China is Losing Young Moviegoers while Vietnam Market is Growing, JAFF Market Panel Reports

China's cinema industry is seeing a decline in younger viewers, while Vietnam is emerging as a significant hub for pan-Asian films, according to executives at the JAFF Market. Eric Lin, General Manager of International Content at Alibabas Damai Entertainment, reported that moviegoers under 24 now make up only 15% of the audience, a steep drop from 38% prior to the pandemic. Weve lost about half of them in the last five to six years, Lin stated, adding that the primary audience has shifted to the 30-49 age range.

Despite successes such as Ne Zha 2 earning over $2 billion at the box office, the industry struggles to engage younger viewers, who are increasingly drawn to short-form vertical content, often referred to as microdramas.

Vietnam has become an essential market for Asian cinema. Phong Duong, Business Director at Mockingbird Pictures, shared data showing that the Vietnamese film Red Rain earned more than $27 million, making it the highest-grossing film ever in the country. The discussion, moderated by JAFF Market advisor Lorna Tee and held in collaboration with the Indonesian producers association APROFI, featured Duong, Lin, Nelson Mok, CEO of Mokster Films, and Shiori Takata, Director of International Production at Toei.

Indonesias film industry remains strong, with local productions taking over 65% of the box office. Mok, who handled international sales for How To Make a Million Before Grandma Dies and the Taiwanese adaptation of More Than Blue, highlighted the importance of theatrical distribution. Both films were initially rejected by distributors because they didnt fit conventional commercial expectations, he explained.

Takata pointed out that Japans domestic market is dominated by animation, which makes up 80-90% of releases, limiting opportunities for live-action films. Toei launched its international production division in 2023, focusing on collaborations in Southeast Asia with budgets ranging from $1 million to $2.5 million. Panelists emphasized that high production quality is key to attracting international buyers.

Author: Sophia Brooks