'Red Sea Souk Seeks to Become Key Film Market
Seeks to Become Key Film Market
The Red
Sea Souk, the four-day industry market of the Red Sea Film Festival, is positioning itself
This year’s
second edition includes two development competitions, a work-in-progress competition, and the Red Sea 360º event,
The projects
selected for the development and pic-in-post competitions are competing for $400,000 in Red Sea Fund awards,
Last year’s
first edition had over 3,500 accredited industry professionals and organizers expect an even larger turnout
Attendees include
international sales agents, distributors, festival programmers and a 30-person team from Netflix, with the streamer
This includes
the $10 million Red Sea Film Fund, which is catalyzing a growing network of coproduction partners
The backdrop
to this strategy is the booming Saudi box office, which was $238 million in 2021, a 95% increase
“Cinema in
this region is in major expansion,” explains the foundation’s managing director Shivani Pandya Malhotra
“There are
a lot of movies that need to be financed, which makes the Red Sea Souk
The box
office in Saudi Arabia and throughout the region features American blockbusters, and films from Egypt,
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