Indian media and leisure large Eros Media World is transferring into the quickly rising Saudi Arabia market, coming into a strategic partnership with Riyadh-based content material manufacturing company Arabia Pictures Group.
The pair will discover alternatives within the movie, technology and Web3 areas and eye investments in content material manufacturing, together with end-to-end manufacturing, line manufacturing, distribution and extra. They may also search to introduce new applied sciences that may additional the expansion of the media and leisure sector in Saudi. Eros and APG are already within the superior phases of testing film archive digitization and digital location scouting applied sciences.
Eros additional stated at the moment that it’s going to accomplice within the Kingdom’s Vision 2030 framework, changing into the primary media company of Indian origin to discover actionable alternatives.
Vision 2030 is designed to scale back Saudi Arabia’s dependence on oil and diversify its financial system with the native authorities planning to rework its movie business into a significant financial contributor by investing roughly $6.9B within the sector. Since a ban on cinemas was lifted within the market, field office has been booming with Bollywood movies notably amongst these drawing audiences.
Pradeep Dwivedi, Group CEO Eros Media World, famous, “Saudi Arabia is a strategic market for global organizations like Eros Media World. We aspire to be a frontrunner in not only getting a foothold in this burgeoning market but also contribute to the economy through our expertise. This partnership with Arabia Pictures Group is significant as it allows us to understand the market and introduce new concepts and technologies that are crucial to the growth of the sector in the region. Cultural similarities between India and Saudi Arabia will help accelerate this process and create value for stakeholders.”
Arabia Pictures Group CEO Roua Almadani stated, “We have always been aspiring to partner with India, the top entertainment creators in the world, and now the dream has come true. I’m proud of the strategic cooperation with Eros Media World PLC, which is the first of its kind in the Arab world. This cooperation will create various job opportunities in entertainment production and filmmaking as well as new discovering young talents in the film industry in the Kingdom of Saudi Arabia and the Middle East.”