Shark Minh Beta
At the recent seminar “Vietnam – Dynamic Asia Market and New Destination for International Film Crews,” Mr. Bui Quang Minh (also known as Shark Minh Beta), Chairman of Beta Group, which owns the Beta cinema chain, shared insights about the Vietnamese film market.
Shark Minh highlighted the vast potential of the Vietnamese market by comparing the number of cinema screens per million people in Vietnam to that of the United States. With only about 11 screens per million people in Vietnam compared to a much higher number in the US, there is significant room for growth.
An interesting fact about the Vietnamese market is that a large portion of the audience comprises young individuals. This demographic advantage has been beneficial to Beta Group’s business.
Established in 2014, Beta Group has experienced rapid growth. Post-COVID, the company tripled its revenue and now serves approximately 6 million moviegoers annually. Shark Minh proudly stated that Beta Group is likely the fastest-growing cinema company in the world.
The key to the success of the Beta cinema chain lies in catering to this young audience. With most of their viewers aged between 18 and 24, the cinema chain’s primary strategy is to focus on providing accessible and affordable options for this demographic.
Despite the low average ticket price of around 2.5 USD, Beta cinemas strive to maintain quality and competitiveness, adhering to international standards.
Vietnam is one of the fastest-growing markets globally, and international brands have taken notice. Recently, Beta Cinemas secured a deal with Japan’s Aeon Group, attracting a 200 million USD investment to expand its cinema business. Shark Minh believes that this potential extends beyond cinema management to film production and distribution.
Shark Minh Beta noted that Vietnamese films are breaking box office records. He predicted that within the first four to five months of the year, there would be impressive figures for Vietnamese films surpassing the 200 billion VND (over 8 million USD) mark.
These are massive revenues compared to historical film production in Vietnam. Interestingly, production costs have not increased proportionally. While a well-produced film in Vietnam used to require an investment of nearly 1 million USD, that figure has remained unchanged. However, box office numbers continue to soar, indicating increasing profits for producers and investors. This is why even cinema companies like Beta Group have ventured into film production.
Shark Minh Beta has produced several films, including “Tomorrow Mai Gets Married” (2017), “Finding a Wife for Mother” (2018), “Wife Swap Plan” (2018), and “Beauty and the Book” (2019). He also harbors ambitions to become a film director.
According to Box Office Vietnam, the total box office revenue in Vietnam reached a record high of 4,418 billion VND in 2024, surpassing pre-pandemic levels in 2019.
A study by Harvard Business School predicts a 10% growth in Vietnam’s cinema market over the next eight years.
Currently, Beta Cineplex operates 21 cinemas. While they have some way to go to catch up with the two industry leaders, CGV (83 cinemas) and Lotte (45 cinemas), Beta is leading the way in terms of new openings. In the past year, they have opened three new cinemas: Beta Lao Cai, Beta Xuan Thuy, and Beta Tay Son in Hanoi, according to Q&Me.
Recently, Beta Media formed a joint venture with Aeon Entertainment, aiming to open 50 cinema complexes nationwide by 2035, with a total investment of approximately 5,000 billion VND.
Beta Cineplex aims to capture 70% of Vietnam’s mid-range cinema market by 2030, with an estimated revenue of 1,400 billion VND.
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