Saudi movie ticket prices could reach $35, says AMC chief

Cinema ticket prices in Saudi Arabia could rise by 50 to 75 percent in a “matter of months” given the high demand in the Kingdom, Variety reported, citing US-based AMC chief executive Adam Aron.

Speaking at a panel discussion at CinemaCon in Las Vegas, Aron predicted a $20 ticket price could increase to between $30 to $35 a pop in a matter of months.

“Honestly, [the price] is too low,” he said, adding, “Pent up demand is so high that at the moment price is not a barrier.”

However, Andrew Cripps, president of 20th Century Fox International, expressed alarm about the high prices.

“It’s not in the long-term interest to see prices go up,” he said.

Last December, Saudi Arabia’s Ministry of Culture and Information lifted a 35-year ban on cinemas, as part of radical social and economic reforms under Vision 2030, spearheaded by Crown Prince Mohammed bin Salman.

With a population of over 32 million, Saudi Arabia can become the largest market for movie-goers in the GCC region. The Kingdom plans to open up to 350 theatres and over 2,500 screens by 2030.

Earlier this month, the culture ministry granted the first cinema license to a joint venture of Public Investment Fund (PIF) and AMC to inaugurate cinemas around the Kingdom.

AMC became the first exhibitor to open a cinema in Saudi Arabia on April 18, with private screening of the Black Panther movie.