Morocco’s Film Industry Booms: CCM Projects Record-Breaking $100 Million Revenue in 2022

In a statement to Medias24, Khalid Saidi, acting director of the CCM, said that this year’s turnover could even exceed one billion dirhams. The reopening of borders has revived cinematographic investments. For example, Netflix invested around 190 million dirhams in 2022 for "two major ongoing productions. There is the short film Lonely Planet and the series Lioness."

We must add to all this advertising spots, institutional films, documentaries that have allowed the CCM to earn more than 480 million dirhams. The acting director of the CCM indicated that this year’s turnover will represent a historic record. Far ahead of the 800 million dirhams recorded in 2019 and which represented for the center, an exploit achieved since 2010. In 2020, foreign investments in foreign shoots dried up to barely reach 211 million dirhams.

Cinematographic investments could also increase to reach 1.3 billion dirhams in 2023 thanks to the tax support policy implemented by the Ministry of Culture. Figures that will make us forget those recorded in 2020. Khalid Saidi thanks the government for having created the favorable conditions for the return of foreign investors.

Currently, Steven Spielberg is preparing to invest $30 million, or 300 million dirhams, in the filming of an American "mega-production titled Blockbuster". According to the director of the CCM, "the director only wanted to shoot for a few days, but faced with the good conditions offered to him by Morocco, he decided to produce the bulk of this new feature film in Morocco."

Khalid Saidi is delighted to have signed such a big contract, which will not only strengthen the coffers of the cinematographic center, but "will also advertise Morocco and generate other foreign productions."