Red Sea Film Foundation Partners with Diriyah Biennale to Present 'Cinema Nights'

Red Sea Film Foundation Partners with Diriyah Biennale to Present 'Cinema Nights'
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Red Sea Film Foundation Partners with Diriyah Biennale to Present 'Cinema Nights'

Red Sea Film Foundation Partners with Diriyah Biennale to Present 'Cinema Nights'

The Red Sea Film Foundation announced on Wednesday that it will partner with the Diriyah Biennale Foundation to launch the “Cinema Nights” series that will be held on the sidelines of the Diriyah Contemporary Art Biennale 2024 in the JAX District in Diriyah from March 7 to May 23.

This partnership aims to enrich the cinematic and cultural landscape by providing a platform for dialogue through a series of exclusive screenings of local and international films and discussions with filmmakers, "offering a unique opportunity for art and culture enthusiasts to dive into captivating narrative worlds and explore unique cinematic horizons," the Red Sea Film Foundation said in a statement.

The “Cinema Nights” program will present a selected series of exclusive film screenings, including the Saudi film “Hajjan,” by director Abu Bakr Shawky, which tells the story of a boy named Omar and his relationship with his camel “Haffara” that develops over the days. The film highlights a collection of intricately designed scenes against the backdrop of Saudi Arabia’s expansive deserts, starring several stars such as Azzam Namr, Abdulmohsen Alnemer, and rising talent Omar Atawi.

Visitors can watch the anticipated Saudi film “Noura” by Saudi director and writer Tawfiq Al-Zaidi, starring Saudi Arabia’s Yaqoub Alfarhan, and the esteemed Abdullah Al-Sadhan in his first big-screen appearance.

The event will also host a series of international cinematic screenings, including the Japanese film “Evil Does Not Exist” and “Behind the Mountains” by Tunisian director Mohamed Ben Attia, along with many international and local short films.

Red Sea Film Foundation CEO Mohammed Al Turki said: “We are proud of this partnership with the Diriyah Biennale Foundation, which reflects our dedication at the Red Sea Film Foundation to enriching the cultural and cinematic scene in the Kingdom. It also highlights our continuous commitment to fostering partnerships with cultural entities that align with our shared objectives."

He added: “Cinema Nights is not just a cinematic event, but also a cultural platform that celebrates storytelling and creativity and enhances the cultural exchange between peoples.”

Diriyah Biennale Foundation CEO Aya Al-Bakree said: “We are excited to partner with the Red Sea Film Foundation to offer a rich cinematic experience to our visitors. We strongly believe in the role that film plays in highlighting unique stories and igniting new dialogue between different cultures and generations.”

“Through our second edition of the Diriyah Contemporary Art Biennale we aim to create a thought-provoking, immersive, and multi-sensory cultural journey for visitors of all ages and backgrounds, and we believe our collaboration with the Red Sea Film Foundation is an important step in achieving that goal,” she added.

The program offers a curated selection of ten feature films every Thursday from March 7 to May 23. Furthermore, local and international short films will be shown on May 10 and 11 at the Diriyah Biennale Foundation in Riyadh, providing visitors with an immersive cinematic experience using the latest sound and image technologies. Arabic and English subtitles are available for all the scheduled film screenings.

“This partnership between the Red Sea Film Foundation and the Diriyah Biennale Foundation reflects a shared commitment to enhancing the cultural and cinematic landscape in the Kingdom, and to fostering artistic and creative expression through platforms that attract promising artistic and cinematic talents," said the statement.



Netflix Shares Rise as Rosy Outlook Calms Investors’ Nerves amid Tariff Fears

In this Nov. 4, 2017, file photo, the logo of entertainment company Netflix is pictured in Paris. (AP)
In this Nov. 4, 2017, file photo, the logo of entertainment company Netflix is pictured in Paris. (AP)
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Netflix Shares Rise as Rosy Outlook Calms Investors’ Nerves amid Tariff Fears

In this Nov. 4, 2017, file photo, the logo of entertainment company Netflix is pictured in Paris. (AP)
In this Nov. 4, 2017, file photo, the logo of entertainment company Netflix is pictured in Paris. (AP)

Netflix shares rose about 3% in premarket trading on Monday as the streaming giant's upbeat annual revenue outlook reassured investors that it could withstand any economic downturn amid a tariff laden economic climate.

The company's co-CEO Greg Peters noted that the entertainment sector, and Netflix specifically, had proven resilient during previous downturns.

Peters said they had not seen any significant shifts in customer behavior, after the company reported first-quarter earnings above analysts' expectations on Thursday.

Netflix also reaffirmed its 2025 revenue forecast of between $43.5 billion and $44.5 billion.

These remarks offered some respite to investors who were worried that President Donald Trump's tariff policies could likely lead to a recession, forcing consumers to rein in spending on streaming services.

"Even in a global recession scenario, Netflix is likely to be highly resilient given the price-to-value of the service remains very attractive," said Jeffrey Wlodarczak, an analyst at Pivotal Research Group, who is five-star rated for both estimate accuracy and recommendation performance, as per LSEG data.

"Their advertising business should demonstrate strong growth in any scenario given its nascent state," Wlodarczak said.

The lower-priced, ad-supported tier accounted for 55% of new sign-ups in countries where it is available, Netflix said.

"While advertising is a small portion of the business today, the longer-term prospects are notably robust...while investments in ad-tech capabilities should drive healthy growth for years to come," BofA Global Research analysts said.

Earlier this month, the Wall Street Journal reported that Netflix aims to double revenue from $39 billion in 2024 and earn about $9 billion in global ad sales by 2030.

The company has upped the ante on delivering steady revenue growth as it ceased reporting subscriber data from this year, leaving Wall Street with fewer metrics to gauge its health.

Peers Walt Disney and Warner Bros Discovery shares were down under 1% each in premarket trading.

At least seven brokerages raised price target for Netflix following its results, bringing the median target to $1,147.50, according to data compiled by LSEG.