Saudi Arabia Launches $100 Million Film Fund
The Saudi Film Fund aims to forge international partnerships with major studios and create content that authentically reflects Saudi culture and values.
MEFIC Capital has launched the Saudi Film Fund, which has received a sizable capital injection of SR375 million ($100 million), with 40% of its funding coming from the Kingdom's Cultural Development Fund. [1]
Collaborating with MEFIC Capital and Roaa Media Ventures, the Saudi Film Fund aims to forge international partnerships with major studios and create content that authentically reflects Saudi culture and values.
This initiative stems from an initial agreement inked between the Cultural Development Fund, MEFIC Capital, and Roaa Media Ventures at the Cannes International Film Festival. Aligned with the Film Sector Financing Program, the venture seeks to bolster digital content creation within the Kingdom.
Saudi Arabia is gearing up to host the Red Sea International Film Festival (RSIFF) for the fourth consecutive year from December 5th to 14th in Jeddah.
A distinguished jury presided over by renowned author, director, and producer Baz Luhrmann evaluated 17 feature films and 25 short films at the festival last year, which featured 125 films from 75 different countries.
By providing a platform for Saudi filmmakers to showcase their craft alongside international counterparts, the festival fosters cross-cultural dialogue, collaboration, and creative inspiration.