Film & TV ProductionSilver report

Published May 2026Insight Research20 min read2026 Edition14 sources, 14 primary-gradeStrong source depth

Thailand Film & TV Production Market Intelligence

Thai film and TV sector ~THB 55-65B revenue. Broadcast TV (Channel 3, Channel 7, Workpoint), film studios (GDH 559, Sahamongkol), OTT streaming, BL drama export. THACCA soft-power policy, 30% cash rebate.

Key takeaways

1
Thailand's film and TV production sector generates an estimated in annual revenue (FY2024), spanning broadcast TV advertising (~), OTT streaming (~), foreign location shoots (~), theatrical box office (~), BL/GL drama export licensing (~), and post-production services (~).
2
Broadcast TV remains the revenue anchor: BBTV (Channel 7) leads ratings, BEC World (Channel 3, SET: BEC) is the largest listed broadcaster, Workpoint (SET: WORK) dominates variety and game-show formats. All face secular ad-revenue decline as viewership migrates to OTT.
3
Thai BL (Boys Love) drama is the breakout export phenomenon, projected at by 2025 (SCB EIC). Global audiences in Japan, China, Philippines, Latin America drive licensing revenue and merchandise. GMMTV (GMM Grammy subsidiary) is the dominant BL studio.
4
THACCA (Thailand Creative Culture Agency, launched 2024) and the upgraded cash rebate for foreign productions (effective January 2025, no cap) position Thailand as Southeast Asia's most aggressive content-production incentive regime. White Lotus Season 3 alone generated in local spending.
5
Our read: broadcast TV is a mature, declining-margin business; the growth vectors are OTT original commissioning, BL/GL content export, and foreign location-shoot revenue. THACCA policy execution and cash-rebate uptake are the signals to watch.

Executive summary

Thailand's film and television production sector generated an estimated in FY2024 revenue across five primary streams: broadcast TV advertising (Channel 3, Channel 7, Workpoint, One31, PPTV, Amarin TV), OTT streaming subscriptions and originals commissioning (Netflix Thailand, Disney+ Hotstar, WeTV, VIU, TrueID), theatrical box office (domestic gross ~ in 2024), foreign location-shoot spending ( from 491 productions in 2024), and the rapidly growing BL/GL drama export licensing segment.^{[, , ]}

The broadcast side is dominated by three incumbents: BBTV (Channel 7, private, top-rated free TV), BEC World (Channel 3, SET: BEC, largest listed broadcaster), and Workpoint Entertainment (SET: WORK, variety and game-show specialist). All three face structural ad-revenue headwinds as Thai audiences migrate to OTT platforms. Netflix leads OTT penetration; WeTV, VIU, and Disney+ Hotstar compete for Thai-language drama commissioning rights.^{[, , ]}

The film production landscape centres on GDH 559 (GMM Grammy-Hub Ho Hin JV), Sahamongkol Film International, and Kantana Group. GDH 559 is Thailand's most commercially consistent studio; 'How to Make Millions Before Grandma Dies' earned domestically in 2024. Foreign production spending hit a record in 2024, with the government targeting for 2025 on the back of the White Lotus effect and the upgraded cash rebate.^{[, , ]}

TFO, SET 56-1 filings, Statista, Variety, Media Partners Asia

Data as of: FY2024

Thai film and TV sector revenue trend (THB billion, 2020-2024)

2020

Revenue (THB B)

Context

COVID trough; cinema closures, ad pullback

2021

Revenue (THB B)

Context

Partial recovery; BL export surge begins

2022

Revenue (THB B)

Context

Post-COVID rebound; OTT commissioning accelerates

2023

Revenue (THB B)

Context

Foreign production spend rises; THACCA announced

2024

Revenue (THB B)

Context

Record foreign shoots; BL export $142M projected

Year	Revenue (THB B)	Context
2020	42	COVID trough; cinema closures, ad pullback
2021	45	Partial recovery; BL export surge begins
2022	52	Post-COVID rebound; OTT commissioning accelerates
2023	58	Foreign production spend rises; THACCA announced
2024	63	Record foreign shoots; BL export $142M projected

TFO, SET filings, SCB EIC, Media Partners Asia

Data as of: FY2024

Revenue mix by segment (% of FY2024 revenue)

Broadcast TV (ad revenue, licensing)

Share %

42%

Notes

Channel 3, Channel 7, Workpoint, One31, PPTV, Amarin TV

OTT streaming (subscriptions, originals)

Share %

20%

Notes

Netflix, Disney+ Hotstar, WeTV, VIU, TrueID

Foreign location-shoot spend

Share %

12%

Notes

491 productions in 2024; $191.3M spend

Theatrical box office (domestic)

Share %

10%

Notes

$162.3M gross; GDH 559, Sahamongkol lead

BL/GL drama export licensing

Share %

Notes

Japan, China, Philippines, LatAm audiences

Post-production, VFX services

Share %

Notes

Kantana, post houses serving international clients

Segment	Share %	Notes
Broadcast TV (ad revenue, licensing)	42%	Channel 3, Channel 7, Workpoint, One31, PPTV, Amarin TV
OTT streaming (subscriptions, originals)	20%	Netflix, Disney+ Hotstar, WeTV, VIU, TrueID
Foreign location-shoot spend	12%	491 productions in 2024; $191.3M spend
Theatrical box office (domestic)	10%	$162.3M gross; GDH 559, Sahamongkol lead
BL/GL drama export licensing	8%	Japan, China, Philippines, LatAm audiences
Post-production, VFX services	8%	Kantana, post houses serving international clients

TFO, SET filings, Statista, SCB EIC

Data as of: FY2024

Analyst framing

Why this report

Film and TV production is the operational backbone of Thailand's soft-power ambitions. THACCA policy, the 30% cash rebate, and BL drama's global audience create a rare convergence of government subsidy, private-sector content IP, and organic international demand. This report maps the operators, revenue architecture, and policy levers that determine whether Thailand captures or squanders the moment.

Operator playbooks

BEC World (Channel 3, SET: BEC): Thailand's largest listed free-TV broadcaster with FY2024 ad revenue of approximately THB 3.5B. Channel 3 dominates prime-time drama ratings but faces secular ad-revenue decline (~13% YoY in 2024). Strategy pivots to OTT content licensing (selling drama catalogue to Netflix, WeTV), digital advertising, and cost restructuring after November 2024 layoffs of ~100 staff. Strategic: listed proxy for Thai broadcast TV; declining topline but still the largest advertising platform.

BBTV (Channel 7, private): Thailand's top-rated free-TV channel by audience share for over four decades. Private, not SET-listed, so financials are opaque. Strength in prime-time drama, news, and lakorn (Thai TV drama). Revenue model depends almost entirely on advertising; OTT pivot has been slower than Channel 3. Strategic: dominant audience share but private-company opacity limits investment thesis.

Workpoint Entertainment (SET: WORK): listed broadcaster specialising in variety shows, game-show formats (The Mask Singer franchise), and increasingly drama production. Revenue ~THB 3-4B, split between TV advertising, digital content, and event management. OTT strategy centres on Workpoint TV app. Strategic: format-export potential (game-show IP licensing to international markets) is undervalued.

GDH 559 (GMM Grammy-Hub Ho Hin JV): Thailand's most commercially consistent film studio. Produced 'How to Make Millions Before Grandma Dies' (THB 339M domestic gross, 2024 Thai box-office champion). Not independently listed; consolidated under GMM Grammy (SET: GRAMMY). Strategic: proves Thai-language theatrical content can generate blockbuster returns; pipeline visibility is limited to announcement-by-announcement.

GMM Grammy (SET: GRAMMY): diversified entertainment conglomerate spanning music, film (via GDH 559), TV (via GMMTV), and the BL drama powerhouse GMMTV studio. GMMTV is the dominant producer of Thai BL series exported globally. Strategic: the listed play on Thai content export, particularly the BL/GL phenomenon.

Sahamongkol Film International: major Thai film production and distribution house. 'Term 3' earned THB 122M in 2024. Privately held. Competes with GDH 559 for domestic box-office share. Also distributes international titles in Thailand. Strategic: second-largest domestic film producer by commercial output.

Major Cineplex Group (SET: MAJOR): Thailand's largest cinema chain (~800 screens). Revenue depends on box-office throughput, concessions, and advertising. Also invests in Thai film production. Strategic: the listed proxy for Thai theatrical exhibition; COVID recovery trajectory and OTT substitution risk are the structural variables.

Kantana Group (private): integrated film, TV production, post-production, dubbing, and animation house. Operates Kantana Institute (film school) and Kantana Movie Town studio complex. Key post-production service provider for international shoots in Thailand. Strategic: infrastructure play on foreign production spending.

Broadcast vs OTT market mechanics

Thai broadcast TV advertising peaked around 2014-2015 and has been in structural decline since the digital-TV transition fragmented audiences across 20+ channels. BEC World (Channel 3) projects further ad-revenue contraction of ~10% annually through 2026. BBTV (Channel 7) retains the highest audience share but faces the same headwinds. Workpoint's variety-format niche provides some insulation but not immunity. The net effect: broadcast TV is a cash-generating but shrinking base.

OTT penetration reached ~64% of Thai internet users in 2024, projected to hit ~77% by 2029 (Statista). Netflix leads in market share; WeTV and VIU compete aggressively on Thai-language drama commissioning. Disney+ Hotstar exited several APAC markets but retained Thailand. TrueID (True Corp, SET: TRUE) bundles OTT with mobile subscriptions. Thai producers increasingly sell content to multiple OTT platforms simultaneously, creating a multi-window licensing model that partially offsets broadcast decline.

BL drama export represents a genuinely novel revenue stream. Thai BL series accounted for over half of all BL content aired across Asia in 2024. SCB EIC projects the sub-segment at THB 4.9B by 2025, growing at 17% compound. Revenue flows through OTT licensing (WeTV, VIU, GagaOOLala), merchandise, fan-meeting event tours (Japan, Philippines, Indonesia), and talent management. GMMTV (GMM Grammy subsidiary) is the dominant producer.

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