Heena: Maldivian film industry generates an average annual revenue of MVR 15M

Minister of Arts, Culture and Heritage Heena Waleed, on Thursday night, said that the Maldivian film industry generates an average annual revenue of MVR 15 million.

Speaking during last night’s episode of the “Ahaa” forum, a public engagement platform jointly hosted by the President’s Office and state media, Minister Heena said the state provides significant subsidies to support Maldivian artists. She made the remarks in response to a question from a member of the public regarding the support provided to the creative sector.

She explained that the Olympus cinema is leased to filmmakers at a nominal rate of MVR 2,000 per night, despite the considerable commercial activity generated by the Maldivian film industry.

"The average annual revenue of this sector currently stands at approximately MVR 15 million," Heena said.

The Minister further explained that the Olympus facility houses a cinema hall, practice rooms, training rooms, and an art gallery, all of which require considerable expenditure for maintenance and repairs. However, she said the government continues to subsidize these facilities to help artists maximize their income-generating opportunities within the creative sector.

"As an example, we provide the Art Gallery to artists without a daily lease fee. However, 15 percent of the profit generated by an artist from their exhibition is deposited into the National Centre for the Arts (NCA) Trust Fund," she clarified.

Describing the film industry as an important component of the creative sector, Heena said it has developed considerably over the years, with the growing frequency of film screenings at Olympus serving as one indication of this progress.

The Maldivian film industry has experienced a recent increase in production, with new films being released through elaborate and high-profile launch ceremonies.