Rival Threatens Vietnam’s Film Industry Stability

Vietnam’s film industry faces significant challenges as foreign films dominate the market. However, expectations for domestic films remain amid increasing competition.

Rival Threatens Vietnam’s Film Industry Stability

The Vietnamese film sector recently reported a total revenue of approximately 95 billion VND at the beginning of December 2023. This figure was significantly impacted by the arrival of international releases, particularly animated films.

Box Office Highlights

Disney’s “Zootopia: Phi vụ động trời 2” surpassed other films with a notable 59.1 billion VND in its opening week, translating to 588,205 tickets sold across 10,087 screenings. The film has generated a staggering global revenue of 156 million USD, marking it as one of the strongest animated releases of 2023.

• International Releases:
  • “Zootopia: Phi vụ động trời 2” – 59.1 billion VND.
  • “Chú thuật hồi chiến: Biến cố Shibuya x Tử diệt hồi du – The Movie” – 1.72 billion VND.
  • “Năm đêm kinh hoàng 2” – 1.48 billion VND.
• Top Domestic Performers:
  • “Hoàng tử quỷ” – 13.31 billion VND in its opening weekend.
  • “Quán Kỳ Nam” – 3.49 billion VND to date.
  • “Phòng trọ ma bầu” – 6.8 billion VND overall.

Domestic Films Struggle

Despite receiving critical acclaim, local productions like “Quán Kỳ Nam” and “Phòng trọ ma bầu” continue to struggle against international competitors. “Quán Kỳ Nam” earned merely 1.01 billion VND during a recent week, falling short of market expectations.

Other Vietnamese films, including “Cưới vợ cho cha,” recorded disappointing earnings, with total revenue of only 9.04 billion VND. The overcrowded market further complicates prospects for domestic films as audiences flock to major international titles.

Future Projections

The upcoming week will see nine new film releases, including the Vietnamese productions “Thế hệ kỳ tích” and “Chân trời rực rỡ.” However, analysts predict that these films will struggle to generate substantial revenue due to the strong competition posed by the dominant “Zootopia” and “Hoàng tử quỷ.”

Despite the new releases, the overall expectations for box office revenue remain low as the market adjusts to the overwhelming presence of foreign films. The Vietnamese film industry will need to innovate and adapt to reclaim its stability amid this fierce competition.