Vietnam's Rise: Unlocking Southeast Asia's Entertainment Potential
The Golden Age of Vietnamese Entertainment
Vietnam has emerged as the leading buyer of international TV formats in Southeast Asia, capturing a remarkable 33% of the region's unscripted format acquisitions. This revelation, presented at the Taiwan Creative Content Fest, underscores Vietnam's pivotal role in shaping the entertainment landscape of the region.
A Rapidly Evolving Market
Nguyen Trang, APAC, Middle East, and Africa manager at K7 Media, emphasizes the need for format businesses to take notice of Vietnam's dynamic market. With a population of 100.9 million, Vietnam's entertainment industry is experiencing a paradigm shift. Streaming platforms are witnessing explosive growth, while traditional pay TV is on a downward trajectory. In the first half of 2025 alone, streaming subscribers surged by a staggering 33%, reaching 70 million, while pay TV subscriptions declined from 22 million to 16.5 million.
The Power of Social Media
Nguyen highlights the central role of social media in Vietnam's entertainment ecosystem. Unlike many other markets, social media is not just a supplementary channel in Vietnam; it is the primary gateway for audiences to discover, consume, and engage with content. A prime example is the viral sensation caused by a Vietnamese actor's best actor win at Taiwan's Golden Bell Awards in October. The news swept across Facebook, generating thousands of interactions from young audiences who had never even heard of the awards before.
Asia's Dominance in Unscripted Formats
Around 85% of unscripted format imports in Vietnam originate from other Asian markets. South Korea leads the pack with a 35% share, followed by China at 30%, Japan at 15%, and Thailand at 10%. Notably, Nguyen emphasizes the surge in formats originating from China. Talent shows account for 30% of unscripted adaptations, with Vietnam quickly adopting popular shows like "Sisters Who Make Waves" and its male spin-off "Call Me by Fire" from Mango TV, both produced for VTV3 by Yeah1.
The Battle for Scripted Formats
In the realm of scripted formats, South Korea dominates with a 55% market share. However, China and Taiwan are not far behind, each commanding an 18% share. Nguyen points out an intriguing dynamic: many local buyers in Vietnam view Chinese-language drama as equally important as Korean drama. This perspective challenges the traditional dominance of Korean drama in the region.
The Nostalgia Factor: Taiwanese Drama
Nguyen notes that Taiwanese drama holds a special place in the hearts of Vietnamese audiences, especially those who grew up in the early 2000s. However, she observes a shift in perception, with Taiwanese series now being perceived as catering more to an older housewife audience, primarily through long-running family series. Despite this, Nguyen highlights a significant opportunity, as there is a growing demand for Taiwanese drama beyond these traditional family series, particularly among younger audiences. She cites "Someday or One Day" as a prime example, gaining strong traction on Vietnamese social media.
The Cinema Sector: Steady Growth
Vietnam's cinema sector has experienced consistent 10% year-on-year growth since the 2010s. The number of screens has expanded from a mere 90 in 2010 to over 1,200 today. Korean-owned CJ CGV is the largest chain in the country. Nguyen highlights the success of "Red Rain," a historical war film that quickly became the highest-grossing film in Vietnam. She notes that the film attracted grandparents to cinemas, representing a new growth segment for the industry.
A Diverse Television Ecosystem
Vietnam's television ecosystem is diverse, comprising free-to-air networks, pay TV services such as VTVcab and K+, and joint ventures like SCTV with Canal+ France. Local VOD platforms like FPT Play, VieON, and TV360 compete with global giants Netflix, WeTV, and iQiyi. Production companies VFC and M&T Pictures by DatVietVAC have emerged as key players in this landscape.
Co-production and Format Adaptation
Co-production is a common practice in Vietnam, and format adaptation often goes beyond simple sell-and-buy transactions, especially when collaborating with Korean companies. Nguyen points to opportunities in production services, noting that over 60% of local studios participate in global VFX and animation projects.
Economic Outlook: A Bright Future
Vietnam's economic growth is impressive, with a 7.09% GDP growth rate and a 2025 target of 8.3-8.5%. McKinsey & Company recognizes Vietnam as Southeast Asia's best-performing economy during the first quarter of 2025. With its large population, rising economy, and increasingly sophisticated audiences, Vietnam is a market that cannot be ignored. The demand for both local and international premium content across multiple platforms is driving the entertainment industry's growth in Vietnam.
And this is the part most people miss...
The potential for collaboration and co-production in Vietnam offers a unique opportunity for international players to tap into a rapidly evolving market. But here's where it gets controversial: with the
