Eros Media World PLC announced that it is entering into the rapidly growing Saudi Arabian market to capitalize on new opportunities and identify synergies with the various Saudi Arabian government initiatives designed to foster growth in the media and entertainment sector. One of the driving forces behind the growth initiative is the General Entertainment Authority (GEA), which was established by the government of Saudi Arabia in 2016 to help drive Vision 2030, a strategic framework to move away from Saudi Arabia's dependence on oil to diversify its economy and develop public service sectors such as health, education, infrastructure, recreation, media, and tourism. Eros will partner in Vision 2030 and will be the first media company of Indian origin to explore actionable opportunities.

As the first step in this endeavour, Eros has entered into a strategic partnership with Arabia Pictures Group “APG”, headquartered in Riyadh,which caters mainly to the MENA region and is focused on content production. Through this partnership, Eros and APG will explore strategic and business opportunities in the film production, technology, and Web3 space exclusively catering to the Indian entertainment industry. This partnership is pioneering in several ways.

It is the first time that an Indian media company has collaborated with a Saudi Arabia-based organisation to develop an all-encompassing entertainment ecosystem jointly. Together the two companies will explore investments in content production, such as end-to-end production, line production, distribution, and more. The companies will also seek to introduce new technologies that can further the growth of the media and entertainment sector.

The two companies are already in the advanced stages of testing movie archive digitization and virtual location scouting technologies. With new-age blockchain and related technologies transforming businesses worldwide, the joint entity will focus on building an environment that supports decentralised and autonomous new economy growth creating a more equitable and empowering ecosystem for the entertainment community to thrive.