Representatives of Thailand’s film industry generate revenue of over $23m at the American Film Market
Bangkok, Thailand, 22nd Nov 2022 – The Department of International Trade Promotion, Ministry of Commerce joined hands with eight leading companies at the American Film Market 2022 (AFM) in Santa Monica, USA, from 1st to 6th November 2022.
The eight companies were:
Benetone Films, Film Frame Productions, GDH 559, Hollywood (Thailand), Kantana Sound Studio, M Pictures, Right Beyond and Sahamongkolfilm International
These companies represented various sectors of the digital content industry, including film production, distribution, production services, and post-production.
Over 50 new film titles and services were presented by these companies, showing the skills and talents of Thailand, and reinforcing the ‘soft power’ of Thailand.
The support of the digital content industry is a component of the government’s policy created by Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce, which has positioned Thailand as a regional hub of creativity.
During the period of the market, the eight companies were also promoted through a business matching program, which resulted in a total of 269 face-to-face meetings, generating revenue of over 849 million Baht (over 23 million USD).
In addition, an MOU was signed between Epic Pictures Group from the USA and Hollywood (Thailand) to develop a slate of new titles, including a reboot of the famous Thai character ‘Red Eagle’, which will be released in 2024. This collaboration alone has the potential to generate revenue of over 5 million USD.
During the six days of the event, original Thai feature films were presented to distributors and digital platforms from many different countries. Notably, the market demonstrated significant potential for co-productions between Thai and international partners.
Thai production and post-production services are recognised as world-class, and the combination of skill, efficiency and value proved attractive to the international market.
Thailand’s government has worked alongside the industry to attract international films to shoot in Thailand. Incentive measures have significantly boosted the value of Thailand as a shooting location. Stunning scenery, experienced crews and modern equipment make Thailand a strong option for international productions.
The American Film Market was held for the first time in three years, after the disruptions caused by the COVID-19 pandemic.
Phusit Rattanakul Sereereungrit confirmed that after a two-year absence, this year’s AFM provided an opportunity for Thai entrepreneurs to strengthen existing business relationships and create new connections with potential business partners. While it is held in the USA, the AFM attracts companies from around the world. This year, Thai companies met with representatives from many different countries, and expanded their potential market. Latin America has been highlighted as an area where there is significant potential for business.
Organization: Department of International Trade Promotion.
Contact Person: Media Relations
The post Representatives of Thailand’s film industry generate revenue of over $23m at the American Film Market appeared first on King Newswire.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Fundamental Stocks journalist was involved in the writing and production of this article.