The digital entertainment industry is developing strongly and there were 2.4 billion internet users around the world by the end of July. The market share of digital entertainment and television increased from 25 per cent in 2010 to 30.3 per cent this year, with US$42.4 billion being spent on video games. With the advent of more and more smart phones and tablets, this is expected to reach over 36 per cent by 2015.
But Viet Nam, despite its young, highly connected population, remains in the middle ranks in the neighbourhood in terms of per capita spending on digital entertainment. Revenues last year were worth $3.3 billion.
Le Thanh Tam, managing director of International Data Group (IDG) ASEAN, told a conference titled “Viet Nam’s ICT Outlook” in HCM City last week: “Viet Nam should change its economic development trend because of limited competitive advantages. The digital entertainment industry would be an answer to improve its economic situation.”
A recent survey by IDG found that in the country domestic social networks account for 30 per cent, domestic games on mobile accounts for 30 per cent, and games on computers for 6 per cent.
“Television is limited, mostly using foreign content, and customers do not have many choices,” Tam said.
But with attention from policy makers and good infrastructure, digital entertainment revenues could rise to $10 billion by 2020 as internet use almost doubles to 58 per cent of the population, he said.
“A young population, lot of time spent accessing the internet, and an increasing number of internet and smart-phone users along with improving infrastructure and legal framework [will] boost the industry,” he said.
But he expressed concern about the rampant copyright violation despite having protection laws.
Viet Nam has its own satellites in space and 120,000 IT experts, and these are guarantees for the industry’s development, he added.
Photo Credit: Viet Nam News