'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,

Chinese Government Could Use

TikTok for Espionage, Warns FBI Director