Saudi Arabia has raised its rebate for film and TV productions from 40% to a whopping 60% in a clear signal that the kingdom is keen to keep driving its nascent industry after the removal of its religion-related 35-year cinema ban in late 2017.
The Saudi Film Commission on Friday at the Cannes Film Festival unveiled what it called its “updated cash-rebate program,” that, it said in a statement, “introduces a set of practical enablers that support every stage of production through clear processes, streamlined pathways and competitive financial support.”
“These updates include improved and accelerated disbursement processes, enhancing cash flow efficiency for production companies and creating a more supportive operating environment for project delivery in line with production timelines,” the statement added.
The Saudi rebate, which was first introduced at 40% in Cannes in 2022, was until recently considered difficult to navigate. But that is changing, said Rasha AlEmam, who is CEO of Saudi Arabia’s Yellow Camel Studios and is in Cannes to lure international productions. “Three years ago it was not really a user-friendly rebate,” she told Variety. “But today the systems are in place; the processes, the guidelines, the government approvals. It’s all on paper.”
“Today’s announcement was not just that we are raising the rebate to 60%,” Abdullah bin Nasser Al-Qahtani, CEO of the Saudi Film Commission, told Variety. “We want to be not just the most generous incentive, but also the most agile one.”
“Over the past period, we have worked on developing a number of regulatory and operational aspects related to the incentives program, most notably the launch of the financial audit and disbursement procedures guide, with the aim of improving implementation efficiency and providing filmmakers with greater clarity,” Al-Qahtani noted in the statement.
“Through the program, we are focused on developing an integrated ecosystem that enables filmmakers to work with confidence, empowers the private sector and attracts quality investments that contribute to transferring expertise and knowledge to local talent.”
Recent Hollywood productions shot in Saudi include “Chasing Red,” an adaptation of Isabell Ronin’s bestselling YA romance. Led by “Riverdale” star Madelaine Petsch and Gavin Casalegno, in January it became the first Hollywood movie to be shot entirely in Saudi. “Chasing Red” was shot in AlUla, a swathe of northwest Saudi Arabia that comprises a lush oasis and vast sandstone canyons.
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