depa revealed the results of its survey and assessment of the Thai digital content industry for 2023, along with a three-year forecast. The report indicated that the overall industry experienced slight growth in 2023, with a total value of 44.236 billion baht, driven by the Art Toy trend that boosted the character industry. Meanwhile, the game and animation sectors continued to decline. depa further projected that the Thai digital content industry would continue to grow, with the total industry value expected to reach 50 billion baht by 2026.
The Digital Economy Promotion Agency (depa), in collaboration with the Thai Digital Content Association (DCAT), the Thai Animation and Computer Graphics Association (TACGA), the Thai Game Software Industry Association (TGA), the Bangkok ACM SIGGRAPH Business Group and IMC Outsourcing (Thailand) Co., Ltd. conducted a survey and assessment of the digital content industry; games, animation, characters and e-books for the year 2023, along with a three-year forecast.
Dr. Kasititorn Pooparadai, Senior Executive Vice President of depa revealed that the overall Thai digital content industry in 2023 grew by an average of 0.01%, with a total industry value of 44.236 billion baht. The overall industry was impacted by the declining game industry, which saw a continued decrease in consumption value for the second consecutive year.
Ms. Kasama Kongsmak, Executive Vice President of depa stated that the Thai digital content industry has the potential for continued growth. It is estimated that between 2024 and 2026, the overall industry will grow by an average of 4%. The total value is expected to reach 46.642 billion baht in 2024, 48.936 billion baht in 2025 and could surge to 50.694 billion baht in 2026. This growth will be driven by the projected expansion of the game industry, supported by various projects and measures, as well as the growth in the animation, character and e-book sectors, fueled by support and collaboration between the public and private sectors.
The game industry contracted due to a decline in user spending on mobile platforms.
Mr. Nenin Ananbanchachai, President of the Thai Game Software Industry Association, stated that in 2023, the game industry contracted by an average of 0.78%, with a total value of 34.288 billion baht. This decline was due to the continued decrease in mobile game users on both iOS and Android platforms for the second consecutive year. Mobile games accounted for as much as 54% of the total game industry value in 2022.
Mr. Nenin further mentioned that over the past year, the Thai Game Software Industry Association and several private sector partners have collaborated with depa to continuously
promote the game industry. This included enhancing the capabilities of game developers and businesses through programs like the Game Online Academy and Game Accelerator Program Batch 3. For the public, support was provided through initiatives such as Esports in School, Esports Online Academy, Esports National Tournament, and the Esports Accelerator Program. These efforts focused on empowering game developers to penetrate the market and capture market share from leading game-developing countries. The goal was to foster a positive attitude and promote the use of games for benefits beyond entertainment. As a result, the value of game production businesses that own intellectual property (IP Owner) in Thailand remains at approximately 680 million baht.
The animation industry and the continued market contraction (once again).
Mr. Santi Laohaburanakit, a representative of the Thai Animation and Computer Graphics Association stated that the animation industry contracted by an average of 10% in 2023, with a total value of 3.532 billion baht. This decline was due to a reduction in CG/VFX outsourcing from abroad, driven by price competition and the appreciation of the Thai baht. The contract production business, working under the intellectual property of others, shrank by as much as 12%, amounting to 397 million baht.
The character industry continues to grow, driven by increased purchasing power from the Art Toy trend.
Mr. Sumit Srimakul, President of the Thai Digital Content Association stated that the character industry grew by an average of 21% in 2023, with a total value of 2.445 billion baht. This growth was driven by an increase in the number of tourists, who are a primary target for the character industry, along with the rapid expansion of the Art Toy trend. As a result, revenue from character merchandising grew by 62%, reaching 385 million baht.
The e-book industry and the continuous growth in content consumption.
Ms. Kawita Puksai, a representative from the e-book industry stated that in 2023, the e-book industry grew by an average of 7%, with a total value of 3.971 billion baht. This growth is attributed to the continued increase in content consumption. Most of the content remains imported and translated into Thai by various operators and platforms from China, Korea, and Japan, leading to a significant rise in content imports.
Additionally, the press conference on the survey and assessment of Thailand's digital content industry for 2023 included a discussion on AI and the Digital Content Industry: New Collaborators or Scary Competitors. depa aims to promote the adoption of Artificial Intelligence (AI), which is rapidly transforming the digital content industry with its ability to create diverse forms of content, such as images, videos, and text. AI is enhancing the speed and efficiency of content production, as
well as tailoring content to consumer interests through big data analysis. It is also used for verifying data accuracy and preventing the spread of false information. However, AI also presents new challenges for the industry, such as copyright issues and potential job losses in certain areas.
"depa and its partners hope that the survey and assessment of the digital content industry for 2023, along with the three-year forecast, will be valuable for shaping government policies and direction in the national economic and social development plan. At the same time, it will serve as an important reference for the private sector in their business planning." said the Senior Executive Vice President of depa.
depa also has notable projects such as CONNEXION, which aims to enhance knowledge and develop new digital skills for Thais, especially for the unemployed and recent graduates seeking employment in the digital age. This initiative is crucial for the Thai e-commerce industry, including roles like content creators, influencers, organizers, designers, voice actors, storytellers, and more. Additionally, there is the Digital Toursim project, which involves developing ThailandCONNEX as a central platform functioning as a Business-to-Business (B2B) wholesaler for the Thai tourism industry. This platform enables Thai operators to present their products and services to travel service providers (Online Travel Agencies: OTAs) both domestically and internationally, helping to enhance their competitive edge and reach global tourists. The project aims to reduce reliance on foreign platforms and add value to the Thai tourism industry. To date, the project has successfully met its goals, with over 100,000 operators from sectors such as accommodation, restaurants, and vehicle rental services participating in ThailandCONNEX. The platform features over 200,000 tourism-related products and services, generating an economic value of no less than 12 billion baht.