Thirty years strong, the Hong Kong International Film & TV Market (FilMart) proved once again its undeniable draw, transforming the Hong Kong Convention and Exhibition Centre into a vibrant hub of activity. Attendees described an atmosphere reminiscent of the market’s pre-pandemic peak, a palpable energy that underscored a surging global appetite for Asian content and the emergence of a diverse array of new players eager to make their mark. From Myanmar’s groundbreaking international market debut to Sri Lankan distributors forging connections with European buyers, the 30th edition of FilMart powerfully demonstrated that, even amidst anxieties surrounding artificial intelligence and market fragmentation, the screen business remains profoundly driven by human connection and collaboration.
The sheer density of the crowd, buzzing with deal-making fervor, painted a clear picture of an industry in flux but brimming with opportunity. This year’s gathering, alongside its co-located forum EntertainmentPulse, was a testament to Hong Kong’s enduring role as a gateway between East and West. The event, meticulously organized by the Hong Kong Trade Development Council (HKTDC), attracted an impressive 8,000 industry professionals hailing from 53 countries and regions. A record 790 exhibitors represented 38 nations, including first-time participants from Belgium, Poland, Sri Lanka, Myanmar, and Uzbekistan, signaling a broader, more inclusive global footprint than ever before.
Timothy Oh, General Manager of COL International Group, a leading microdrama player making its inaugural appearance from Singapore, captured the essence of the event. “I am meeting friends and new business partners from Turkey, the U.K., the U.S., and even Brazil,” Oh shared, emphasizing Hong Kong’s unique position. “Hong Kong’s role as an international hub helps create a bustling market with many business opportunities for those looking at innovation and what’s next.” His sentiments echoed throughout the halls, where established titans and burgeoning independents alike sought to navigate the evolving landscape of global entertainment.
FilMart 2026 served as a crucial barometer for the industry, revealing six pivotal trends that are shaping the future of screen content:
1. AI: From Theoretical Enthusiasm to Practical Integration
Artificial intelligence dominated conversations, but with a notable shift in tone. Unlike previous editions where AI was discussed with speculative excitement, this year saw practitioners engaging with the technology in more pragmatic, and at times cautious, terms. The focus had moved from “what if” to “how to” and “what now.”
The returning AI Hub, bolstered by the Cultural and Creative Industries Development Agency (CCIDA) and the Film Development Fund, showcased a range of pioneering companies including Alibaba Cloud, Kling, MiniMax, and Vidu. Academic partners from the University of Hong Kong and the Hong Kong Academy for Performing Arts also contributed, bridging theoretical research with practical application. Further underscoring this practical turn, the newly launched AI Academy offered 19 hands-on workshops, covering everything from generative text and audio to animation. This initiative aimed to demystify AI, equipping professionals with tangible skills to integrate it into their workflows.
Industry leaders, too, embraced AI’s evolving role. At the Golden Rooster Roundtable, jointly organized by the China Film Association and China Film Co-production Corp., AI was positioned not as a replacement, but as a creative “partner,” a tool to augment human ingenuity. Mei Ah Entertainment exemplified this by unveiling a slate of AI-generated short dramas, reimagining classic intellectual property (IP) for mobile-first audiences. Similarly, Red Empire Productions and Organic Media Group debuted their hybrid animated vertical series, “Home Away AI.i.Ce,” showcasing the innovative possibilities of AI in content creation.
However, the narrative wasn’t uniformly optimistic. Legendary director Peter Chan Ho-sun offered a sobering counterpoint during the Producers Connect panel, articulating a profound skepticism regarding the current state of the industry. “I think we’re at the worst times. Those days of the blockbusters are gone,” Chan lamented. “We’re experiencing now what I learned when I went to Hollywood in the late 90s. Nobody knows anything.” He attributed this uncertainty to fragmented markets, the rise of vertical short dramas, AI, and cinema closures. Chan drew a stark distinction between commercial cinema and auteur work, asserting, “I don’t think AI is an enemy to auteur film. But AI would be an enemy to mediocre blockbusters. Basically, AI can replace any blockbuster or commercial film in three years, I believe.” He reserved particular criticism for the industry’s reliance on data analytics, calling “Big data… one of the dirtiest words I’ve ever heard for creative people. A lot of these so-called big data could actually end up killing the film.”
The divergence in attitudes between Asian and Western markets regarding AI was also a key observation. Henry Or, SVP of strategic partnerships, Asia at Boat Rocker Studios, highlighted this disparity. “If you look at the whole AI development from China, it is more advanced, because it’s something that the government is really leading the whole development for the industry,” he told Variety. Or noted the widespread use of AI dubbing in Chinese drama production, though he added a practical caveat about its screen applicability: “China is okay, because 90% of people, they watch content on their mobile. So it’s a small screen.” This suggests a pragmatic adoption driven by market needs and technological infrastructure.
Bizhan Tong, a filmmaker based in the U.K. and Hong Kong, presented a more collaborative vision of AI. He framed the technology as a force that multiplies cooperation rather than diminishing it. “The use of AI has emboldened more collaborations to occur, because they see AI not as a tool for removing jobs, but one that can actually save jobs by reducing costs, and therefore enabling more productions to be made,” Tong explained. This perspective positions AI as an enabler, particularly for independent filmmakers and smaller productions facing budget constraints.
Underneath the public discourse, AI’s quiet integration into production workflows was undeniable. One director, speaking candidly, mentioned that certain generative AI shots in his sizzle reel would be replaced with conventional VFX before release. This seemingly minor admission spoke volumes about how deeply embedded the technology has become, even as practitioners remain wary of potential audience or investor scrutiny, highlighting a nascent tension between efficiency and perception.
2. China: The Gateway Warms, But Lingering Barriers Remain
With 355 mainland Chinese companies participating, expectations for significant distribution breakthroughs were high. However, the reality on the ground proved more nuanced, reflecting a complex and gradually evolving market.
China continues to be a formidable force in the global box office, securing its position as the world’s second-largest market with approximately $7.4 billion in 2025. While year-to-date 2026 revenue stood at roughly $1.58 billion—down 52.9% from the same period last year, largely due to the exceptional performance of “Ne Zha 2” in early 2025—it still ran some $350 million ahead of North America. Local films dominate, accounting for nearly 80% of ticket sales, and the audience demographics are shifting significantly: women now constitute 60% of cinemagoers, those over 25 represent 85% of the audience base, and emerging tier cities are experiencing double-digit growth. These shifts present new opportunities for content creators and distributors, particularly for those who can cater to a more mature, female-led audience base in expanding urban centers.
Despite the market’s immense potential, a significant barrier persists: China’s unofficial ban on Korean content. This restriction, impacting dramas, films, and K-pop performances, has been in place since 2016, imposed by Beijing in retaliation for Seoul’s deployment of U.S. missile defense systems. While diplomatic signals of a thaw have been building, including Chinese President Xi Jinping’s meeting with South Korean President Lee Jae-myung in Beijing in January 2026, suggesting gradual improvement, Korean distributors at FilMart were still navigating a waiting game.
Paul D. Kim, CEO of Seoul-based Hive Filmworks, articulated the ongoing frustration felt by Korean industry players. “It’s unfortunate the mainland China censorship is not lifted yet. We were hoping that we meet more Chinese distributors to be able to do the distribution of really good Korean commercial films,” he shared with Variety. Kim added, “We did meet some, but seems like nothing’s gonna move forward for a little longer while, so we are hoping the second half of the year we might be able to do more collaboration with China.” This sentiment underscores the cautious optimism tempered by the reality of persistent market access challenges.
Nevertheless, subtle signs of a gradual thawing were observed. On the market floor, discussions circulated about the potential loosening of censorship red lines. Recent mainland screenings of previously unreleased library titles in the horror genre—including “Alien: Romulus” and “The Shining”—drew considerable notice as cautious indicators of a shifting content environment. These test cases suggest a potential appetite for greater content diversity, even within established genres.
From a diplomatic perspective, the mood appeared more optimistic for some. For Bizhan Tong, a significant recent catalyst was political: U.K. Prime Minister Keir Starmer’s visit to China, which paved the way for visa-free travel for British citizens from Lunar New Year. “I’ve had meetings where people have just reached out to me and asked me, can we quickly meet in Shenzhen or Guangzhou, and suddenly I can now do that,” Tong remarked. He added that his company is actively engaged in working with China on both scripted and unscripted projects, highlighting the tangible benefits of improved diplomatic relations on cross-border business opportunities.
3. Co-productions Find New Momentum – and New Complexity
Cross-border collaboration is experiencing a notable surge, driven by a confluence of economic imperatives and evolving audience behaviors. A new generation of viewers, increasingly comfortable with subtitles and foreign languages, has effectively lowered cultural barriers, making diverse narratives more accessible. Simultaneously, tightening production budgets across the globe are transforming multi-territory partnerships from a luxury into a strategic necessity, pooling resources and expanding market reach.
The Producers Connect initiative, a collaborative effort jointly organized by the HKSAR’s Culture, Sports and Tourism Bureau, the CCIDA, the Hong Kong Film Development Council, and the HKTDC, served as a powerful catalyst. It successfully convened over 100 producers from Hong Kong and around the world, fostering invaluable networking and discussion. During a panel titled “International Coproductions in an Evolving Film Industry Landscape,” veteran producer Janet Yang articulated this global shift, observing that “the world is getting flatter, language is mattering less and less to audiences everywhere.” Peter Chan, addressing the same session, offered crucial strategic advice, counseling filmmakers to diversify their investors and partners across various regions to mitigate risks and maximize opportunities.
Formalizing these burgeoning relationships, the Shanghai Broadcasting Film & TV Producers Association and the Hong Kong Screenwriters’ Guild signed a significant memorandum of understanding at the market. This agreement outlines comprehensive cooperation across co-production ventures, talent cultivation initiatives, and technological exchange, laying a robust foundation for future joint projects between these two vital creative hubs.
Bizhan Tong, who engaged in numerous meetings with partners across Asia during the event, described a tangible shift in the industry’s collective spirit. “In contrast to two recent years, there is a more positive spirit in what we can do together,” he noted. “What we’re seeing is different regions looking to do more international collaborations, more co-productions, and I feel as a result of that, we should be seeing more projects getting made.” This renewed enthusiasm for collaboration signals a more integrated and interdependent global content ecosystem.
4. Microdrama Goes Global – and Gets Serious
For years, microdrama was largely considered a localized Chinese phenomenon: bite-sized vertical episodes, designed for mobile consumption, monetized at scale, and largely overlooked by the broader Western industry. At FilMart 2026, this narrative underwent a profound transformation, opening a new, globally significant chapter.
The format has already eclipsed traditional film and television in mainland China in terms of revenue, a clear indicator of its commercial power and audience appeal. Now, producers are aggressively pushing its boundaries beyond China’s borders. Linmon Media arrived at FilMart with a dedicated microdrama division, built on the success of 11 titles in 2025—80% of which ranked in the top three in key Thai and Indonesian markets. The company unveiled a new vertical-format lineup specifically tailored for broader Asian audiences, demonstrating a strategic pivot towards international expansion. Mei Ah Entertainment, meanwhile, showcased its innovative approach by collaborating with Douyin to transform classic films into short-form dramas, leveraging AI to generate new short-form content from its extensive classic IP library.
Perhaps the most telling indicator of microdrama’s maturation was a structural innovation. COL Group, in partnership with Nasdaq-listed BeLive Holdings, launched what they described as the world’s first “Microdrama in a Box.” This comprehensive bundled offering combines cloud-based platform infrastructure with access to a curated content catalogue. The ingenious solution is designed to empower broadcasters, mobile operators, and streaming services in emerging markets to deploy a branded microdrama platform within a remarkably short timeframe of 30 days. This proposition directly targets markets where the appetite for the format is burgeoning but where the essential building blocks—content libraries, platform technology, and operational know-how—remain largely out of reach. It represents a significant step towards democratizing access to this lucrative content model.
The growing stature of microdrama was further affirmed by EntertainmentPulse, which dedicated a full session to the format. Speakers from influential Chinese companies, including DataEye, Mansen Culture Media, and Xiaowu Brothers, meticulously dissected both the production economics and the innovative business models propelling its global expansion. The unequivocal consensus among industry experts was clear: microdrama is no longer an experimental niche. It has evolved into a formidable, self-sustaining industry.
5. Southeast Asia and New Voices Step Forward
FilMart’s geographic footprint continues its impressive expansion, with Southeast Asia and a wave of emerging-market first-timers asserting their presence with growing confidence and unique storytelling perspectives.
Myanmar production company aTwentyThree utilized FilMart as its inaugural international market outing, with founder Arker Soe Oo successfully connecting with distributors from both the U.S. and Europe, marking a significant milestone for the burgeoning film industry in Myanmar. Similarly, Sri Lanka’s Mogo Studios, another first-time exhibitor, reported that the market exceeded their expectations, underscoring the potential for new entrants to find success and forge crucial international partnerships.
Filipino producer Wilfredo Manalang of Fusee found the event particularly energizing, especially regarding regional content trends. “There’s a lot of interest in BL [Boys’ Love] stories and BL kind of content from different Southeast Asian countries,” he shared with Variety, highlighting a niche but rapidly growing genre. Manalang also noted encountering companies actively interested in Filipino content more broadly, signaling a broader appreciation for the diverse narratives emerging from the Philippines.
Liuying Cao of Parallax Films China observed that FilMart proved far more productive for her company than the Berlin European Film Market, attributing this shift to current economic conditions that are driving more Asian buyers towards regional events. “FilMart has been quite busy for us—we had almost three and a half days of meetings nonstop. We got some oral offers already through the meetings, and we’re expecting more deals to be done after FilMart ends,” Cao stated, indicating strong commercial outcomes. Her wish list for the following year, however, included a more geographically diverse buyer pool. “At the moment, our key buyers come from Southeast Asia, Japan and Korea—very traditionally strong markets. But from other territories, we still got less interest,” she explained, expressing hope for broader international engagement in the future.
6. A Market in Motion – and in Transition
FilMart 2026 felt noticeably busier than recent editions, imbued with a palpable energy. However, this vibrancy was accompanied by a clear shift in emphasis, visibly weighted more heavily towards Chinese-language content. Panels and presentations were markedly less likely to offer simultaneous translations into English than in previous years, a change that several English-speaking attendees remarked upon. Some attributed this shift to budget pressures, while others speculated on evolving trade relations and a more internally focused regional market.
Henry Or, a veteran with three decades of experience in the film and television industry, reflected on the market’s evolving identity. “In Hong Kong, when it was a very good time, we had around like over 100 movies a year. But now, maybe less than 20,” he noted, highlighting the contraction of the local film industry. Or posited that FilMart’s future lies in content beyond traditional film. “FilMart is really just the name, but there will be more than just movies in this venue here, because this is where you can really connect yourself to China and to the East as well.” His vision suggests a pivot towards a broader content marketplace, encompassing television, digital formats, and new media.
Ronan Wong, COO and co-founder of AR Asia Production, echoed this sentiment, emphasizing the tangible energy generated by the expansion into new formats. “We feel the vibe in the different format of content—not only movie, TV, AI format, and also vertical drama is heavily discussed this time,” Wong said. He viewed cross-industry cooperation and the adoption of new technology as crucial for efficiency and monetization. “We feel fear sometimes, but actually, when we see the result and we use it, we feel it’s a strong tool to improve our efficiencies, and also in terms of costing and monetization.” Wong also looked ahead to greater crossover between brands and entertainment content, citing promising conversations that emerged at EntertainmentPulse’s Marketing Pulse event.
For Paul D. Kim, despite the evolving character of the market, its overall value remained steadfast. “The more efficient people are narrowed down to stay in the market,” he observed, concluding, “So still productive.” This perspective suggests that even with changes, FilMart continues to serve as a vital, if more focused, platform for industry professionals.
One notable shift was the reduced presence of European buyers and delegates, a gap that the ongoing Middle East conflict significantly contributed to. Airspace closures across the Gulf region from late February, triggered by military strikes on Iran, compelled carriers to reroute Europe-Asia flights around the conflict zone. This resulted in hours added to journey times and soaring airfares, creating a substantial deterrent for European attendees. “People from Europe—I’m not sure if it’s the effect of the war. Before, there were people walking around, you see them everywhere. But now it seems like it’s very Asian-centric in terms of a market,” said Wilfredo Manalang, encapsulating the market’s more regionalized feel this year.
Meanwhile, despite Japan’s ongoing diplomatic tensions with China, a robust delegation of 37 Japanese companies attended FilMart. At the concurrent Hong Kong-Asia Film Financing Forum (HAF), Japan debuted a dedicated Film Frontier section, strategically placing seven Japanese projects across HAF’s various strands. This was a clear signal that Unijapan is actively pursuing an outward-facing strategy, prioritizing international collaboration regardless of bilateral headwinds. The success of this initiative was further evidenced by Japanese projects being among the HAF winners, demonstrating their creative strength and market appeal.
Hong Kong’s own screen industry provided a powerful reminder of the city’s enduring capacity for cinematic excellence. The flashy launch of “Cold War 1994,” an ensemble period thriller boasting a star-studded cast including Chow Yun-fat, Aaron Kwok, Tony Leung Ka-fai, and Louis Koo, generated considerable buzz. The announcement of a highly anticipated sequel to “Twilight of the Warriors,” alongside a sneak peek at the upcoming series “The Season,” further electrified the market floor. These high-profile projects served as compelling proof that Hong Kong content, even in a contracted state, retains its unique ability to captivate audiences and ignite excitement on the global stage, showcasing the city’s resilient creative spirit.
