Realizing the strategy to turn culture into a multi-billion-dollar industry

In a context where the cultural industry is becoming a new growth engine, the challenge is to transform creative values into products and tangible economic value. To realize this, business models with the capacity to operate, to participate deeply in the market, and to connect to the global value chain are needed.

The cultural industry is defined not only as a creative field but as a strategic growth driver, an “economic force” aimed at consumers, contributing to Vietnam’s emergence as a cultural power in Asia.

Policy shift and “Era of Growth” targets

Government Resolution 80-NQ/TW has created a pivotal turning point by defining culture as a pillar of development, forming an ecosystem of the creative economy based on the intersection of content, technology, and commerce.

At the Velocity discussion within Bloomberg Businessweek Vietnam – The Year Ahead 2026, Mr. Đinh Bá Thành, Founder-Chairman of DatVietVAC Group Holdings, said Vietnam’s media and entertainment market is forecast to reach USD 2.4 billion by 2026 and continue growing at double-digit rates, creating a “window of opportunity” to translate heritage values into a national competitive edge.

“Culture is thus no longer merely heritage; it has become a form of strategic competitive advantage for the country. Vietnam, with a 4,000-year cultural foundation, has a special advantage, and in the context of steering toward the ‘Era of Growth’, cultural industries are identified as one of the pillars that both push economic growth and nurture national pride and raise Vietnam’s image on the world map.”

Mr. Thành also cited examples of how culture has become soft power and a multi-billion-dollar export in other markets, including K-pop (Korea), Anime (Japan), and Mandopop (Taiwan).

Distinguishing “culture” from “cultural industry”

Mr. Thành said the “Era of Growth” philosophy places cultural industries at the center of development. He noted that Vietnam has a National Strategy with concrete targets, including developing overseas cultural centers, building five national brands with global competitiveness, and allocating 2% of the annual budget to this field.

To achieve these macro goals, he argued for a clear distinction between “Culture” and “Cultural Industry.” He said that a true cultural industry requires three factors:

• Scale of production, with stable and mass-market demand.
• IP ownership and exploitation capacity to create a multi-layered ecological universe, at the intersection of “Creativity – Technology – Innovation.”
• Ability to take products to international markets.

Business model and market execution

Sharing nearly 30 years of experience in the entertainment field, Mr. Thành said DatVietVAC operates using an ecosystem model built on three pillars: content, technology, and innovation. The model is intended to help the business adapt to market trends and shape new products and cultural trends (V-culture).

He pointed to large-scale concert productions in Vietnam and abroad, including the concert series “Anh Trai Say Hi” and “Em Xinh Say Hi” by DatVietVAC, which attracted hundreds of thousands of spectators. He also referenced a Las Vegas concert with about 13,000 attendees as a test of bringing Vietnamese cultural products to the international market and validating the appeal of domestic content models when properly invested.

From an economic perspective, Mr. Thành said the company reduces dependence on time-bound products by building a system to develop and exploit IP across the value chain. Original content, he said, serves as the foundation for expansion into multi-platform distribution, events, fan communities, and monetization of artists.

Financial performance and outlook

DatVietVAC reported the following results and forecasts:

• 2025 revenue: VND 3,235 billion
• 2025 net profit after tax: VND 380 billion
• 2025 dividend payout: 30%
• 2026 forecast revenue: VND 3,382 billion
• 2026 forecast profit: VND 420 billion
• 2030 target revenue: VND 5,000 billion
• 2030 growth approach: maintaining 15% annual growth by expanding content production and accelerating internationalization

IPO plan in 2026

Regarding the plan for an initial public offering (IPO) in 2026, Mr. Thành said the company is planning to go public in 2026. In the context of developing the cultural industry, he described the IPO as a step to broaden the company’s capital for investment activities, including technology, digital infrastructure, and expanding international markets.