Saudi Outfits Muvi & Telfaz11 Strike Cooperation Agreement – Deadline

Muvi Cinemas, the first locally owned and operated cinema brand in Saudi Arabia, and Riyadh-based producer and financier Telfaz11 have signed an agreement that will allow the two companies to team up to expand filmmaking in the region.

Under the terms of the deal, Muvi takes an undisclosed stake in Telfaz11. A new film fund will also be created to finance feature films produced by Telfaz11 which will be screened in theaters in Saudi Arabia. The companies say they will also collaborate on others’ social media and digital platforms as part of a marketing alliance as they seek to grow their brands.

In November, Netflix struck a deal with Telfaz11 to produce a list of eight films for the global streamer. Muvi recently teamed up with leading Middle Eastern distributor Front Row to launch a Saudi distribution joint venture, Front Row Arabia.

Netflix signs eight-movie deal with Saudi Arabia’s Telfaz11

“We are extremely excited about this strategic partnership with Telfaz11,” says Sultan Alhokair, CEO of Muvi Cinemas. by 2030. Studios such as Telfaz11 are well positioned to be market leaders as the Saudi film industry is similar to that of France, Italy and Germany, as the Local language content accounts for over 40% of annual box office revenue. In addition, Telfaz11’s expertise in creating creative content and growing audiences will be invaluable to the Muvi brand as we seek to increase our reach to 610 cinema screens in 60 theaters by 2025. ”

Added Telfaz11 CEO Alaa Fadan, “Saudi Arabia is making huge strides in the entertainment community, both with what we produce and how we reach audiences. Our long-standing goal has been to ensure that all Saudis can experience the magic of cinema in theaters, and this deal with our friends at Muvi only strengthens Telfaz11’s mandate to participate in the growth. culture of our country in the film and media sector.

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