In 2024, Thailand accounted for over 53% of Boy's Love series broadcast in Asia, followed by Japan with 13%, South Korea with 9%, and Taiwan with 6%. Meanwhile, Thai Girl's Love series accounted for over 63% of all Asian series, followed by the Philippines with 16% and South Korea with 9%.
Today, Business Plus reviews the revenue and profits of Thai BL (Boy's Love) series production companies.
Let's start with GMMTV, a major label whose strength lies in its massive production volume, continuity, and commercial viability. They connect all their artists through series, online programs, and large-scale events, allowing fans to follow various artists and also attracting external audiences. Another key strategy is their "mascot," which serves as a link between artists and fans and generates its own value. This model creates a structural advantage, generating total revenue of 2,463 million baht and a net profit of 126 million baht in 2024.
Next is CHANGE2561, a subsidiary of The ONE Enterprise. While not specifically a Boys' Love (BL) production company, the company is beginning to expand into series that reach a wider audience and are less reliant on a specific couple's fan base. Instead, they market themselves with high-quality, engaging content, generating revenue that relies less on fan trends and more on the quality of their work. In 2024, the company had total revenue of 442 million baht and a net profit of 25 million baht.
Next is Domundi (DMD), which focuses specifically on the Boys' Love (BL) market. DMD excels at nurturing new artists, building strong relationships with fans from the outset. This has generated a loyal fan base and enabled continued commercial expansion. A review of past financial statements shows that Domundi's total revenue and net profit have steadily increased. In 2024, total revenue reached 413 million baht and net profit was 29 million baht.
Ultimately, Be On Cloud (BOC)'s appeal lies in its unique production style and style, its willingness to experiment with unconventional content, and its inclusion of profound and diverse social issues. This has allowed it to expand significantly into the global market. However, its reliance on the success of individual projects has led to revenue volatility, as reflected in its 2024 financial results, which showed total revenue of 167 million baht and net profit of 15 million baht, a decrease from its peak in 2022. This reflects the challenges of a business model driven more by content than long-term fan engagement.
Currently, the BL (Boys' Love) series industry is more robust than traditional entertainment media because it relies not only on revenue from the series itself but has expanded to include fan meetings, concerts, endorsement deals, and merchandise, leveraging its popularity to generate long-term revenue.
Thai BL (Boys' Love) series continue to show growth potential in the global market. Key challenges include maintaining the quality and diversity of content, building a fan base, and penetrating new markets. If these aspects are addressed effectively, the industry can evolve from a mere "trend" to a valuable economic asset and source of soft power for the country.
Source: SCB EIC, company website.
#MeAndThee #GoddessBlessYouFromDeath #Khemjira #Shine #GMMTV #Change2561 #Domundi #BeOnCloud #TBL