In the first five months of 2026, Vietnamese films accounted for 70.6% of the domestic box office, up from 62.2% in 2025 and 42.6% in 2023, according to figures announced by Dinh Thanh Phuong, executive chairman of Galaxy Studios and CEO of Galaxy Entertainment Holding, at the first Danav Industry Days in Da Nang, Vietnam.
Speaking at Furama Resort, Dinh delivered the opening keynote address of the two-day industry program accompanying the 4th Da Nang Asian Film Festival. The presentation, titled “Vietnam: From Emerging Market to Cinematic Nation,” framed the data as evidence that Vietnamese cinema has moved beyond the “potential” stage and entered a period of commercial and creative maturity.
In 2025, the market saw more than 70 million tickets sold and total box office revenue of more than $215 million, an increase of 22.5% year-on-year, with 47 Vietnamese titles released in the same year, up from 26 in 2024. Ding attributes part of the jump in market share to a generational shift in audiences. He said 69% of moviegoers in Vietnam are from Gen Z, and 72.8% of tickets are now purchased digitally. The platform allows word of mouth to determine the success or failure of a title.
Production budgets are also increasing at the same time. In 2023, the price of major local projects was VND40 billion to VND50 billion ($1.52 billion to $1.9 million), but the market is now seeing productions with budgets of VND100 billion to VND130 billion ($3.8 million to $4.9 million) or more, Dinh said. He predicted that the total production of Vietnamese films will reach 80 titles by 2027, up from 47 titles last year, with production, distribution and marketing budgets exceeding $5 million per film.
Diversification of genres has been cited as a major factor in audience expansion. Ding noted that the market has moved beyond its historical reliance on comedies and family films, pointing to the country’s established strength in horror, as well as recent commercial performance in the war, action, history and detective genres.
The keynote speech also served as a pitch to international buyers and distributors gathered at Industry Days, which runs from June 30th to July 1st, alongside the broader festival. Mr Ding outlined five areas he hopes to develop with overseas partners: co-production, financial investment, distribution and marketing, technology and innovation, and intellectual property development.
“Movies are not just a business,” Ding said. “Cinema is a way for a nation to tell its own story.”
Galaxy Studios, whose credits include Dreamy Eyes, You and Trinh, Bunny!!, Headless Horror and the record-breaking war epic Red Rain, is Sony Pictures’ partner in Vietnam and operates more than 30 cinema complexes across the country.
Danav Industry Days, a new initiative launched by the Da Nang Asian Film Festival and the Vietnam Film Development Association, will bring together Vietnamese studios including Galaxy Studios, BHD Vietnam Media Corporation, Mockingbird Pictures, CJ HK Entertainment and Production Q, as well as international distributors and buyers from South Korea, Japan, Thailand, Indonesia, Cambodia, Singapore, the Philippines, Taiwan and the United States, for lineup presentations and one-on-one business meetings.
