Vietnam’s film industry is still in a developing phase, characterised by a mix of challenges and opportunities. Historically, the industry has been dominated by government-produced films with limited private investment. While there has been a slow but steady increase in the number of commercially-oriented films, the market remains relatively small compared to other Southeast Asian countries.
Key issues such as limited budgets, insufficient infrastructure, and a lack of skilled professionals have hindered the growth of Vietnam’s cinema sector. However, there is potential for growth as young filmmakers experiment with new genres and storytelling techniques, and the government is gradually opening the industry to more private and international collaborations. Despite these hurdles, the passion and creativity of Vietnamese filmmakers continue to drive the industry forward, paving the way for future development and recognition.
Vietnam’s Law on Cinema
The Law on Cinema 2022 of Vietnam is a legislative framework designed to regulate and promote the development of the cinema industry. It replaces the previous cinema law and introduces several updates to reflect modern industry practices and address challenges posed by digitalization.
Key provisions of the law focus on improving the management of film production, distribution, and exhibition, ensuring both domestic and foreign films meet ethical and cultural standards. It emphasises the importance of protecting national identity while fostering creativity. The law also regulates the classification of films by age, strengthens copyright protection, and sets out rules for co-production between Vietnamese and foreign filmmakers.
Additionally, the Law on Cinema 2022 promotes the export of Vietnamese films, supports film festivals, and facilitates international cooperation in the industry. It aims to enhance Vietnam’s competitiveness in the global film market while ensuring that content adheres to the country’s socio-cultural values and national security interests.
Vietnam’s film industry in numbers
Vietnam’s Cinema Tickets market is poised for moderate growth, with projected revenue reaching US$17.86 million in 2024. The market is expected to expand at a compound annual growth rate of 3.29 percent from 2024 to 2028, resulting in a projected market volume of US$20.33 million by 2028, according to data collated by Statista.
Key players in Vietnam’s film industry
Vietnam’s film industry features a mix of established studios, independent filmmakers, and emerging production companies that contribute to the diverse cinematic landscape. Key players in the industry include:
Vietnam Feature Film Studio (VFS)
Vietnam Feature Film Studio (VFS) is one of the oldest and most prominent state-owned film production companies in the country. Established in 1953, VFS has produced numerous classic films that focus on historical and cultural themes. Although its influence has waned in recent years due to competition from private studios, VFS remains an important institution in Vietnam’s cinematic history and continues to produce films that reflect the nation’s cultural identity.
Galaxy Studio
Galaxy Studio is a leading private film production and distribution company in Vietnam. Known for producing and distributing popular commercial films, Galaxy has contributed significantly to the growth of the local cinema market. The company is involved in all aspects of the film industry, from production to marketing and distribution, and operates a network of cinemas across the country under the Galaxy Cinema brand.
CJ CGV Vietnam
CJ CGV, a subsidiary of the South Korean conglomerate CJ Group, is one of the largest cinema chains and film distributors in Vietnam. CJ CGV has played a crucial role in shaping the local film industry by bringing international production standards to Vietnamese filmmaking. The company supports local talent through its “CJ Short Film Project” and actively invests in the production of Vietnamese films, helping to elevate the quality and visibility of Vietnamese cinema both locally and internationally.
BHD (Vietnam Media Corp)
BHD, or Vietnam Media Corp, is a prominent media and entertainment company that operates in film production, television, and event management. BHD is known for producing a wide range of films, from commercial blockbusters to art-house cinema, and has been instrumental in promoting Vietnamese films at international film festivals. The company also runs BHD Star Cineplex, a popular cinema chain that screens both local and international films.
VAA (Vietnam Artist Agency)
Founded by renowned actor and producer Ngo Thanh Van, VAA focuses on developing and managing talent in the film industry as well as producing high-quality films. VAA has been behind several successful productions, such as “Furie” (Hai Phượng), which gained international recognition. The company aims to foster a new generation of Vietnamese filmmakers and actors, contributing to the growth and professionalism of the industry.
Ngo Thanh Van
Ngo Thanh Van is a leading figure in the Vietnamese film industry, known both as an actress and a producer. Her production company, Studio68, has produced several successful films, including action and drama genres, and she is committed to creating content that resonates with both local and international audiences. Her work has helped raise the profile of Vietnamese cinema and showcased the potential of local talent.
Lotte Entertainment Vietnam
Lotte Entertainment, part of the South Korean Lotte Group, has become a significant player in the Vietnamese film industry. It operates both as a film producer and distributor, and it owns the Lotte Cinema chain. Lotte Entertainment focuses on co-producing films with local filmmakers, contributing to the diversification and modernization of Vietnamese cinema.
These key players are shaping the landscape of Vietnam’s film industry, contributing to its growth and increasing its visibility on the global stage. Their involvement spans various aspects of filmmaking, from production and distribution to talent development and international collaboration, ensuring that Vietnamese cinema continues to evolve and reach broader audiences.
Consumer behaviour in Vietnam’s film industry
Consumer behaviour in Vietnam’s film industry has evolved significantly in recent years, driven by changing demographics, increasing disposable incomes, and greater exposure to global media. These factors have contributed to the diversification of audience preferences and an increase in cinema attendance, shaping the direction of the industry.
Rising Demand for Local Content: Vietnamese audiences have shown a growing preference for local films that reflect their culture, humour, and social issues. Movies that depict contemporary Vietnamese life, folklore, or historical events tend to resonate well. Successful local productions such as “Hai Phượng” (Furie) and “Bố Già” (Dad, I’m Sorry) have demonstrated that there is substantial demand for high-quality Vietnamese films, encouraging filmmakers to invest more in production values and storytelling.
Interest in International Blockbusters: While local films are gaining popularity, international blockbusters, particularly from Hollywood and South Korea, continue to attract large audiences. The Vietnamese market has a strong appetite for action-packed, visually appealing genres such as superhero movies, sci-fi, and animated features. These films often perform well in urban centres where cinema infrastructure is more developed, and audiences have higher spending power.
Shift to Modern Cinematic Experiences: As Vietnam’s cinema infrastructure has modernised, with more multiplexes offering premium viewing experiences, consumer expectations have also evolved. Audiences increasingly seek out cinemas that provide amenities like comfortable seating, high-quality audio-visual systems, and a diverse range of food and beverage options. There is also a growing trend towards specialised screenings, such as IMAX or 4DX, catering to a desire for unique, immersive viewing experiences.
Impact of Digital Platforms: The rise of digital streaming platforms has influenced consumer behaviour in the film industry. While cinema attendance remains strong, particularly for new releases, many consumers are turning to platforms like Netflix, FPT Play, and VieON for convenience and access to a wide variety of films and series. This shift has encouraged traditional film distributors and cinemas to innovate their offerings, such as hosting exclusive premieres and special events, to draw audiences back to theatres.
Family-Oriented and Youth Segments: Cinema remains a popular entertainment choice for families and young people in Vietnam. Family-friendly films and animated features often attract large groups, particularly during weekends and holidays. The youth demographic, which is tech-savvy and open to diverse genres, is a key driver for the film industry. They are also highly active on social media, influencing the popularity and success of films through online reviews and discussions.
Preference for Convenient Booking and Payment: With the increasing use of smartphones and digital payment options, consumers in Vietnam prefer using online platforms for booking tickets and making payments. Mobile apps and websites of major cinema chains like CGV, Lotte Cinema, and Galaxy Cinema offer promotions, loyalty programs, and easy booking options, enhancing the overall consumer experience.
Overall, consumer behaviour in Vietnam’s film industry is characterised by a blend of traditional cinema-going habits and modern preferences for convenience, quality, and diverse content. As the industry continues to grow and adapt to these trends, filmmakers and distributors will need to remain responsive to the evolving tastes and expectations of Vietnamese audiences.
What’s next for Vietnam’s film industry?
Vietnam’s film industry is poised for significant growth and transformation in the coming years. Several key developments and trends are likely to shape the future of the industry, driven by evolving consumer preferences, technological advancements, and increasing international collaborations.
Notably, Vietnam is an emerging market and a very dynamic one at that. With this in mind, the business environment, including for the film industry, can change quickly and with this in mind, foreign filmmakers considering making films in Vietnam, can best keep up to date with said changes by subscribing to the-shiv.