The video game and animation sectors continued to see declines in 2023, leading to a modest overall growth of the digital content industry by just 0.01%, bringing its total value to 44.2 billion baht.
This minimal growth was primarily fueled by rising demand for art toys, which positively impacted the character industry.
According to the latest survey and assessment from the Digital Economy Promotion Agency (Depa), the digital content industry is projected to exceed 50 billion baht by 2026. This survey was conducted 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.
Kasititorn Pooparadai, Depa’s senior executive vice-president, noted that the contraction in the video game industry, which saw its consumption value decrease for the second consecutive year, impacted the digital content sector.
Despite these challenges, there is potential for further growth in the digital content industry. The survey estimates an average expansion of 4% between 2024 and 2026, with total values projected to reach 46.6 billion baht this year, 48.9 billion baht in 2025, and possibly surpassing 50.6 billion baht in 2026.
This anticipated growth will be bolstered by a recovery in the video game sector as well as advancements in animation, character development, and e-books, largely supported by both public and private sector initiatives.
Nenin Ananbanchachai, president of the TGA, indicated that the video game industry contracted by an average of 0.78% last year, totaling 34.2 billion baht, due to a decrease in spending on mobile games for the second year in a row. Mobile games represented 54% of the overall game market in 2022.
In 2023, the TGA, along with several private partners, worked with Depa to promote the video game industry through various initiatives. The value of game production businesses with their own intellectual property in Thailand is estimated at around 680 million baht.
Santi Laohaburanakit, a representative of the TACGA, reported that the animation industry’s value fell by an average of 10% in 2023 to 3.5 billion baht, driven by a decrease in outsourced computer graphics and visual effects from overseas, compounded by the appreciation of the baht.
The contracting value of animation production for intellectual property owners declined by 12%, amounting to a decrease of 397 million baht.
Furthermore, Sumit Srimakul, president of the TDCA, stated that the character industry experienced a remarkable average growth of 21% in 2023, reaching a total value of 2.44 billion baht. This growth was propelled by an increase in tourist numbers—key consumers for the character industry—and the rapid rise of the art toy trend.
Consequently, revenue from character merchandising surged by 62%, amounting to 385 million baht.
Kawita Puksai, a representative from the e-book industry, noted that it expanded by an average of 7% in 2023, with a total value of 3.97 billion baht, thanks to a consistent rise in content consumption. Much of this content is imported and translated into Thai by various e-book platforms, resulting in a significant increase in content imports.
