U.S. media praises Vietnam’s billion dollar cultural industry appeal

In its June–July Asia edition titled “Vietnam’s pop culture takes the stage”, Fortune notes that Vietnam’s cultural economy is evolving in parallel with strong policy support and increasingly visible participation from the private sector.

Cultural economy targets double digit annual growth

The publication reports that the Vietnamese government aims for the cultural economy to grow by 10% annually and contribute 7% of GDP by 2030. Over the past 12 months, several notable initiatives have been introduced, including a new national holiday celebrating culture, Vietnam’s first national pavilion at the Venice Biennale, and the launch of Vietnam Today, a state run English language television channel.

The government has also broken ground on several high profile infrastructure projects, including a grand opera house in Hanoi and a 135,000 seat stadium, which is expected to become the largest in the world upon completion in 2028.

Based on these developments, U.S. experts assess that Vietnam’s pop culture is experiencing significant growth, as more domestic companies and creators actively seek opportunities to develop cultural products and entertainment content for international markets.

In practice, the cultural industry is gradually becoming a new growth engine for the economy. Collaboration among leading enterprises is also seen as a crucial step toward internationalizing Vietnam’s cultural values and national image, thereby expanding the global influence of Vietnamese culture.

With strong potential, the entertainment sector has recently attracted the entry of major players from both domestic and international markets.

Attracting billions of dollars from major travel and financial corporations

A music program in Vietnam (Photo: DT)

Recently, Saigontourist Group, a long-established and large-scale travel company based in Ho Chi Minh City, has entered the market. The company has partnered with DatVietVAC to develop the “Ho Chi Minh City Cultural Space in the Digital Era,” featuring LED screen touchpoints, exhibition and event centers, as well as arts and music performance venues.

Prior to this, a global entertainment giant, Sony Music, also entered Vietnam through the acquisition of a local entertainment company and the establishment of a joint venture focused on artist development. Sony Music has expressed strong confidence in Vietnam’s potential and aims to invest in and co-develop the local music industry for global expansion.

In addition to these major players, the entertainment industry—particularly Vietnam’s music programs—has attracted significant multibillion-dollar capital flows from financial institutions.

Techcombank will continue to act as a co-investor for the reality show Anh Trai Vuot Ngan Chong Gai 2026. During the same period, VIB is also investing in Anh Trai Say Hi.

The wave of bank investments in entertainment further includes VPBank with K-Star Spark 2025, and TPBank funding Em Xinh Say Hi. A 2025 YouNet Media report indicates that Music Marketing has become an effective tool for banks to attract customers and strengthen brand awareness.

Vietnam’s entertainment industry is becoming an increasingly attractive “market” due to its explosive growth potential, modeled after the success of South Korea, where the cultural industry generates tens of billions of USD annually.

International media attention is a positive recognition of the evolving landscape of Vietnamese pop culture, while also serving as motivation for businesses and creators to continue learning, innovating, and refining the development of Vietnam’s cultural values.

The two key companies behind recent successful entertainment programs are DatVietVAC and Yeah1.

DatVietVAC is the producer behind widely popular shows such as Anh Trai Say Hi and Em Xinh Say Hi. The “Say Hi” universe alone reportedly generated over 1,000 billion VND in revenue last year, reflecting a pioneering intellectual property (IP) exploitation model in Vietnam. The company has also filed for an initial public offering (IPO) and is expected to list on the HoSE exchange.

Meanwhile, Yeah1 Group, listed on the stock market under the ticker YEG, is behind programs such as Anh Trai Vuot Ngan Chong Gai, Chi Dep Dap Gio Re Song, and Tan Binh Toan Nang.

The U.S. publication also notes that Yeah1 achieved 60% revenue growth in 2025, while its network of 200 channels recorded 82 billion views over the past year.

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