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How Thailand Makes Millions For Its Film Industry: The Prospect and Global Phenomenon

How Thailand Makes Millions For Its Film Industry: The Prospect and Global Phenomenon
Source: How to Make Millions Before Grandma Dies (2024)

According to data from the Thailand Film Office, Thai film industry has experienced consistent growth in film production. In 2022, it reached a remarkable milestone by producing a record-breaking 348 films, which collectively generated a total revenue of 6.6 billion Baht. By the next year, nearly 60 Thai films premiered in theatres, and around 20 more were released through online platforms. Some of the country's recent big hits in the last 10 years are Bad Genius (2017) and How to Make Millions Before Grandma Dies (2024).

Thailand boasts a vibrant cinema market, featuring numerous multiplexes and independent theaters throughout the country. The Thai government supports the film industry through various programs, including the Thailand Film Incentive. Between 2018 and 2023, more than 30 projects were eligible for this incentive, receiving cash rebates of up to 20%. In total, qualifying films were awarded cash rebates amounting to 925.19 million Baht.

Revival in the 2000s Cinema

In the 1950s-1970s, Thai films began to reflect local culture, traditions, and values, resonating with domestic audiences. This period saw the rise of action, drama, and comedy films and many productions in Thai martial arts and ghost stories. Although the next 10 years, Thai film production declined due to competition from Hollywood and Hong Kong cinema. The film industry then shifted to TV dramas, making their debut on television instead of the big screen. Eventually, the number of films produced annually also decreased.

From 1990 and so on, several movies started to gain recognition from international film festivals. Uncle Boonmee Who Can Recall His Past Lives (2010) directed by Apichatpong Weerasethakul won the Cannes Film Festival in 2010. Films such as Nang Nak (1999) and Ong-Bak (2003) became box office hits, portraying traditional Thai elements with modern filmmaking techniques.

Unique Characteristics of Thai Cinema

Ever known Thai cinematography and storytelling from its advertisement? Before Thai film was as well-known as it is now, Thai ads contributed to the theme and style of the Thai filmmaking industry. Campaigns by Thai Life Insurance, AIS, and Thai Airways are renowned worldwide for their emotional depth, humor, and creativity.

Many Thai films explore themes of spirituality, karma, and folklore, often rooted in Buddhism and Thai myths. Filmmakers would also touch on contemporary topics like drama, urbanization, and slice of life, emphasizing realism. Films like Bad Genius (2017) for instance, a heist-drama set in the context of high school exams, demonstrate meticulous attention to detail and a unique ability to craft suspenseful, relatable narratives.

Future Prospect of Going Global

Thailand is increasingly participating in international co-productions, collaborating with countries across Asia and beyond. In 2022 alone, 60 foreign film projects were shot in Thailand, contributing 488 million Baht to the local economy. While Thai films typically earn only about 30% of the revenue generated by Hollywood movies, two Thai films have already surpassed the 100-million-baht revenue milestone this year.

To further boost the industry, the Thai government recently approved an enhanced incentive scheme, raising the basic rebate tier to 20% (up from 15%) and doubling bonus incentives to 10%, offering a total subsidy of up to 30%.

Thai films often mix multiple genres seamlessly, incorporating Thai traditions, landscapes, and philosophies that add a distinctive identity to their films. As Thai filmmakers are unafraid to experiment with unconventional storytelling styles, Thai cinema is now capable of producing visually sophisticated films, potentially rivaling Hollywood and Korean productions with improved technology.

This article was created by Seasians in accordance with the writing rules on Seasia. The content of this article is entirely the responsibility of the author

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