Saudi Film Fund Geared toward Advancing Investment in Film Content

Saudi Film Fund Geared toward Advancing Investment in Film Content
TT
20

Saudi Film Fund Geared toward Advancing Investment in Film Content

Saudi Film Fund Geared toward Advancing Investment in Film Content

MEFIC Capital launched on Monday the Saudi Film Fund with a total capital of SAR375 million, including a 40% investment from the Cultural Development Fund, underscoring the attractive investment landscape in the Kingdom's film and media sector.

The fund aims to spur investment in this industry and provide financing for innovative content production and distribution projects infrastructure.

The strategic Saudi Film Fund is bound to promote high-quality local production; it marks the first investment by the Cultural Development Fund, in collaboration with MEFIC Capital, who will manage the fund.

Roaa Media Ventures will serve as the technical partner that seeks to facilitate collaboration with leading international studios and create content that highlights Saudi culture and values.

The Saudi Film Fund complements the agreement reached by Cultural Development Fund, MEFIC Capital, and Roaa Media Ventures during the Cannes International Film Festival last year. It is a major investment in the industry, and part of the film sector financing program initiated by the Cultural Development Fund in 2023 under the Digital Content Program (IGNITE) that aims to increase digital content in the Kingdom.

The Saudi film production market has experienced significant growth, with an annual growth rate exceeding 25%. It is the largest consumer market for creative and cinematic content in the Arab world, driven by initiatives from the Ministry of Culture and the Quality of Life Program, part of the goals of Vision 2030.

This growth is proof of the rising demand for local culture and language in cinematic works, influenced by the increasing role of digital broadcast networks as competitors to traditional cinema halls, which boosts the consumption of visual content.



Brian Tyree Henry Says 'Dope Thief' Role Felt Like 'Homecoming'

Actor Brian Tyree Henry attends the Los Angeles premiere of Amazon MGM Studios' ''The Fire Inside'' at the DGA Theater in Los Angeles, California, US, December 4, 2024. REUTERS/Aude Guerrucci/File Photo
Actor Brian Tyree Henry attends the Los Angeles premiere of Amazon MGM Studios' ''The Fire Inside'' at the DGA Theater in Los Angeles, California, US, December 4, 2024. REUTERS/Aude Guerrucci/File Photo
TT
20

Brian Tyree Henry Says 'Dope Thief' Role Felt Like 'Homecoming'

Actor Brian Tyree Henry attends the Los Angeles premiere of Amazon MGM Studios' ''The Fire Inside'' at the DGA Theater in Los Angeles, California, US, December 4, 2024. REUTERS/Aude Guerrucci/File Photo
Actor Brian Tyree Henry attends the Los Angeles premiere of Amazon MGM Studios' ''The Fire Inside'' at the DGA Theater in Los Angeles, California, US, December 4, 2024. REUTERS/Aude Guerrucci/File Photo

Brian Tyree Henry plays a thief fearing for his life while dealing with his painful past in gritty crime drama "Dope Thief", a role the US actor said felt like "a homecoming".

The eight-part mini-series stars Henry as Ray and "Narcos" actor Wagner Moura as Manny, two Philadelphia friends who pose as DEA agents to rob trap houses. But when they raid an unknown rural house, they unleash a dangerous set of events that sees them running from a cartel as well as the police.

“There was so much about (Ray) that resonated with me. I saw this man that was dealing with generational trauma, trying to find a way to make it, trying to find a way to actually be cared for," Henry, known for films such as "Transformers One", "Bullet Train" and "Causeway", for which he earned an Oscar nomination, told Reuters.

"He allowed me to lay down a lot of my burdens that I had been carrying ... it was definitely another transition for me ... to elevate myself and how to deal with my emotions and deal with my abandonment, deal with my fear and deal with all those different things.

"And so, Ray was actually the first time in a long time that I felt like I had come home. He felt like a homecoming in a way."

At the heart of "Dope Thief" is the long-running friendship between Ray and Manny and how they deal with their struggles.

"The show is violent. There's a lot of violence and crime and running and you've got this Black and Latino man, we've kind of seen this kind of show before," Henry said.

"But ... we wanted to show the tenderness between these two, the friendship."

"Dope Thief" is based on the 2009 novel by Dennis Tafoya, however the show drifts away from the book, series creator Peter Craig said.

"I liked that (Tafoya's) really got two novels in one. The second half is very internal, so I liked the idea of just using the first half and then having a lot of room for invention," he said.

"Dope Thief" premieres on Apple TV+ on Friday.