Key Takeaways
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- Saudi Arabia is investing $1 billion into reviving SNK Studios in Hollywood, led by former Lionsgate head Erik Feig. The objective is to create a global entertainment franchise based on SNKs iconic gaming licenses.
- Erik Feig, known for his work on productions like John Wick and The Hunger Games, will lead the modernization of classic SNK games such as Fatal Fury, The King of Fighters, and Metal Slug.
- The initiative involves collaboration with third-party studios and streaming platforms, and is part of a broader trend of Saudi expansion into entertainment, including acquisitions in esports, football, Formula 1, and gaming events.
- These cultural investments reflect Saudi Arabias growing soft power strategy, aiming for cultural openness and creative development amidst global challenges.
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Saudi Arabia Revives SNK Studios with $1 Billion Investment for Global Entertainment Empire under Former Lionsgate Head Erik Feig
Saudi Arabia is significantly expanding its cultural investments, following ventures in football, Formula 1, and esports with a new focus on the cinema industry. Riyadh plans to invest $1 billion into reviving SNK Studios in Hollywood, with Erik Feig appointed to lead this initiative. Feig, a veteran of blockbuster production who previously led Lionsgate, will head Arena SNK Studios. Arena SNK Studios is a venture backed by Misk Group, SNK, and MBC Group. These entities are all owned by Saudi Crown Prince Mohammed bin Salman, a notable fan of retro gaming, including NeoGeo. The studio’s objective is to establish a global entertainment franchise built around SNK’s iconic gaming licenses, developing major films, animated series, and international experiences. This substantial investment aims to transform SNK into a leading global storytelling powerhouse.
Revitalizing SNK Classics: Hollywood Veteran Erik Feig Leads Saudi-Backed Entertainment Empire Expansion
SNK boasts iconic titles such as Fatal Fury, The King of Fighters, Samurai Shodown, and Metal Slug, which are legendary in arcade halls and cherished by fans of 1980s gaming. Hollywood previously adapted The King of Fighters into a film in 2009, which was a critical and commercial failure. However, the Saudi sovereign wealth fund is undeterred by this past setback and plans to modernize these classics through Arena SNK Studios. Erik Feig, known for his executive roles at Lionsgate—the studio behind franchises like John Wick and The Hunger Games—and his work as a producer on Remember the Girl from Last Summer, as well as his role in discovering Twilight, will lead this revival. The initiative intends to collaborate with third-party studios and streaming platforms. This investment is part of a broader trend of Saudi expansion into entertainment. Last September, Saudi-owned Qiddiya acquired RTS, the organization behind the prominent EVO fighting game tournaments, following Misk Group’s acquisition of SNK in 2022. Separately, Ubisoft is collaborating with Riyadh to promote Assassin’s Creed Mirage, highlighting AlUla, where French architect Jean Nouvel is designing a hotel and Alstom is preparing a tram system.
Saudi Arabia’s Cultural Opening Strategy Amidst Global Challenges
These initiatives highlight Saudi Arabia’s growing “soft power” strategy, signaling a desire for cultural openness and creative development. While this approach has drawn debate, Saudi Arabia continues to pursue its developmental goals as other global regions face their own challenges.
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