Vietnam is now the undisputed champion of TV format buying in Southeast Asia! A staggering 33% of all unscripted format acquisitions in the region are happening right there. If you're in the business of creating and selling TV formats, this is a market you absolutely cannot afford to ignore.
That's according to recent data presented at the Taiwan Creative Content Fest (TCCF), where K7 Media's APAC, Middle East, and Africa manager, Nguyen Trang, delivered a compelling presentation titled "Navigating Vietnam’s Film and TV Market: Trends and Insight." Her message was clear: Vietnam's entertainment landscape is evolving at breakneck speed, and the opportunities for international content creators are enormous.
One of the most significant shifts Trang highlighted is the explosive growth of streaming platforms. Get this: in the first half of 2025 alone, streaming subscribers in Vietnam surged by a whopping 33%, reaching a total of 70 million! At the same time, traditional pay TV is experiencing a sharp decline, with subscriptions plummeting from 22 million to just 16.5 million. This clearly indicates where Vietnamese viewers are heading for their entertainment fix.
But here's where it gets controversial... Trang emphasized that social media isn't just a side dish in Vietnam; it's the main course. "Social media isn’t just supplementary in Vietnam, it’s central to how audiences discover, consume and engage with content," she stated. For instance, when a Vietnamese actor won Best Actor at Taiwan’s Golden Bell Awards, the news exploded on Facebook, generating thousands of interactions from young viewers who had never even heard of the awards before. This suggests that social media buzz can be far more influential than traditional marketing in reaching Vietnamese audiences – a point that could spark debate among industry veterans who still rely on conventional methods.
Now, let's talk about where these formats are coming from. A massive 85% of unscripted format imports originate from other Asian markets. South Korea leads the pack with 35%, followed by China at 30%, Japan at 15%, and Thailand at 10%. And this is the part most people miss: formats from China are experiencing a surge in popularity. Talent shows dominate unscripted adaptations, accounting for 30% of the total. Vietnam has been quick to adapt successful Chinese formats like "Sisters Who Make Waves" and its male spin-off, "Call Me by Fire," both originally produced by Mango TV for VTV3 by Yeah1. These adaptations prove that Vietnamese audiences are eager to embrace content that resonates with Asian cultural sensibilities.
When it comes to scripted formats, South Korea reigns supreme, commanding 55% of the market. China and Taiwan each hold 18%. But here's another crucial insight: "What’s particularly important to note here is that Chinese language drama is seen as equally important as Korean drama by many local buyers," Nguyen said. This suggests that the perceived dominance of Korean drama might be overstated, and that Chinese-language content is a serious contender for Vietnamese viewers' attention.
Trang also touched upon the nostalgia factor of Taiwanese drama in Vietnam. She reminisced about how "Taiwanese dramas were hugely popular" in the early 2000s. However, she noted that "today, Taiwanese series are currently perceived as being pitched more towards an older housewife audience, mostly sustained through long-running family series." This presents a challenge for Taiwanese content creators looking to recapture the Vietnamese market.
Despite this perception, significant opportunity exists. "We have spotted demand for Taiwanese drama beyond these long-running family series, particularly among young audiences," Nguyen said, highlighting "Someday or One Day" as an example of a Taiwanese drama gaining "strong traction on Vietnamese social media." Several other Taiwanese dramas, including "The Only One" and "The Victim’s Game," have even made it into Netflix Vietnam’s top 10, proving that there's still a market for quality Taiwanese content.
Beyond television formats, Vietnam's cinema sector is also thriving. It has maintained a steady 10% year-on-year growth since the 2010s, expanding from nearly 90 screens in 2010 to over 1,200 today. Korean-owned CJ CGV is the largest cinema chain. Trang highlighted the success of "Red Rain," a historical war film released in September, which "quickly became the highest grossing film in the country." What's remarkable is that this film brought grandparents to cinemas – "a new growth of audiences," demonstrating the potential to attract new demographics with compelling local stories.
Vietnam's television ecosystem is diverse, featuring free-to-air networks, pay TV services like VTVcab and K+, and joint ventures such as SCTV with Canal+ France. Local VOD platforms like FPT Play, VieON, and TV360 are also gaining traction, competing with international giants like Netflix, WeTV, and iQiyi. Key production companies include VFC and M&T Pictures by DatVietVAC, which are playing an increasingly important role in shaping the local content landscape.
Furthermore, "Co-production is common in Vietnam. Format adaptation often goes beyond a straight sell-and-buy transaction, particularly with Korean companies," Nguyen said. This suggests that building strong partnerships with local production houses is crucial for success in the Vietnamese market. She also pointed to opportunities in production services, noting that over 60% of local studios participate in global VFX and animation projects, indicating a skilled workforce and competitive production costs.
Finally, let's not forget about Vietnam's impressive economic growth. The country posted a 7.09% GDP growth and has a 2025 target of 8.3-8.5%. According to McKinsey & Company, Vietnam is recognized as Southeast Asia’s best-performing economy during the first quarter of 2025. This economic dynamism is fueling demand for entertainment and creating a fertile ground for international content providers.
In conclusion, Nguyen characterized Vietnam as "one of the major markets in Southeast Asia you simply cannot ignore," with its large population, rising economy, and increasingly sophisticated audiences driving demand for both local and international premium content across multiple platforms. So, what are your thoughts? Does Vietnam's unique blend of social media influence, cultural preferences, and co-production opportunities make it a must-enter market for your content? Do you agree with the assessment that Chinese-language drama is as important as Korean drama to local buyers? Share your opinions in the comments below!
