For those whom frequent movie theatres, it’s probably not a surprise to learn that 2012 was a record year for ticket sales in Vietnam. The country has seen massive growth in this industry with a 514% increase between 2008 and 2012. And, of course, this doesn’t include the enormously popular Iron Man 3.
According to the Hollywood Reporter, Vietnamese cinemas made $7 million in 2008 and $43 million in 2012. This rapid increase landed Vietnam on the publication’s "13 Hot Emerging Markets" list. Since theatres in Vietnam are not forced to reveal their box office revenues, this is a rare glimpse into the financial details of country’s film industry.
These trends promise to continue into 2013; according to Vietnam Bridge, Iron Man 3 raked in $1 million on its opening weekend in Vietnam. This shattered the previous opening day record of Kung Fu Panda (2008) which grossed $364,000.
A recent survey by the Department of Cinematography revealed that Vietnam now has 93 cinema complexes with 214 cinemas, including 21 complexes owned by private and joint-venture companies. These figures don’t include the numerous Megastar, Platinum and Lotte cinemas that are currently in development.
Of the 13 emerging markets on the Hollywood Reporter’s list, Vietnam has the highest growth rate followed by Indonesia (171%), Taiwan (137%), Malaysia (132%), Ecuador (123%), the Philippines (123%), Columbia (118%) and Oman (112%).
