For Saudi Arabia, one part of its investment strategy that has garnered significant international attention has been its acquisitions and growing stakes in technology and AI, particularly in terms of its role in the U.S. market.
What has received comparably less attention has been the Kingdom’s investment strategy in cultural and entertainment industries, which has been as significant in quantity and in terms of the quality of its strategy.
Saudi’s sovereign wealth fund, PIF, has in recent months announced its acquisition of video game producer Electronic Arts, a deal amounting to 55 billion USD to be finalised by 2027. At the end of 2026, it was also revealed that the PIF was part of Paramount’s bid to purchase Warner Bros. Discovery, a major player in the US media landscape.
These high-profile deals are the tip of the iceberg. Beneath them is a broad and coherent strategy that seeks to position Saudi both as a regional lead of media and entertainment in the Middle East, and a major player in global influence over creative industries.
Investment abroad, particularly in the U.S. market, serves two parallel needs. First, by strengthening Saudi Arabia’s soft power influence, the Kingdom can continue to captivate the global audiences it needs to sustain its goals of attracting foreign talent, tourists and investment. Second, its investments translate into access to talent, know-how and technical capabilities that can then be brought into Saudi Arabia’s own budding creative and cultural industries.
The seeds of the strategy are sown into Vision 2030 which posits the investment in and development of creative and cultural industries as a key means for future proofing and diversifying the Saudi economy.
The inauguration of the Ministry of Culture in 2018, and subsequent development of infrastructure - including museums such as the Red Sea Museum, festivals like Noor Riyadh and creative hubs like Jax District - indicate the commitment to cultivating this part of the Saudi economy. The official target is for the cultural sector to contribute 3% to total GDP and almost 350,000 jobs by 2030.
Major events that have a global pull, most notably the Riyadh Comedy Festival, point to the progress already made in establishing the Kingdom as a hotspot for high profile names. A driving force for the demand of such entertainment options is the nation’s young, tech savvy population: the median age of Saudi citizens is currently estimated around 25 years old.
