What do you see when a series of Vietnamese films continuously earn hundreds of billions?

Vietnamese cinema in the first half of 2025 has made a spectacular breakthrough with a series of works worth hundreds of billions of VND. But behind the revenue increase are questions about quality and sustainability.

A year ago, the domestic market was still in a fierce phase, when the number of loss-making films was even twice as high as the number of profitable works. That situation made many directors, producers, and investors hesitate.

But less than 12 months later, the box office picture has almost completely reversed. In just the first 5 months of the year, Vietnamese cinema has had 9 works reaching the 100 billion mark - a number twice as high as the total of all of 2024 combined.

However, according to experts, the above rapid growth actually comes from many objective factors. Internally, the quality of domestic works has not improved much compared to previous years.

The commercial picture of Vietnamese cinema is improving

In terms of the number of works reaching the hundred billion mark, there were 9 projects in the first half of 2025, three times more than the same period last year. However, when taking into account the actual amount earned, the total revenue in the first half of 2025 is around 1,900 billion VND , only 26.9% increase compared to the first half of 2024 (about 1,500 billion VND ).

It is easy to see some paradoxes from the above numbers, when the number of hundred billion dong films increased dramatically but the revenue growth was not as outstanding. The reason is that the Vietnamese film scene last year was dominated by two names - Ly Hai and Tran Thanh.

In the first half of 2024, 1,500 billion in revenue, Tomorrow ( 551 billion VND ) and Flip Side 7 ( 435 billion VND ), accounting for more than 65%. The remaining small market share was divided among 8 other names. Of which, 7/10 works fell into a state of loss, with many projects leaving theaters just a few days after their release. Even, Fragile flower Mai Thu Huyen's film only earned over 400 million VND. The difference between the highest and lowest grossing films is about 1,000 times.

This time last year, Vietnamese cinema witnessed a series of loss-making productions.

From there, the number 1,500 billion VND At that time, it was difficult to accurately reflect the difficult situation of Vietnamese commercial films. At that time, director Nguyen Quang Dung once said that in Vietnam, if you are not in the top 3 leading directors, it is quite difficult to survive. Meanwhile, director Khoa Nguyen shared with Knowledge - Znews that if the situation continues, he is worried that in 3 to 5 years, there will be no new directors or producers in the commercial film sector.

Not only in 2024, the rate of Vietnamese films losing money in previous years has always been alarming. For example, in 2022, up to 28/38 projects could not recover capital, many films suffered heavy losses. Furthermore, in the period 2019-2021, according to statistics from Box Office Vietnam , up to 54/74 Vietnamese films fell into a state of loss, accounting for 73%.

In contrast to the gloomy figures mentioned above, 2025 witnessed an almost completely different appearance of Vietnamese commercial films. Not only did it record relatively positive growth, but 1,900 billion VND Revenue in the first half of the year was also evenly distributed, with no film outperforming the rest.

With revenue 332 billion VND , The Guardian Quartet Tran Thanh's is still temporarily the leading name at the Vietnamese box office in 2025. However, the male director no longer creates an overwhelming gap like a year ago. The competitors behind him are respectively Ancestral home ( 241 billion VND ), Detective Kien ( 239 billion VND ), Flip Side 8 ( 226 billion VND ) and Billionaire Kiss ( 211 billion VND )...

Of the 12 commercial films released in the first half of 2025 (excluding documentaries and art films), 10 were big winners or broke even – equivalent to 83%. Yin and Yang Road and Love the wrong best friend are two rare works that are likely to lose money. This rate is much higher than the same period last year, when only 3/10 films released in the first half of 2024 made a profit (30%).

The reason why Vietnamese movies continuously earn hundreds of billions

Talk to Tri Thuc - Znews , director/producer Nguyen Huu Tuan said that the shift in audience going to theaters is the reason why Vietnamese films have seen rapid revenue growth in recent times.

He explained: “The audience for movies is changing dramatically. In the past, most of them lived in big cities, and they often watched Hollywood movies. That’s why the revenue of foreign movies used to overwhelm Vietnamese movies. But now, because there are many other forms of entertainment in the city, Hollywood movies are also on the decline, so viewers tend to go to the cinema less.

On the contrary, in the provinces, access to cinemas is becoming more convenient and popular. The movie-going habits of provincial audiences have also begun to develop strongly. They are more familiar with Vietnamese films. Thanks to that, the revenue of Vietnamese films has increased rapidly.

9/12 commercial films released in early 2025 reached the hundred billion mark.

Similarly, Ms. Ngo Bich Hanh - Vice President of BHD - shared with Knowledge - Znews that in big cities, people no longer consider watching movies in theaters as a top priority. On the contrary, in provincial areas and satellite cities, the number of customers recorded significant growth, and they are audiences who love Vietnamese movies.

But for her, the more important reason is that Hollywood is clearly losing its power. “In many countries, local cinema is gradually taking over the space left by Hollywood. Vietnam is no exception to that trend,” Ms. Hanh said.

Not to mention, Ngo Bich Hanh also pointed out that during this period, many other major film industries are also facing difficulties. Last year, Hong Kong cinema only produced about 15% of the number of films compared to its peak period. In Korea, in 2024 and early 2025, the number of new films was quite low, and large-scale projects became scarce. In that context, Vietnamese filmmakers knew how to seize the opportunity.

“The Vietnamese film market has recently seen the emergence of many projects with large investments and well-planned implementation,” she said.

Sharing the same view, producer Nguyen Cao Tung also believes that the biggest factor affecting Vietnamese film revenue today is the decline of foreign film markets. He analyzed: “Hollywood films are weak, Korean films are also showing signs of slowing down. Other forms of entertainment such as game shows, television or theater are no longer as attractive as before.”

“When purchasing power returns to Vietnamese films, well-prepared and well-invested projects will have a higher probability of achieving revenue. That is why recently the market has seen more and more films reaching the hundred billion mark,” the producer concluded.

When asked whether the recent growth is just a phenomenon, or a real sign that Vietnamese cinema is developing effectively, Nguyen Huu Tuan commented that the quality of Vietnamese films has not increased, but even shows signs of regressing.

"In fact, this is understandable when Vietnamese cinemas are receiving a new audience that has not had much experience enjoying movies before. To meet the needs of this audience group, movies cannot be too complicated. If the movie is too difficult to understand, no one will watch it, and failure is likely to happen. Thailand is also in a similar situation. That is why Vietnamese movies have been stuck in a few specific genres recently," the director commented.

Vietnamese cinema benefits from Hollywood's decline.

With the same question, Ngo Bich Hanh said that it is very difficult to confirm the future of Vietnamese cinema. However, she emphasized that the current time is an important turning point for the industry.

“This is a crucial moment to answer this question. If filmmakers make every effort, the government has specific support policies, and the positive reception from Vietnamese audiences, the country's cinema will have the momentum to develop strongly,” the BHD vice president concluded.

Source: https://baoquangninh.vn/thay-gi-khi-hang-loat-phim-viet-lien-tiep-thu-tram-ty-3359858.html