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.”
