Commerce – DITP Delighted by International Interest in Thai Content at Cannes, Confident in Revenue Potential Exceeding 1,986 Million Baht

The Department of International Trade Promotion (DITP), Ministry of Commerce has supported the participation of Thai film and television companies in the Cannes Film Festival’s Marché du Film 2023, held from May 16th to 24th, 2023. Ten Thai content companies successfully engaged in trade negotiations, resulting in potential revenue of over 1,986 million Baht (approx. US$56m). The response received from investors and creators, particularly within the Asian production sector, has been extremely positive.

Mr. Phusit Ratanakul Sereroengrit, Director-General of the Department of International Trade Promotion (DITP), expressed his satisfaction, stating, “The Marché du Film – Cannes Film Festival 2023 held in Cannes, France, from May 16th to 24th, 2023, witnessed a dynamic and vibrant atmosphere, creating exciting business prospects. With the participation of over 14,000 businesspeople and influential figures from around the globe, the event further solidified its crucial role within the industry.”

This year’s trade negotiations saw foreign investors, production partners, and buyers highly motivated to engage with ten Thai companies representing the highest level of skill. This resulted in 271 appointments generating potential trade value of 1,986 million Baht (approx. US$56m). Notable trade negotiations included M Pictures Co., Ltd., which negotiated with companies from Poland, Vietnam, and China, to license over 20 titles for distribution and theatrical release. Additionally, Benetone Films Co., Ltd. found strong interest in Thailand as a location for international production. Films and series from the United States, France, Germany, and Russia plan to film in Thailand in the near future, attracted by the Thailand Film Incentive Measures to promote foreign film production in the country.

Thai content has been increasingly well-received on the international stage, with the skills of Thai production and post-production companies serving as the cornerstone of the growing demand for Thai services. The combined sectors of content licensing and service contracts bring substantial economic benefits and are supported by the Ministry of Commerce in alignment with governmental policy. The creative industries also contribute to enhancing Thailand’s soft power, a value recognized and supported by the Thai government.

The Marche du Film – Cannes Film Festival 2023 exhibition had over 14,000 attendees from 120 countries worldwide, surpassing the previous record of 12,500 attendees in 2019. Each country was represented by more than 60 delegates, and over 370 companies participated as sellers, alongside more than 60 panel discussions. This year, there was a significant increase in investors and creators from the entertainment industry of the People’s Republic of China, returning to participate after fully reopening the country following the COVID-19 situation. As one of the largest film industry markets in the world, this “increase” has the potential to support growth within the region. The DITP is dedicated to promoting Thailand’s strengths, including its diverse workforce, cost-effectiveness, reliability, and proven track record. Leveraging these strengths, coupled with steadfast government support, will reinforce Thailand’s position as a hub of the digital content industry in the region.

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