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Media Deals

Hollywood studios are turning to Gulf investors to fuel the insatiable appetite for content.

Yes, but: Foreign money raises questions about creative independence in U.S. entertainment.

Zoom in: Movie studios and entertainment companies have long treaded carefully around local laws and censorship rules, especially in the Middle East and China. New investments and partnership opportunities from state-backed sovereign wealth funds put more pressure on Hollywood as they expand.

Gerard Butler's 2023 action film "Kandahar" received significant backing from the Saudi-owned MBC Studios and was filmed in the region, but was criticized by some as Saudi propaganda. 

Netflix has faced pressure from Gulf states to remove content that they said violated Islamic and societal values. Earlier this year, the tech giant struck a deal with Saudi-owned broadcasting giant MBC Group for combined TV distribution. 

Between the lines: As traditional studios face tighter margins and streaming platforms demand more output, sovereign wealth funds are emerging as key financiers. 

That follows a pullback from investments from Asian countries, particularly China, says David Shaheen, head of media and communications corporate banking at JPMorgan. 

"I think for the past eight or nine years, it's really shifted, and today, obviously, you feel a lot more coming from the Middle East," Shaheen says.

"When it comes to content creation, the need for capital is somewhat insatiable. You've got some big players and big platforms that have funneled a ton of money into this ecosystem, but there's always going to be a need and desire to create content from different sources," he adds.

State of play: More production firms are eyeing Middle East investment and partnerships amid a funding crunch in the U.S. 

Arena SNK Studios, an indie production studio led by American film producer Erik Feig, launched in October with significant backing from MBC Group.

North Road Company, a production firm formed by Hollywood mogul Peter Chernin, received a $150 million investment from Qatar Investment Authority in 2023.

RedBird Capital Partners, an investment firm focused on media, sports and entertainment, partnered with Abu Dhabi-based International Media Investments to form a joint venture with $1 billion in committed funds.

Live Nation sold a $500 million stake to the Saudi Public Investment Fund in 2020, making it the company's third-largest shareholder. The Saudis exited the investment in 2024. 

Miramax was sold to Qatar's BeIN Media Group in 2016. ViacomCBS, now Paramount, bought a 49% stake in the company in 2019.

AMC, the movie distributor, continues to have a commercial partnership with Saudi Cinema Company, although it sold its stake in Saudi Entertainment Ventures in 2023.

By the numbers: Production in the U.S. is plummeting as Hollywood studios seek cheaper alternatives and tax credits abroad. 

The average number of film and TV production jobs in California, per Luminate, was down 35% during the first quarter of this year compared with the same quarter in 2022. 

Meanwhile, non‑U.S. productions have increased as streamers like Netflix, Amazon and Disney+ eye more localized content.

What to watch: President Trump has twice pledged to impose the 100% tariff on foreign-made movies, saying the film business had been "stolen" from the U.S. But his administration has yet to outline a clear plan for how it would structure those tariffs.

The U.S. is the top exporter of films globally by far, with export value running at three times imports, according to the Motion Picture Association.

U.S. movie studios typically drive the bulk of global box office sales.

Foreign money comes for America's sacred pastimes

TikTok scrutiny is an exception to typical media deal reviews

American creators chase global clout and cash

Global investors are buying into American fandom

U.S. demand for foreign films and shows hits all-time high

Hollywood's new money comes from Gulf investors

Foreign money raises questions about creative independence in U.S. entertainment.

Illustration of a film reel with an earth replacing the film

Media

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Hollywood's new money comes from Gulf investors

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