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27 May 2008

Industry

Movie Industry, 2008: Decelerating Growth at 10-15 Percent (Business Brief No.2178)

Thailand's movie industry in 2008 has encountered copyright infringement and lower consumer spending amid rising inflation and the increased popularity of home entertainment products. Broadly speaking, however, steady investment in the film industry has been earmarked for expansion of multiplex cinemas both in the Greater Bangkok area and in the provinces, especially in communities with ample purchasing power and unavailable modern theatres.
As for competition, the focus has been on quality when it comes to the expansion of multiplex theaters that have gained greater popularity with audiences but require huge investment. Investment has been seen from large and long-experienced movie theater operators and emphasis has been on technological upgrades in film projection and sound systems as well as more attractive and modern theaters.
Looking ahead, KASIKORN RESEARCH CENTER (KResearch) estimates that the market turnover of the film industry in Thailand may increase to THB5.0-5.3 billion in 2008 over THB4.6 billion recorded in 2007. This represents a year-on-year rise of 10-15 percent, but is slowing from the growth of 18 percent achieved in 2007. Among the key favorable factors are a rising number of cinemas and films on screen plus changes in marketing strategies to better meet audience preferences. In the provinces, vast untapped potential seems to be there, especially in many provinces where no modern multiplex cinemas have been established. On the marketing front, local film producers have been upgrading their cinematic quality to provide movie-goers with better entertainment. Significantly, the majority of the Thai population is middle-aged or teenagers - the key target groups for the movie industry. With these factors, a bright outlook seems to lie ahead for the local film industry.

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