In 2024, domestic cinema exploded with many projects achieving sky-high box office results. However, the number of films with poor revenue was equally shocking.
The picture of the Vietnamese film market in 2024 possesses many outstanding colors, coming from works that set revenue records, typically films by Ly Hai or Tran Thanh. However, besides that, there are also many domestic projects that have been ignored right at home, ending their box office journey with disastrous revenue.
If we compare the fluctuations of Vietnamese cinema this year to a sine wave graph, then the maximum point is Tomorrow of Tran Thanh, with more than 550 billion VND . Meanwhile, the minimum point must be mentioned. Hot girl squad, a project directed by Vinh Khuong. The film earned less than 70 million VND before leaving the theater quietly, the second lowest achievement in history, only after Legend of King Dinh (2022 - revenue 43 million VND).
"Mai" and "Lat mat 7" dominate
According to a survey, there have been about 25 Vietnamese films released in 2024 up to now (not including some works ordered by the state such as Peach, Pho and Piano good Pink Ms. Ha ). This number is equivalent to last year, when there were also 25 works released in theaters.
According to statistics of independent unit Box Office Vietnam , total domestic film box office revenue this year reached more than 1,900 billion VND , up 22% compared to 2023 (about 1,560 billion) - the most successful year in terms of revenue in the history of Vietnamese films.
Among them, there are 5 works joining the "hundred billion movie club", respectively: Demon Dog ( 108 billion VND ), Tomorrow ( 551 billion VND ) , Flip Side 7: One treaty ( 482 billion VND ) , Ma skin ( 127 billion VND ) and Get rich with ghosts ( 128 billion VND ). Case Devil Dog, The film will be released in late 2023, with main revenue in 2024.
The number of hundred billion films has slightly decreased compared to last year (6 films). However, Tomorrow and Flip Side 7 broke box office records again, becoming the two highest-grossing Vietnamese films in history. The two projects directed by Tran Thanh and Ly Hai alone earned more than the 1,000 billion VND , accounting for about 54% of total domestic film revenue this year.
Box office record of Tomorrow helped Tran Thanh become the first trillion-dollar director in Vietnam. In the context of the country's cinema industry recovering strongly after the pandemic, the appearance of the young director and his projects is like a gold mine for theaters and distributors. In the past few years, Tran Thanh has been considered the "king of Tet movies", when his works dominated theaters, overwhelming competitors outside the theater during Tet.
Meanwhile, Ly Hai reigned supreme during the April 30 - May 1 holiday. In 2023 and 2024, the films of the brand Flip side caused a fever at the box office, leading the domestic box office chart for many days in a row.
Besides the works of Tran Thanh and Ly Hai, domestic cinema in the past year also witnessed the rise of the horror trend - a genre that was once considered to be picky and had little potential to compete with popular film genres such as family or comedy.
Demon dog, Demon skin, next is Bran or closest to Lynx have successively conquered impressive revenue milestones. In which, Demon Dog and Ghost Earned hundreds of billions, a record number for Vietnamese horror films. Bran left the theater with a bang 96 billion dong , while Lynx still showing, has now surpassed the 80 billion revenue mark.
Previously, Vietnamese horror films made little money, not many had box office results that exceeded the break-even point.
A series of Vietnamese films 'fall off the horse'
Besides the works that achieved good results, the film market last year also witnessed many Vietnamese films "falling off the horse" with poor and disappointing revenue.
In the first half of the year, there were 9 names that caused losses for the manufacturer, respectively: Tea (Le Hoang), Light up (Hoang Tuan Cuong), The Heiress 2 (Hoang Duy), The Price of Happiness (Nguyen Ngoc Lam), B4S - Before Love (Tung Leo, Michael Thai, Huynh Anh Duy), Fragile flower (Mai Thu Huyen), 4th Floor Murder (Nguyen Huu Tuan), Claws (Le Thanh Son) and The most beautiful summer (Vu Khac Tuan).
In there, Fragile flower According to the director, the film had a huge investment budget, but only earned 430 million VND, making it one of the Vietnamese films with the heaviest losses in history.
Entering the second half of 2024, 4 more Vietnamese films have had poor box office performance: Domino: The Last Exit (Nguyen Phuc Huy Cuong), Hot girl squad (Vinh Khuong), Coolies never cry (Pham Ngoc Lan) and Save the teacher (Nguyen Phi Phi Anh). This list does not include documentaries. Vietnam women's football, the story told for the first time .
Coolies never cry won the Best Debut Film award in the Panorama category of the Berlin International Film Festival at the end of February. However, the work was not widely received in its home country, only pocketing more than 700 million VND. At present, when Vietnamese audiences prefer blockbusters, horror or drama films, independent projects like Coolies never cry being ignored is not difficult to explain. The same thing happens to Save the teacher by Nguyen Phi Phi Anh. The work was released as a "blind screening" for the first time in Vietnam, but only earned about 140 million VND.
In other developments, both action movies Domino: The Last Exit and Hot girl squad are all in the heavy loss group. In which, Hot girl squad earned only 68 million VND, a record low. Both of these projects had large budgets when filmed abroad, using a lot of CGI, special effects... However, the action genre is no longer hot in 2024, plus receiving negative feedback about quality, so "dying young" at the box office is inevitable.
The total number of loss-making films from 2024 to present is 13 works, accounting for 52% of the domestic film revenue chart, showing the harsh nature of elimination in the market and audience tastes.
In addition, the differentiation between high- and low-grossing films is also becoming increasingly deep. In 2024, the revenue of the highest-grossing film ( Mai ) compared to the lowest-grossing film ( Hot Girl Squad ) is... 551 billion VND (revenue Tomorrow more than 8,200 times revenue Hot girl squad ).
In addition to the box office performance, the quality of domestic films last year also fluctuated quite a bit. Some works when released in theaters even encountered mixed reactions from the audience because of weak scripts and disastrous content, typically Fragile flower , 4th Floor Murder good Hot girl squad.
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