiencing a challenging situation due to the third wave of the pandemic and heightened consumer preferences towards Over-The-Top (OTT) services such as Netflix, Amazon and OSN. However, the industry witnessed a mild rebound in H2 2020 when the cinema halls reopened with government safety guidelines.
According to PwC, cinema box office revenues in the MENA region are expected to grow by 4%Compound Annual Growth Rate (CAGR) to US$1bn between 2019 and 2024, compared to a 2.4% decline worldwide. This is mainly due to KSA lifting its cinema ban in 2018, which has created a sizable new market. The market is expected to recover in 2022 and generate revenues worth US$0.6bn in 2021 and US$0.9bn in 2022, respectively.
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