Vietnam Entertainment Market Size and Forecast by Content Type, Delivery Platform, Revenue Model, and End User: 2019-2033

Vietnam Entertainment Market Outlook

The Vietnam entertainment market is evolving rapidly, underpinned by a growing digital economy, shifting cultural preferences, and expanding regional influence. As per DataCube Research, the market was valued at approximately US$ XX.4 billion in 2024, with projections indicating it will reach US$ XX.3 billion by 2033, expanding at a CAGR of 6.5% between 2025 and 2033. From cinema and live events to digital streaming and content production, Vietnam’s entertainment industry is integrating global standards while maintaining strong local identity. The shift is also driven by a generational change, where younger Vietnamese consumers and creators are fostering demand for hybrid content formats that blend tradition with innovation. With significant foreign interest and rising domestic production, Vietnam is emerging as a competitive creative economy in Southeast Asia.

Infrastructure and Innovation as Growth Catalysts

The Vietnam entertainment sector is benefiting from both structural shifts and innovation-led disruptions. One of the major growth drivers is the increasing penetration of high-speed internet, driven by the national broadband development plan and 5G pilots in key urban centers like Ho Chi Minh City and Da Nang. Enhanced content streaming speed and investments in edge computing infrastructure have lowered latency and improved user experience, encouraging greater platform engagement.

On the regulatory front, Vietnam’s Ministry of Culture, Sports and Tourism has intensified support through film incentives and international co-production frameworks, such as the “Cinema Development Strategy 2021–2030.” However, constraints persist. The limited availability of skilled professionals and outdated infrastructure—particularly in the cinema sector—restrict scalability. Administrative delays, especially around live event permits, also hamper investor confidence. For instance, Blackpink’s 2023 concert faced lengthy approvals in Hanoi, drawing attention to bureaucratic inefficiencies.

Nonetheless, the Vietnam entertainment ecosystem continues to progress as government and private players collaborate to overhaul licensing procedures and attract foreign technical expertise.

Economic Indicators and Market Enablers

Vietnam’s rising disposable income, especially among urban millennials, is a critical enabler for content monetization. By 2024, average annual entertainment spending per capita in urban regions stood at US$82, with an expected rise of 45% by 2030 as consumer spending power strengthens. This expanding middle class is more inclined to pay for ad-free, on-demand digital experiences, fueling demand for localized subscription services.

In terms of content trade, Vietnam is still a net importer, with foreign films and music dominating mainstream channels. However, localized production is gaining ground, driven by emerging studios and independent filmmakers focused on storytelling that addresses contemporary themes such as identity, youth empowerment, and postcolonial narratives. Although production budgets remain modest—averaging US$300,000 per feature film—international collaborations and funding from platforms like Netflix and iQIYI are starting to bridge that gap.

The rapid evolution of streaming infrastructure—from single-server distribution models to regional CDNs—also supports greater content accessibility across devices and bandwidth tiers, enhancing user experience across rural and semi-urban areas.

Audience Behavior and Consumption Shifts

Digital content adoption in Vietnam is reshaping consumption dynamics across age groups. With a median age of just 32, Vietnam’s population is predominantly young, digital-native, and highly mobile. Data from 2024 indicates that the average Vietnamese consumer spends approximately 6.2 hours daily on entertainment content across video, music, gaming, and live events. Platforms like Zing MP3, VieON, and FPT Play are gaining strong user bases, while international platforms like Netflix and YouTube Premium have built a combined subscriber base exceeding 4.1 million users in Vietnam.

In terms of preference, subscription-based models are becoming more popular, particularly among urban users, with an estimated 36% of online users holding at least one paid entertainment subscription. Content personalization, multilingual accessibility, and mobile-optimized formats are critical drivers for user retention. The rise in consumer awareness of mental health and gender narratives has also influenced content trends, with a noticeable shift toward socially relevant storytelling.

Understanding end user behavior in Vietnam, including regional content preferences and time-of-day usage patterns, has become essential for companies planning targeted campaigns and viewer segmentation strategies.

Strategic Brand Moves and Market Realignments

Several Vietnamese and global entertainment brands are positioning themselves to capitalize on the market’s rapid evolution. Domestic leaders like Galaxy Studio, BHD Group, and CGV Vietnam are focusing on local-language content and mid-budget productions targeting Gen Z audiences. Galaxy Studio’s 2023 launch of “Việt Hồn” – a horror-drama film with folklore roots – generated over US$1.2 million in its opening week, reflecting rising audience interest in culturally grounded genres.

International players are employing hybrid distribution strategies. For example, in 2023, Netflix signed a partnership with local production house TFilm to develop a series of short films for Southeast Asian distribution. Meanwhile, Spotify has expanded its Vietnam operations with tailored artist support programs and AI-generated local playlists aimed at deepening listener engagement.

One of the emerging strategies among international firms is workforce localization. Understanding Vietnam’s flexible and autonomous creative workforce, companies are adapting management styles to prioritize task-based outcomes rather than rigid hierarchies. This shift fosters alignment with the dynamic local work culture and improves creative throughput.

Distribution efficiency remains a cornerstone strategy. Partnerships between Vietnamese content houses and global telecom providers, such as the FPT–Sony content delivery alliance launched in late 2023, aim to improve regional content syndication while optimizing performance on low-bandwidth networks.

Vietnam’s Entertainment Future

Vietnam’s entertainment industry is navigating a transformative trajectory—characterized by innovation, youthful creativity, and a nuanced cultural identity. While structural constraints remain, rising income levels, policy support, and improved infrastructure are setting the foundation for long-term growth. For global investors and regional content creators alike, the opportunity lies in adopting locally informed strategies that integrate seamlessly with Vietnam’s entertainment ecosystem.

As the country continues to balance its cultural legacy with modern digital aspirations, the Vietnam entertainment industry is well-positioned to emerge as a creative and commercial force across Asia-Pacific by 2033.

Author: Joseph Gomes Y (Head – Media and Entertainment)

*Research Methodology: This report is based on DataCube’s proprietary 3-stage forecasting model, combining primary research, secondary data triangulation, and expert validation. [Learn more]

Vietnam Entertainment Market Segmentation