The Department of International Trade Promotion (DITP), Ministry of Commerce today revealed the resultsof the business matching activities at the Hong Kong International Film & TV Market (FILMART) 2023.
Between 13 – 16 March 2023, twenty-one leading Thai content producers, distributors and production service providers attended the event and surpassed their targets by generating potential revenue of over US$39 million.
After an absence of three years, FILMART attracted a significant number of attendees, boosted by the recent re-opening of China.
Mr. Phusit Ratanakul Sereroengrit, Director-General of the Department of International Trade Promotion (DITP) said,
“It was encouraging to see the global industry return to FILMART 2023 in Hong Kong, from 13 – 16 March, with a strong business atmosphere returning after the hiatus caused by the COVID-19 pandemic. The relaxation of global travel restrictions has paved the way for the reemergence of face-to-face meetings as a crucial element of international trade.
Through the opportunities provided by FILMART and the business matching program of the DITP, twenty-one Thai companies were able to meet potential investors, producers, and content buyers with more than 527 appointments generating over 39 million dollars in potential revenue.
As examples of fruitful trade negotiations, Halo Productions Co., Ltd. has entered negotiations to produce two 10-part series for the Chinese market, and Retina Film Production Co., Ltd. will provide production services for a UK-based company later this year.
Mrs. Chanunpat Pisanapipong, Thai Trade Commissioner & Consul; Executive Director of DITP HK, added that,
“The Hong Kong film and entertainment industry recognizes the potential of Thai content producers and regards Thailand as a valuable partner in the region to enhance the film industry and jointly expand the market. DITP in Hong Kong attended the opening ceremony with the Chief Secretary for Administration Mr. Chan Kwok-ki and famous Hong Kong star Li Ming (Mr. Leon Lai). In order to promote greater awareness of Thailand’s representation at Hong Kong FILMART, an opening ceremony was held for the Thailand Pavilion and the business matching program. In attendance were representatives of the Ministry of Culture (Mr. Chaiyos Chaloenkitkhamjohn, Director of Film and Audio-Visual Division), the Department of Tourism, Ministry of Tourism and Sports (Mr. Udom Matsayawanigul, Director of the Thailand Film Office) and the Consul General of Thailand in Hong Kong (Mr. Chaturont Chaiyakam). Officiating guests included representatives of HKTDC, and major entertainment platforms; TVB, Viu TV and You Wing Live Co., Ltd.
They also had the opportunity to meet the Thai companies represented at the Thailand Pavilion, and at FILMART, including Workpoint, BEC World, ONE 31, Brandthink Cinema and Artop International. The Thailand Pavilion attracted international buyers throughout the four-day event, and positive connections were established that could lay the foundation for future trade and closer business relationships.”
Thai content has found a burgeoning market on OTT platforms, which have become increasingly significant for the industry. In particular, Thai horror films have gained a strong following in the ASEAN region. Meanwhile, Chinese audiences have exhibited a growing appetite for Thai content.
The technological advancements that have revolutionized content distribution are breaking barriers between countries and boosting opportunities for Thai producers to expand their global reach.”
The support provided by the DITP aligns with the Ministry of Commerce’s objective to enhance the Thai entertainment industry’s competitiveness, which plays a crucial role in advancing Thailand’s soft power.
This year, the Department joined with the Ministry of Culture and the Department of Tourism, Ministry of Tourism and Sports under the unified brand ‘Content Thailand’.
The twenty-one leading Thai companies represented a wide spectrum of the industry, including motion picture producers and distributors, television, documentary, and animation producers, as well as production and post-production service providers.
They were joined by The National Federation of Motion Pictures and Contents Associations (MPC).
The latest edition of FILMART broke records with over 700 film and related companies from 30 different countries attending. Notably, over 330 of these companies were from China. After a long hiatus, FILMART was the perfect platform to showcase new projects, including those from Hong Kong, which has seen a resurgence in its film industry over the last year. Industry experts view the success of FILMART as a promising indicator of the Asian film industry’s resilient recovery. Crucially, content buyers showed up in large numbers with an appetite for fresh feature films and television content.
FILMART represents a vital platform for the Thai government to bolster the digital content industry, offering valuable opportunities to amplify its global footprint and generate interest in the diverse offerings of the Thai entertainment market.
Company Name: Department of International Trade Promotion
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