NBC News in the United States says that in the face of severe financial pressure, which the American cinema industry in Hollywood is suffering from, it appears that Saudi Arabia will be the main funder to prevent the collapse of the world’s largest cinema industry.
NBC News explained that Hollywood's funding had actually dried up due to the COVID-19 pandemic crisis in 2020, and the strike by actors, writers, and screenwriters during 2023, along with audiences turning to social media platforms.
Entertainment lawyer Schuylar Moore said: For Saudi Arabia, the matter is about building its own cinema industry, and it is trying to acquire expertise and specialists in this field.
A number of Hollywood's leading stars and experts have headed to the kingdom to attend the Red Sea Film Festival, which is held in Jeddah until December 13.
