Commerce-DITP Celebrates Thai Cinema’s Triumph at AFM 2023 with Over $74M Revenue.

The Ministry of Commerce, through the Department of International Trade Promotion (DITP), supported eight Thai film and content companies to negotiate with international buyers, producers, and investors at the American Film Market 2023 (AFM) in Santa Monica, USA, from October 31 to November 5, 2023. The response exceeded expectations, particularly for Thai original content, showcasing the potential of the film industry to a global audience. At the Thai booth, there were 231 meetings, generating a total revenue of over US$74m.

Mr. Phusit Ratanakul Sereroengrit, Director-General of DITP, Ministry of Commerce, revealed, “Thai cinema has had a strong year domestically in 2023 in both quality and in generating revenue, with several films setting box office records in the hundreds of millions of Baht. These films have also attracted international attention and created excitement in the international market. The DITP, Ministry of Commerce, capitalised on this success by supporting Thai filmmakers to maximise the potential opportunity provided by the American Film Market 2023 (AFM), in line with the government’s policy to promote the digital content industry of Thailand.”

This year, the international market was keen to license international distribution rights for Thai films, including ‘The Undertaker’, which recently earned over US$25m in Thailand and has secured distribution licenses in ten territories across the ASEAN region and in Japan and Taiwan. The horror movie ‘Death Whisperer’ earned over US$12m in Thailand, and ‘Not Friends’ also attracted significant international interest at the Thai booth. Furthermore, Thai companies were successful in negotiations to attract international films to Thailand and to license remake rights.

During the six-day trade negotiation event, investors, producers, directors, and buyers from the U.S. and worldwide booked over 231 appointments, generating a trade negotiation value of over US$74m, marking a threefold increase compared to the previous year. This success stems from the capabilities and creative initiatives of Thai companies, coupled with the government’s aim to make Thailand a hub for the digital content industry.

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