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16 Sep 2008

Industry

Movie Industry, 2H08: Big Budget Films Help Boost Industry (Business Brief No.2288)

The Thai movie industry in 1H08 was quite sluggish because most of the films released did not register box office receipts as high as last year. Looking ahead, the market is poised to rebound in 2H08 due to many supporting factors, particularly the scheduled release of blockbuster films and opening of many modern multiplex cinemas for movie lovers, and efforts by movie theaters to increase the number of films showing each week. There have also been continuous promotional campaigns. However, there are several risks confronting the industry, including the political instability is having a minimal short-term impact on entertainment outside of the home, along with high inflation that have been dampening consumer spending, plus rampant movie piracy.

Other impediments include volatility in box office earnings, high production costs for Thai films looking to release overseas, high production and marketing budgets needed due to heightened competition. As a result, Thai movie production companies will need to assess their returns on investment cautiously and will have to brace for competition from international box office blockbusters, as well.

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