(MENAFN- Arab Times) 
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Dramatic shift evident at Cannes
LOS ANGELES, May 18, (RTRS):
Saudi Arabia once had grand ambitions to become the movie capital of the Middle
East, but the murder of journalist Jamal Khashoggi has cast a dark cloud over
those dreams. Amid reports that appeared to implicate Crown Prince Mohammed bin
Salman in the assassination, media companies that had rushed to embrace the
Saudi leader as a reformer and had touted the potential of his country clammed
up.
That dramatic shift in attitude
is evident at this year's Cannes Film Festival. A year ago, Saudi Arabia used
the festival to court studios and film financiers. It set up its first national
pavilion and trumpeted local rebates to lure Hollywood productions. But there
is no Saudi tent on the Croisette this year, the promised incentives have not
materialized, and the Khashoggi killing and various Saudi government policies
continue to cause widespread revulsion.
'Everybody
slowed down when the events around Khashoggi happened,' Imax CEO Rich Gelfond
acknowledged at an event in Cannes, adding: 'But I think people are starting to
move forward again.'
For some companies, Khashoggi's
brutal murder, by Saudi security agents whom the kingdom insists acted on their
own, made it impossible to do business in a country rigidly controlled by the
royal family and, in particular, the crown prince. Endeavor returned a $400
million investment from the Saudi sovereign wealth fund, and companies such as
Viacom and Uber dropped out of a Saudi conference dubbed 'Davos in the Desert'
that had been intended to highlight bin Salman's modernization efforts.
But other Hollywood players
ultimately decided to plow ahead with plans to enter a market that boasts a
young population of wealthy consumers.
'You have to go in with your eyes
open about the political situation and not be naive about it, but it's potentially
a very lucrative opportunity,' said Eric Handler, an analyst with MKM Partners.
Deals
Movie theaters, banned prior to
2018, are opening at a rapid pace in the kingdom, with Middle East-based Vox
Cinemas on track to have more than 100 screens in operation by year's end. AMC,
the world's largest exhibitor, expects to open as many as 50 theaters in the
next five years. Imax has two theaters in operation through licensing deals.
Major studios continue to release their films such as 'Avengers: Endgame'.
In Cannes, the Saudi contingent
is keeping a lower profile this year, but it includes former Dubai Film
Festival exec Shivani Pandya, who has been named general manager of Jeddah's
ambitious new Red Sea International Film Festival, Variety has learned. The festival
is set to kick off next year.
'The road might be bumpy in its
initial stage, and we may be witnessing some setbacks,' said Dubai-based
producer Fadi Ismail. 'But for sure things are moving forward.' Ismail, the
former general manager of Saudi-controlled Dubai-based broadcaster MBC's
production arm, is now launching his own company with a slate full of projects
based on Saudi intellectual property.
In Cannes, Abu Dhabi-based
production powerhouse Image Nation, MBC, and Vox Cinemas on Wednesday announced
a partnership to jointly produce and distribute Arabic film and TV projects in
which 'Saudi Arabia factors in enormously,' said Image Nation chief Michael
Garin.
But outside the region, the
killing of Khashoggi is impacting Saudi Arabia's ability to forge international
ties to make movies and attract top talent. It probably won't be easy to get
movie stars to attend the Red Sea fest. 'It was tough enough to bring stars to
Dubai,' said a prominent Middle East film exec who asked to not be identified, adding
that 'the current perception of Saudi is going to make it even tougher.' Nor
have any major Hollywood productions announced plans to shoot in the kingdom –
something that seemed possible when the country teased a generous round of film
incentives.
'When we talk about the Saudi
film industry … it's sort of starting from zero, and it's going to be quite a
long process to build up anything that's meaningful,' said David Hancock of
research firm IHS Markit.
The Red Sea fest, which will
include a year-round incubator/film lab, was announced in March, along with
other initiatives, by Prince Badr Bin Abdullah Bin Farhan, who was appointed
Saudi Arabia's first culture minister last June. The prince, who is in his
early 30s, is believed to be determined to lay the groundwork for an
entertainment industry in Saudi Arabia, as is Turki Al-Shabana, who was
appointed Minister of Media in December. Al-Shabana is a former top exec at MBC
and the Rotana Media Group.
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