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MDLBEAST 2023 Report Shows Growing Impact on Three Main Economic Sectors: Advancing Vision 2030 Goals

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Boosting the Saudi economy with SAR 1.45 billion.
Three main sectors benefited from MDLBEAST’s audiences- travel, accommodation, and entertainment.
Creating Over 18,000 jobs.
Supporting 1125 businesses.
Showcasing KSA as a pivotal global acclaim and instilling pride worldwide.
MDLBEAST, the leading Saudi music entertainment company, has released its 2023 Socio-Economic Impact Report, underscoring its significant role in advancing Vision 2030. The report reveals that the direct and indirect impact of MDLBEAST contributed in total SAR 1.45 billion to the local economy, supported 1125 businesses, and created over 18,000 job opportunities in 2023. The impact stems from the increasing spending of event visitors and was achieved without an increase in MDLBEAST’s expenditure, achieving benefits for three main economic sectors: travel, accommodation, and entertainment.
By fostering economic growth and cultural development, MDLBEAST is helping to position Saudi Arabia as a global leader in the creative economy and music industry, showcasing KSA as a pivotal global acclaim and instilling pride worldwide.
Ramadan Alharatani, CEO of MDLBEAST, commented, “At MDLBEAST, we are committed to driving impact and inspiring change across Saudi Arabia and the region. Our work goes beyond music—it’s about creating jobs, supporting local businesses, and aligning with the Vision 2030 objectives. By empowering local talent and fostering a creative economy, we are proud to contribute to Saudi Arabia’s transformation as a global hub for culture, music, and innovation.”
As per the study, MDLBEAST is not only reshaping the local and regional music industry but also helping to positively influence how the global community views the image of Saudi Arabia by breaking stereotypes about the Kingdom and showcasing cultural richness through its events and festivals to global audiences.
As indicated in the report, by attracting international audiences, showcasing Saudi culture, and promoting cultural exchange, MDLBEAST is a key player in Saudi Arabia’s Vision 2030 ambitions to become a thriving global tourism and music entertainment hub.
Key Findings from the MDLBEAST 2023 Impact Report:
Supporting Local Businesses and Artists: In 2023, MDLBEAST spent 60% of its funds locally, with 90% of that amount benefiting Saudi suppliers, giving back to the Saudi economy. The company supported 1125 businesses in 2023, empowering the local economy and fueling growth.
Creating Jobs in Saudi Arabia: MDLBEAST created over 18,000 job opportunities, including full-time jobs and part-time and temporary positions, significantly contributing to employment across the Kingdom.
Economic Boost and Visitor Spending: MDLBEAST’s events contributed SAR 1.45 billion to the local economy in 2023, primarily benefiting travel (39%), entertainment (17%), and accommodation (16%).
Advancing Vision 2030 Through Cultural and Economic Development
MDLBEAST is actively contributing to the Saudi Vision 2030, which aims to diversify Saudi Arabia’s economy and enhance its cultural offerings. By driving 26% of household spending on cultural and entertainment activities within the Kingdom, MDLBEAST’s events are at the heart of efforts to create a thriving creative economy.
MDLBEAST’s commitment to empowering Saudi entrepreneurs is equally impactful, helping retain SAR 131 million in the local economy as 72% of Saudi residents chose to stay in the Kingdom for entertainment rather than travel abroad during MDLBEAST events.
Empowering Saudi Talent and Entrepreneurs
‘Nurturing local talent’ emerges as a top-3 impact driver in 2023, through talent discovery initiatives such as XPERFORM and Storm Shaker, alongside education-driven initiatives like BEAST Education, XCHANGE, and Artist Management Bootcamp.
MDLBEAST is committed to growing Saudi Arabia’s music ecosystem by creating opportunities for local talent. In 2023, the company signed over 125 local artists, reflecting a 25% growth from the previous year. Through initiatives like XP Music Futures and its artist development programs, MDLBEAST is positioning Saudi artists on a global stage, while also driving entrepreneurship in the music, hospitality, and creative sectors.
Driving Social Change and Empowering Women in Music
The report revealed that MDLBEAST continues to champion social change by empowering women in the music industry. The company’s mentorship programs, inclusive spaces, and advocacy initiatives provide greater representation and opportunities for women in the creative field.
As per the findings of the report, 54% of people noted that MDLBEAST greatly encourages women’s participation in the music industry.
“MDLBEAST, as a catalyst in the music industry, continues to shape the landscape and generates a positive impact across various facets of the local Saudi society in 2023. Key stakeholders within the KSA music industry recognize MDLBEAST’s positive impacts, benefiting artists, individuals, and businesses alike across areas, such as national vibrancy, empowering businesses, entrepreneurship, nurturing local talent, expanding career horizons, and empowering women in the music industry”, Alharatani explained.
By encouraging creativity and providing career development opportunities, MDLBEAST is also inspiring students to pursue careers in the music and entertainment industries, helping build a sustainable creative future for Saudi Arabia.
Positioning Saudi Arabia as a Global Music and Tourism Destination
Drawing attention from international media, tourists, and music industry professionals worldwide, MDLBEAST’s events have the power to create ripples that extend far beyond local borders.
The global exposure garnered by MDLBEAST’s events is invaluable, serving as a catalyst for shaping a positive perception of the nation on an international scale.  In 2023, the primary catalyst for changing overall global perception about KSA is the “positioning of Saudi Arabia as a music destination” (46%), followed by “positioning
KSA as a tourism destination” (27%) and “positioning KSA as a business/ employment destination” (27%).
“As we look ahead, our focus remains on expanding opportunities for local talent and strengthening Saudi Arabia’s presence on the global cultural stage. We are excited to continue pushing boundaries, creating world-class music experiences, and playing our part in shaping the Kingdom’s vibrant future. With each new festival, initiative, and partnership, we’re not just building events—we’re building a legacy that will inspire generations to come.”, Alharatani added.
MDLBEAST initiated its first socio-economic Impact in 2022 and aimed to measure it again in 2023 with a commitment to driving more effective collaboration of the business with the community and the government in Saudi Arabia,  and promoting the growth of the music industry in the region and change the music scene in Saudi Arabia through events and investments.
The study, issued by MDLBEAST Foundation this year, conducted interviews with thousands of music pros, event attendees, and entrepreneurs on Soundstorm, Balad Beast, and XP Music Futures

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Cityscape Bahrain 2024 Concludes on High Note, Facilitating 341 Million BD in Real Estate Deal

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Cityscape Bahrain, the Kingdom’s most eagerly awaited regional real estate exhibition and conference, has concluded with resounding success, attracting a record number of over 10,000 visitors from across Bahrain and the MENA region. The event showcased over 50 mega real estate projects, collectively valued at billions of dollars, highlighting the Kingdom’s thriving real estate market and its appeal to regional and international investors. Notably, the event catalyzed a remarkable 341 million BD in deals, further underscoring Bahrain’s robust position as a hub for property investment and development .
Cityscape Bahrain 2024 also hosted a highly anticipated conference under the theme ‘Innovate, Elevate & Thrive – Liveability at the Heart of Bahrain’s Vision.’The conference brought together more than 400 attendees, and over 25 distinguished local, regional, and international experts. Proceedings began with a warm welcome and opening remarks by Informa Markets, setting the stage for the insightful discussions and networking opportunities to follow.
In a nod to its dedication to nurturing young talent, Cityscape Bahrain 2024 proudly featured the Architects of Tomorrow competition, which invited students to showcase their innovative visions for enhancing Bahrain’s living standards through thoughtfully designed spaces and infrastructure.Visitors had the chance to explore these creative submissions displayed throughout the event, highlighting the exceptional promise of Bahrain’s next generation of architects.. A panel of esteemed judges reviewed the models and posters, leading to the announcement of the three winning projects: Jovianne Alba and Hussain Hani from the University of Bahrain came in first place and second place respectively, while Amnah Rashid Sabah Alkhalifa and Tia Fadi El Khatib from the Royal University for Women claimed third place. Their exemplary creativity and vision demonstrated the immense potential of Bahrain’s future architects.
Firmly established as the premier platform for luxury real estate in the region, Cityscape Bahrain continues to provide an immersive experience, uniting professionals, investors, and future leaders in the industry.

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Netflix Brings the Ultimate Fan Experience to JeddahTwo days of non-stop fun, surprises, and everything you love about Netflix

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Jeddah, 1 December 2024 – From December 5 – 6, fans of all ages are invited to step into the worlds of their favorite Netflix films, series, and games in a one-of-a-kind interactive experience. Whether you’re into drama, action, or comedy, there’s something for everyone. The free, two-day event will feature a dynamic lineup of activities designed to engage fans.
Visitors can expect to immerse themselves in the most beloved Netflix titles with experiences inspired by both Arabic and international hits. Among the highlights, fans can step into the worlds of AlKhallat+ and RasbRas, or create their personalized scent inspired by the hit series Finding Ola, while those who enjoy a bit of strategy can test their skills with a challenge at The Exchange. Football fans can immerse themselves in the Saudi Pro League: Kickoff experience, bringing the thrill of the game to life. Fans can also explore the iconic pods of Love is Blind Habibi, indulge in a Regency-era inspired high tea at the Bridgerton Cafe, and get an exclusive look at the gothic bedroom coming straight from the world of Wednesday. Finally, fans of One Piece can test their strength with Luffy’s Gum Gum Power Punch, a hands-on challenge inspired by the beloved character.
Throughout the two days, there will be live entertainment, photo opportunities, and chances to meet some of the talent and creators behind Netflix’s most popular series. Whether it’s through immersive installations, interactive challenges, or special meet-and-greets, the Netflix Brand Experience offers fans a unique and immersive way to engage with the content they love.
The Netflix Brand Experience is free and open to the public and will be held from 4:00 PM to 12:00 AM each day at Le Chateau Mall, providing fans with plenty of time to explore, interact, and enjoy the thrilling world of Netflix.

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MOU between the National Security Services Company “SAFE” and “eFinance” for Providing a Comprehensive and Secure Security System for Digital Payments.

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the National Security Services Company (SAFE), one of the Public Investment Fund Companies Leading the transformation in the security services sector. in the Kingdom of Saudi Arabia, announced today the signing of a memorandum of understanding ( MOU) with the Egyptian financial technology company “eFinance,” which specializes in technical services and providing electronic payment and collection services, along with technical support.

This step confirms the ambitious strategy of “SAFE” which aims to offer a comprehensive package of solutions for managing ATM services, point-of-sale devices, and cash deposit machines using the latest technologies.

This announcement was made on the sidelines of the 28th session of the Cairo ICT International Technology Conference and Exhibition for the Middle East and Africa, held from November 17 to 20, 2024, in Cairo, under the auspices of His Excellency President Abdel Fattah El-Sisi, the president of the Arab Republic of Egypt, and under the slogan “The Next Wave.”

Both parties, in the presence of Engineer Hossam El-Goly, eFinance’s member of board of directors and Mr. Turki bin Maatouq Al-Thonayan, CEO of the National Security Services Company “SAFE” agreed to participate in the strategic initiative of “eFinance,” which aims to encourage banks and financial institutions to expand their reliance on outsourcing services in managing ATM services, point-of-sale devices, and cash deposit machines, including cloud computing services. The two companies will work closely to enhance their capabilities in providing integrated security solutions in four key areas: first, comprehensive point-of-sale services; second, comprehensive ATM services; third, comprehensive cash deposit machine services; and finally, international money transfer services between the Kingdom of Saudi Arabia and the Arab Republic of Egypt.

According to the memorandum of understanding, “eFinance” will provide cloud hosting for the system or related services at the client’s site, in addition to providing specialized expertise to implement the mentioned areas. They will also participate in marketing services to banks and non-banking financial institutions, alongside operational services and direct technical support. Meanwhile, “SAFE” will provide the necessary equipment for collaboration in the agreed areas, along with offering specialized experts to work with the “eFinance” team to build the agreed solutions and participate in marketing and selling services to banks and financial institutions.

For his part, Mr. Turki bin Maatouq Al-Thonayan, CEO of the National Security Services Company “SAFE,” which is wholly owned by the Public Investment Fund, emphasized that “the company will work with ‘eFinance’ to build a work plan in areas of collaboration to serve financial institutions, locally or internationally, by enhancing integration among the security system’s parties to meet customer aspirations and needs.”

He also added that the partnership with “eFinance” is an important step toward achieving the company’s ambitions to elevate security services in both countries and build a prosperous future by leveraging the best technologies, enabling the company to continue its commitment to contributing to the implementation of both “Saudi Vision 2030” and “Egypt Vision 2030” within the financial sector framework.

Al-Thonayan clarified that “SAFE” aims through this partnership to ensure leadership and innovation in the security sector across the main areas the company offers: consulting services, integrated solutions, training and development programs, and command and control centers. The company’s unique business model relies on collaboration with the most innovative companies in their fields, providing security and safety as a service, and focusing on meeting the specialized needs of the markets in which it operates.

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