COMPETITIVENESS FROM DOMESTIC FILMS
According to data from Box Office Vietnam, in the first six months of 2025, the domestic box office (with 19 Vietnamese films among 130 released) generated 3,017 billion VND, an increase of nearly 270 billion VND compared to the same period last year, and is projected to surpass 110 million USD by 2029. Film importers are also expanding their market share by diversifying film genres and content to meet the tastes of Vietnamese audiences. Films from South Korea, Japan, and Thailand currently have a stable audience.
Foreign films will be released in Vietnamese theaters starting in July. Among them, Conan Movie 28: The Shadow of a One-Eyed Man has grossed 50 billion VND; Jurassic World : Reborn has grossed 42 billion VND; and Superman (2025) has grossed 22 billion VND.
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Commenting on the film import market, film critic Nguyen Phong Viet believes that because the number of Vietnamese films screened is still limited, imported films naturally account for a large proportion of the film market in Vietnam. Many theaters in Vietnam also handle distribution, and there are numerous companies importing foreign films. Therefore, importing films is essential to create a diverse "menu" for audiences to experience, as well as to maintain the habit of going to the cinema.
In fact, some film importers believe that one of the biggest challenges today is the strong competition from domestic films. Since the beginning of the year, eight Vietnamese films have grossed over 100 billion VND, with the six highest-grossing films being: The Four Villains (332 billion VND) , Detective Kien: The Headless Case (249 billion VND) , The Ancestral House (242 billion VND), Flip Face 8: The Embrace of the Sun (232 billion VND), The Billion-Dollar Kiss (211 billion VND) , and Underground: The Sun in the Darkness (172 billion VND). These films not only attract audiences but also shape taste, forcing imported films to "divide" the market share, as director Vu Thanh Vinh of Khang Media, a film import company, commented: "Vietnamese films are winning, Vietnamese audiences love Vietnamese films, so importing films without careful planning can easily lead to losses."
Another obstacle is the ever-increasing cost of licensing rights. The rush to acquire these rights has driven up import prices by three to four times compared to the initial asking price. Furthermore, advertising and marketing costs are also substantial if a film is to be successful in theaters. If box office revenue falls short of expectations, the large investment in licensing and marketing could result in significant losses for the distributor.
Another risk is that Vietnamese audience tastes don't always align with international audiences. Many international blockbusters have failed to achieve box office success in Vietnam, such as *Snow White*, *Mickey 17* , and some recent Asian films like *Love for Money, Crazy for Love*, *My Bear*, etc.
A clear strategy is needed.
The growth in revenue of the Vietnamese cinema market presents opportunities, but importers need a clear strategy. Film selection should be based on a specific analysis of the Vietnamese market, rather than simply relying on international brands. Lighthearted films that resonate with audiences, such as family films, romances, and mild horror, generally carry a lower risk compared to blockbuster hits.
"When importing films, we definitely have to consider audience preferences and select the right segment. This means choosing films that appeal to Vietnamese audiences, like the recent films from Thailand and South Korea. Previously, American films were popular, but now they're facing difficulties in the Vietnamese market because audiences don't seem to like action, special effects, etc. anymore. Now they prefer Thai and Korean films because they're more relatable and engaging," director Vu Thanh Vinh commented.
Further elaborating on solutions for expanding and surviving in the film import market, a representative from Khang Media stated that participating in film fairs reveals that films that want to sell well must have compelling content, coupled with star power to guarantee revenue; or series where a successful first part leads to anticipated sequels. "This is a unique business field, and business always involves risk. If you buy 10 films, and 3-5 of them are profitable, 1-2 break even, and the rest are losses, but if you calculate the total import revenue of all 10 films, you still make a profit, it's like accepting a loss in one battle but winning the war," director Vu Thanh Vinh further analyzed.
Regarding the recent lackluster box office performance of many imported films, director Vu Thanh Vinh believes that some films are already appealing and have great potential to attract audiences, while others require marketing and strategies to expand their target audience. Furthermore, audiences now have many ways to access and watch films on various platforms, so film importers must carefully consider their options.
"Each film import company has a team that is evaluated from many aspects and bears a personal imprint. This means that the quality of imported films depends on the assessment of that company and must accept the element of 'luck'. However, film importers will obtain data from distributors regarding audience metrics, age groups, markets, etc., to help them understand and decide whether or not to import a film," Mr. Nguyen Phong Viet shared.
In the context of the strong rise of Vietnamese cinema, importing foreign films requires careful selection, flexibility to suit audience tastes, and systematic investment in media if one does not want to be "knocked out" of theaters.
Source: https://thanhnien.vn/thach-thuc-cua-thi-truong-phim-nhap-khau-185250722225719903.htm
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