Film Sector Financing Program

The Film Sector Financing Program is a program launched by the Cultural Development Fund of the Kingdom of Saudi Arabia in 2022. It is one of the initiatives of the IGNITE digital content program, aimed at stimulating the film sector by providing financing packages dedicated to the development, production, and distribution of feature films and series. It also aims to empower contributors in the field of films and infrastructure.

The program's allocations amount to SAR879 million, and the financing packages include producers, distributors, and all private sector enterprises working in the field of the film industry. Seventy percent of the budget is allocated to developing, producing, and distributing content, while the remaining 30 percent is allocated to developing the sector's infrastructure.

The Cultural Development Fund aims, through its Film Sector Financing Program, to contribute to supporting an active and sustainable film industry sector. This is achieved through financing packages for the development, production, and distribution of films and series, in addition to providing infrastructure for these arts. It also aims to open new horizons for Quality of Life sectors that directly affect citizens, meet the aspirations of national talents in the film industry, and diversify entertainment opportunities.

The importance of the Film Sector Financing Program lies in its contribution to developing films in the developing cultural sector and participating in enabling the national cultural strategy within Saudi Vision 2030, by developing appropriate financing channels in cooperation with various financial entities. The aim is to elevate the quality of local drama and films, streamline their production processes, bolster the attraction of both local and foreign investments, and strive towards increasing the proportion of local content within the cultural sector framework.

On March 17, 2023, the Film Sector Financing Program announced the activation of two financing vehicles: "Lending" and "Investment." The "Lending" vehicle was launched to provide financing packages supporting the establishment and expansion of projects in the Saudi film sector.

The program targets both local and international companies operating in the Saudi film sector, aiming to stimulate sustainable growth in the film industry and empower the private sector through financing packages to support local content and enhance film production in the Kingdom. This is particularly beneficial for small and medium-sized enterprises in this promising sector, attracting increasing attention from both local and international investors.

On May 17, 2023, the Cultural Fund launched the Film Sector Investment Program with a budget of SAR300 million as part of the Film Sector Financing Program, which had a total budget of SAR879 million. This launch occurred on the sidelines of the Cannes Film Festival. The Fund unveiled its new investment program on the Cannes Film Festival stage, held in France from May 16 to 27, 2023.