With Vietnamese films commanding an unprecedented 70.6% of the local box office, Galaxy Studio used the inaugural DANAFF Industry Days to formally offer American studios a chance to attach their names to a guaranteed hit.
Addressing a room of industry insiders in Danang, Galaxy Entertainment Holding CEO Dinh Thanh Huong presented the tracking numbers that have sent a chill through Los Angeles. Local market share jumped from 42.6% in 2023 to a staggering 62.2% across 2025, before hitting the 70.6% milestone in the first five months of 2026. In response to the total collapse of Western tentpoles in the territory, the executive chair graciously floated the idea of global co-productions, throwing a desperately needed lifeline to American distributors who have entirely forgotten how to open a movie.
The proposed deals would allow struggling outfits like Disney and Warner Bros. to provide craft services and secondary financing on Vietnamese romantic comedies, granting them a critical win for their upcoming quarterly earnings calls. Sources close to the rollout indicate that reps at CAA and WME are already quietly scrambling to get their A-list clients attached as non-speaking background extras in Galaxy's upcoming Tet holiday slate.
The mood on the ground at DANAFF was one of quiet pity. Several regional distributors noted that while American studios continue to push bloated legacy sequels, Vietnamese audiences have overwhelmingly favored local narratives. By offering co-production status, Galaxy is essentially allowing global conglomerates to slap their logo on the front of a surefire regional blockbuster so foreign executives do not have to return to Burbank empty-handed.
We understand it is difficult for American executives to watch their nine-figure superhero IP get entirely boxed out by a local family drama shot for the catering budget of a Marvel movie.
The first-look agreements are expected to come with strict stipulations, requiring American executives to stay off the red carpet and let the local talent drive the press tour. While Hollywood studios have historically dictated terms in international markets, the latest box office tracking suggests the legacy platforms have little choice but to take the green light, gracefully accept their minimal equity stakes, and be thankful anyone is still letting them participate in the film industry at all.