The Numbers That Changed Everything
On a humid evening in Danang, at the inaugural DANAFF Industry Days, Dinh Thanh Huong stepped onto the stage and revealed numbers that sent shockwaves through the Asian film industry.
70.6%.
That was the share of the domestic box office captured by Vietnamese films in the first five months of 2026. To put that number in perspective, just three years earlier, in 2023, Vietnamese films held a mere 42.6% of their home market. The share rose to 62.2% in 2025 — and now, in 2026, it has surged past the 70% mark.
The numbers tell a story of extraordinary growth. In 2025, the Vietnamese box office generated gross revenue exceeding $215 million — a 22.5% year-on-year increase — on sales of more than 70 million tickets. Productivity has soared as well: 47 local films were released in 2025, up significantly from just 26 in 2024.
The trajectory suggests that the Vietnamese market is not merely growing — it is maturing at an unprecedented pace. Dinh projected that Vietnamese film productivity will continue to climb, reaching 80 film titles by 2027. Combined production, distribution, and marketing budgets are expected to surpass VND89 billion (approximately $3.4 million) per film.
The Architect of a Revolution: Dinh Thanh Huong
Behind these numbers stands a woman whose name has become synonymous with Vietnamese cinema's renaissance. Dinh Thanh Huong is the Executive Chair of Galaxy Studio and CEO of Galaxy Entertainment Holding — the powerhouse behind some of Vietnam's biggest cinematic successes.
Dinh's journey to the top of Vietnam's film industry is a story of vision, resilience, and an unwavering belief in the power of local storytelling. Under her leadership, Galaxy Studio has not only produced commercially successful films but has also invested heavily in infrastructure, talent development, and international partnerships.
The results speak for themselves. Galaxy Studio's portfolio includes films that have broken box office records, won critical acclaim, and captured the imagination of a generation of Vietnamese moviegoers. But Dinh is not content to rest on past achievements. Her keynote at the DANAFF Industry Days outlined a bold vision for the future — one that positions Vietnam as a global player in the film industry.
The Demographic Shift: Gen Z Takes Over
One of the most significant factors driving Vietnamese cinema's success is a profound demographic shift. According to Dinh's presentation, approximately 69% of Vietnamese moviegoers are Gen Z — a digitally native generation that consumes content differently from their parents.
This generation has grown up with smartphones, streaming platforms, and social media. They are accustomed to on-demand content, personalised recommendations, and instant gratification. Their expectations of cinema are different: they want experiences that are immersive, visually stunning, and culturally relevant.
Vietnamese filmmakers have responded to this shift with remarkable agility. The films that have dominated the box office in recent years are those that speak directly to Gen Z sensibilities — visually bold, thematically contemporary, and often blending genres in unexpected ways.
The rise of digital ticketing reflects this generational shift. Dinh revealed that 72.8% of tickets are now purchased through digital platforms, reflecting the increasing integration of technology into the cinema experience. This digital adoption has not only made it easier for young audiences to book tickets but has also provided filmmakers and exhibitors with valuable data on audience preferences and behaviour.
The Budget Revolution: From VND40 Billion to VND130 Billion
Perhaps the most striking indicator of Vietnamese cinema's transformation is the dramatic increase in production budgets. Dinh revealed that large-scale Vietnamese films that cost between VND40-50 billion ($1.52-1.9 million) in 2023 now command budgets ranging from VND100-130 billion ($3.8-4.9 million) and above.
This tripling of production budgets represents a fundamental shift in how Vietnamese films are conceived and executed. Higher budgets allow for better production values, more sophisticated visual effects, and the ability to attract top talent both in front of and behind the camera.
The investment is paying off. Vietnamese films are now competing head-to-head with Hollywood blockbusters in terms of production quality, and audiences are responding. The 70.6% domestic market share is not just a statistic — it is a testament to the fact that Vietnamese audiences are choosing local films over international releases.
From Comedy to Diversity: The Genre Revolution
Historically, Vietnamese cinema has been heavily dependent on comedies and family dramas. These genres have consistently performed well at the box office, but they have also limited the industry's growth potential.
Dinh emphasised the importance of genre diversification as a key driver of the industry's success. The Vietnamese market is now embracing a wider range of genres — horror, thriller, romance, historical epics, and action films are all finding audiences. This diversification has expanded the market and attracted new segments of moviegoers who may not have been interested in traditional Vietnamese cinema.
The success of genre diversification is reflected in the numbers. By offering a broader slate of films, Vietnamese producers have been able to appeal to a wider audience and capture a larger share of the box office. The 70.6% market share is not a fluke — it is the result of a deliberate strategy to make Vietnamese cinema more diverse, more ambitious, and more competitive.
The Global Ambition: Co-Production, Investment, and IP
Dinh's vision for Vietnamese cinema extends far beyond the domestic market. In her keynote, she outlined five areas for international collaboration that could propel Vietnamese cinema to the global stage:
Co-production: Partnering with international studios to produce films that appeal to both domestic and international audiences.
Financial investment: Attracting foreign capital to support ambitious Vietnamese productions and infrastructure development.
Distribution and marketing: Building international distribution networks to bring Vietnamese films to audiences around the world.
Technology and innovation: Adopting cutting-edge technologies — including AI, VFX, and premium formats — to enhance production quality and audience experience.
IP development: Building intellectual property that can be adapted across multiple platforms and markets.
Dinh's message to the global film community was clear and compelling: Vietnam is no longer an emerging market — it is a mature cinematic force ready for partnership. The numbers support her claim. With a 70% domestic market share, a growing production infrastructure, and a young, digitally native audience, Vietnam offers a compelling opportunity for international co-productions and investments.
Galaxy Entertainment Holding: The Engine Behind the Revolution
At the centre of Vietnam's cinematic transformation is Galaxy Entertainment Holding, the parent company of Galaxy Studio. Under Dinh's leadership, Galaxy Entertainment has become the dominant player in Vietnamese cinema, with interests spanning production, distribution, exhibition, and talent management.
The company's success is built on a vertically integrated model that allows it to control every aspect of the film value chain. This integration provides Galaxy with a competitive advantage — it can greenlight projects, secure financing, manage production, and oversee distribution and exhibition without relying on external partners.
Galaxy Studio's portfolio includes some of the biggest hits in Vietnamese cinema history. The studio has also invested heavily in infrastructure, including state-of-the-art production facilities and a network of cinemas across the country. This vertical integration has enabled Galaxy to capture a larger share of the box office and build a sustainable business model.
The Role of Technology in Vietnam's Cinematic Renaissance
Technology has been a critical enabler of Vietnamese cinema's growth. Dinh highlighted several technological advancements that have contributed to the industry's success:
Digital distribution: The shift to digital platforms has expanded the reach of Vietnamese films, making them accessible to audiences in remote areas and abroad.
VFX and post-production: Investments in visual effects and post-production facilities have enabled Vietnamese filmmakers to produce films that can compete with Hollywood in terms of visual quality.
Digital marketing: Social media and digital marketing have allowed Vietnamese films to build buzz and engage with audiences in ways that were not possible a decade ago.
Data analytics: The rise of digital ticketing has provided filmmakers and exhibitors with valuable data on audience preferences, enabling more targeted marketing and programming decisions.
Looking ahead, Dinh sees AI and other emerging technologies as key drivers of future growth. Vietnamese filmmakers are already experimenting with generative AI for visual effects, scriptwriting, and pre-visualisation, and the industry is poised to adopt these technologies at scale.
The Challenge of Sustainability
Despite its remarkable success, the Vietnamese film industry faces significant challenges. The dramatic increase in production budgets has raised the financial stakes for producers. A single underperforming film can now result in losses of tens of billions of dong, putting pressure on studios to consistently deliver hits.
The industry also faces challenges in talent development. As production budgets have increased, the demand for skilled professionals — directors, cinematographers, VFX artists, and post-production specialists — has outpaced supply. Developing a robust talent pipeline is essential for sustaining the industry's growth.
Dinh acknowledged these challenges in her keynote and outlined strategies for addressing them. Investment in training and education, international partnerships for skills transfer, and the development of industry standards and best practices are all part of Galaxy's long-term strategy.
What This Means for the Global Film Industry
Vietnam's cinematic revolution has implications that extend far beyond its borders. For international studios, the Vietnamese market offers a growing audience with a demonstrated appetite for local content. Co-productions with Vietnamese partners can provide access to this market while also benefiting from lower production costs and talented local crews.
For streaming platforms, Vietnam represents a significant opportunity for content acquisition and original production. The country's young, digitally native population is a prime audience for streaming content, and the success of Vietnamese films at the domestic box office suggests that there is strong demand for local-language content.
For the Asian film industry as a whole, Vietnam's success is a proof of concept. It demonstrates that local-language films can compete with Hollywood releases in terms of quality and commercial performance, and that investment in infrastructure, talent, and technology can yield substantial returns.
The Human Story: Cinema as a Nation's Voice
Amidst the numbers and strategies, Dinh's most powerful message was a human one. "Cinema is not just a business," she has been quoted as saying. "Cinema is how a nation tells its own story" .
This sentiment captures the essence of Vietnam's cinematic revolution. The 70.6% market share is not just a commercial achievement — it is a cultural one. It reflects a nation that is confident in its own stories, proud of its own filmmakers, and eager to share its culture with the world.
The films that have driven Vietnam's box office surge are not just entertaining — they are expressions of Vietnamese identity. They explore Vietnamese history, culture, and contemporary life in ways that resonate with audiences. They are stories that could only be told by Vietnamese filmmakers, for Vietnamese audiences.
The Future: 80 Films and Beyond
Looking ahead, Dinh's projections for the Vietnamese film industry are ambitious but grounded in the evidence of recent years. The target of 80 film titles by 2027 reflects the industry's confidence in its ability to sustain and accelerate its growth.
The path to 80 films will require continued investment in infrastructure, talent, and technology. It will require international partnerships and the development of intellectual property that can travel beyond Vietnam's borders. And it will require the unwavering commitment of the industry's leaders — including Dinh herself — to the vision of Vietnamese cinema as a global force.
If the past three years are any indication, the future is bright. Vietnamese cinema has proven that it can compete with the best in the world, and it has only just begun to realise its potential.
Conclusion: A New Chapter in Asian Cinema
The story of Vietnam's cinematic revolution is one of the most remarkable in the global film industry today. In just three years, the country has transformed its film industry from a small, dependent market to a vibrant, self-sufficient powerhouse with a 70% domestic market share.
At the heart of this transformation is Dinh Thanh Huong — a woman who has not only led a company but has also inspired a generation of Vietnamese filmmakers and audiences. Her vision of a globally competitive Vietnamese cinema is becoming a reality, and her leadership has set a standard for the industry.
As Vietnam continues to produce more films, invest in technology, and build international partnerships, its influence on the Asian film industry will only grow. The numbers are impressive — 70.6% market share, $215 million in revenue, 70 million tickets sold — but they are only part of the story. The real story is one of cultural confidence, creative ambition, and the belief that cinema is not just entertainment but a nation's voice.
"Cinema is how a nation tells its own story." For Vietnam, that story is just beginning.
