According to BHD, a large movie distributor, about 40 million people in Vietnam go to cinema each year, equal to 90 percent of the figure in the pre-Covid period.

The Vietnamese film market has been growing strongly, averaging 21 percent of that of the pre-Covid-19 period. 

In 2023, Vietnam’s total box office revenue was the second largest in Southeast Asia, following Indonesia. The total population of Indonesia is 277 million, more than double Vietnam’s (100 million).

The movies with highest revenue included Bo Gia (Dad, I’m sorry, VND400 billion), Nha Ba Nu (The House of No Man, VND475 billion), Lat Mat series (Face off, VND700 billion) and Mai (VND550 billion). The figures show high demand for watching high-quality movies.

In the case of Mai, over 6.5 million tickets were sold, a record high number for Vietnam’s cinema. 

The success of movies with revenue of hundreds of billions of dong just partially reflects the current market. However, the figures help people have a more optimistic view about Vietnam’s cinema which has opportunities for development.

Analysts note that a new generation of filmmakers, directors, producers and actors has created positive value in terms of both revenue and artistic values. They are quite capable of winning the hearts of domestic audiences and introducing their products to the world market.

Many names of producers and directors have become well known recently, including Tran Thanh (Dad, I’m sorry), Ly Hai (Face off) and Vo Thanh Hoa (commercial films), Tran Thanh Huy, Ha Le Diem, Pham Thien An and Pham Ngoc Lan (independent films). They won prizes for Vietnam’s cinema at the Cannes and Berlin film festivals.

Analysts noted that among the well-known producers and directors, there are many new young faces.

The dream

Nguyen Khanh Duong, the founder of Box Office Vietnam, commented that Vietnam’s cinema industry has entered a new development period with great potential. A lot of products have failed to attract audiences to cinemas, but many other films have gained great success, thus creating a market of many colors.

How long will Vietnam’s cinema need to reach the VND1 trillion in revenue threshold? Duong said that with the current boom, the goal is within reach.

“In my opinion, Tran Thanh is now the No1 candidate. If he can continue to have good work which can satisfy audiences, he will certainly be able to climb to new highs,” he commented.

Duong emphasized the importance of building brands in cinema, and three persons are doing this well, namely Tran Thanh, Ly Hai and Vo Thanh Hoa. Their success is attributed to their ability of understanding consumers.

Of course, to turn the dream of obtaining trillions of dong in revenue into reality, Vietnam still needs more favorable conditions. For example, it needs to have more cinemas and viewers. 

Which way for Vietnam’s movies?

According to Ly Hai, some countries with cultural similarities, such as Thailand, South Korea and China, have left Vietnam far behind for tens of years. They had a long time enough to prepare in terms of labor force, resources and other factors.

Hai said there are three important factors that Vietnam’s movies need to have – good scripts, film studios, and film distribution. Of these, distribution is a difficult factor.

“Since Lat mat 4 (Face off 4), we have to go abroad to seek partners ourselves. If state management agencies support Vietnamese film producers, everything will be easier,” Hai said.

“It is necessary to create an ecosystem which allows Vietnamese films, after being screened domestically, can be introduced to the world in a professional and methodical way."

Vietnam now hosts three international film festivals, including HANIFF (Hanoi International Film Festival), DNAFF (DaNang Asian Film Festival), and HIFF (HCMC International Film Festival).

Tuan Chieu