Director Trinh Lam Tung, the creative force behind the animated film Trang Quynh nhi: Legend of Kim Nguu - one of the four newly announced animated film projects, expressed his gratitude by stating that numerous individuals have supported him, enabling him to pursue his dream. He revealed that his colleagues on the other three projects—Ceramic Warrior, Wolfoo and the Race of the Three Realms and Lazy-eyed Zombie—are also on this journey toward fulfilling that aspiration.
In 2023, Vietnamese cinema debuted its inaugural animated feature in theaters, titled Wolfoo and the Mysterious Island. Founder and CEO of Sconnect Ta Manh Hoang said that the production company behind the film, highlighted that while the film may not achieve significant financial success, it nonetheless represents a pivotal moment for the industry.
The most significant achievement was demonstrating that Vietnam can produce mainstream animated films for cinemas.
Many theatergoers had a lot of affection for the film and wanted more works produced by Vietnamese people.
One of the foundations for the film's success was that the Wolfoo brand was already a famous IP (intellectual property) and was loved worldwide before coming to Vietnam. The model of building IP and ecosystem is recognized by most animators as an important key to success.
Director Trinh Lam Tung revealed that prior to creating Kim Nguu Legend, he and his team dedicated several years to developing the Trang Quynh Nhi ecosystem, resulting in over 300 videos, 600,000 followers, 540 million views, and around 700,000 interactions on social media.
Doan Tran Anh Tuan, co-founder of Colory Animation and director of the film Zombie with Lazy Eyes, also shared plans to make a series of short films before releasing the film version.
Sconnect boasts approximately 20 distinct IPs, with 5 to 6 recognized worldwide.
In addition to producing digital content, this unit also focuses on producing games, building amusement parks, producing accompanying products or licensing to brands. The character Wolfoo has appeared in many products: books, toys, confectionery, milk, clothes, shampoo and shower gel.
The popularity of a film can lead to all its characters serving as brand ambassadors, allowing them to be represented in various vibrant forms on merchandise. This approach represents an orientation for the commercialization of animated films.
The effectiveness of IP lessons is evident in the success of numerous well-known global brands.
Investment Director Vu Phuong of the Red Ruby Entertainment film project referenced the film Inside Out as a pertinent example. At that time, this film distributor granted licensing rights to a jewelry brand in Vietnam. This arrangement not only generated revenue from the licensing agreement but also yielded profits from each product sold.
Distribution Director Nguyen Hoang Hai, who also serves as the CEO of V Pictures, concurred that intellectual properties (IPs) developed over several decades, such as Illumination and Doraemon, can yield long-term financial returns. Therefore, if producers possess a strong IP and a well-structured strategy, they can secure a reliable income stream.
Nonetheless, the initial phase of investing in an animation project and establishing an IP can be quite expensive, both in terms of production costs and marketing efforts.
The Zombie project, helmed by Director Doan Tran Anh Tuan, is still seeking the majority of its VND18 million-VND19 billion budget. With only 30 percent secured, including his personal saving and outside investment, the project faces a funding gap. Despite this, production has already reached the 20 percent mark, but a minimum of VND17 billion is required to keep the undead rising.
Director Doan Tran Anh Tuan acknowledged the difficulties in raising capital for the Zombie project. As per his explanation, the market's absence of successful animated film precedents makes it challenging to persuade investors.
Additionally, the high production costs required to maintain quality, comparable to live-action films, pose a significant hurdle. Director Tuan expressed optimism that the introduction of high-quality projects would encourage investor interest and contribute to the growth of the animation industry. He also highlighted the persistent challenges of scriptwriting and talent acquisition.
Mr. Manh Hoang stated that while Sconnect has developed both a production team and a script library over the last decade while Director Anh Tuan highlighted the shortage of professionals in Vietnam who possess a comprehensive perspective, despite the country's wealth of talent involved in major international films.
It's worth noting that talented individuals frequently have high expectations, which not all Vietnamese studios are currently equipped to meet. In response to this challenge, filmmakers are increasingly recognizing the value of collaboration.
Mr. Manh Hoang emphasized the importance of this animation film festival in facilitating connections between industry businesses, investors, and distribution partners.
