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