Fun fact: The top film on Netflix in Vietnam at the moment is American romantic dark comedy “Anora” about a street-smart sex worker from New York City who marries the son of a Russian oligarch. Did we expect Vietnam to be the only country in Asia where viewers watched this film enough to make it #1 for two consecutive weeks (24-30 Aug/31 Aug-6 Sept)? No.

For both weeks, the film beat Vietnamese director Trấn Thành’s drama “Bunny!!”. Admittedly, “Bunny!!”, in its 14th week on Netflix’s Vietnam charts in early September, is nearing the end of its run, so the downward curve is natural. Also, Vietnam is not yet a priority market for Netflix the way Thailand or Indonesia are, so choices of domestic fare and marketing are limited.    

But still, during the latest week, “Anora” beat a mix of new and old titles in Vietnam, perhaps most surprisingly heartwarming Thai drama “Gohan” about a white, pink-nosed stray dog as he moves through various owners. “Gohan” placed 6th in its second week on Vietnam’s film top 10, behind U.S. crime thriller “The Whisper Man” (#2), and the 10-year-old American Western “The Magnificent Seven”.

What’s our point? While theatrical skews heavily to domestic titles, Vietnam’s film tastes range as broad and wide as the most open of markets when it comes to streaming. 
Vietnamese films’ share of local box office this year is around 70%, according to industry stats; output is soaring, with projections of about 80 features in 2027 from less than 50 in 2025; production budgets are rising and there’s lively interest in co-productions. Although challenges – including IP protection and formal training – are clear, no one says Vietnam hasn’t earned its place around the world’s film table.

Television? Not so much. For the most part, heavy regulation, high compliance costs and relatively low returns have wiped out much of international distributors’ initial enthusiasm for a market with a population of 100+ million. The death of Canal+’s long-running and dogged K+ platform, which closed January 2026 after 16 years and losses of US$225 million by mid-2025, didn’t help. 

At the same time, recent developments have given rise to cautious optimism, and talk of market potential is returning along with rumours of a domestic telco-backed Coupang-style e-commerce, content platform.

Somewhere in the middle of despair and hope, there’s the formats sector. Once Asia’s bright spot, Vietnam’s adaptations of regional and international titles fell 74% from 19 productions in 2024 to 5 in 2025. A possible revival is led by the local adaptation of NBCUniversal Formats’ “Top Chef Vietnam”, produced by TV Hub, on Vietnam’s VTV3 in August. “Top Chef Vietnam” is the second big-brand adaptation announced in Vietnam this year. “The Face Vietnam” is also returning in a deal with Multimedia JSC after a three-year hiatus. The 10-episode fifth season airs on Vietnamese broadcaster VTV9 in October. A nice uplift. 

In numbers

Population ...................................    101.1 million
Households ................................    28.15 million
Avg. household size ...................    3.6 persons
Pay TV subscribers ........................    21 million
OTT subscribers .............................    7.4 million
Smartphone subs .....................    100.9 million
Mobile broadband subs ........131.7 million*
Fixed broadband ....................    24.79 million**

Source: Vietnam’s General Statistics Office (population 2024, households 2024). Authority of Broadcasting, Television and Electronic Information (ABEI) and Ministry of Information and Communications (Pay TV 2024, OTT 2024). Ministry of Science and Technology (Smartphone, broadband)

* Ministry of Science and Technology, 27 August 2026
** Ministry of Science and Technology, 26 July 2026

Published in ContentAsia's The Big List 2026: Vietnam