The film industry has indicated that streaming platforms have accelerated their subscriber acquisition efforts within the Asian market by investing significantly in local content; however, the Hong Kong market has faced challenges in capitalizing on this trend.

Producer and actor Tenky Tin Kai-man, former chairman of the Federation of Hong Kong Filmmakers, noted that the industry has been in communication with platforms such as Netflix to secure film purchases or investments.

However, he revealed that the investment amount has been greatly reduced due to a shorter copyright duration of three months instead of one year. 

Despite the higher investment in original films, Tin stated that Hong Kong films might not have the advantage of competing.

As Netflix’s vice president of content for Asia (excluding India) comes from South Korea, Tin speculated it might give Korean films a “natural advantage.”

Moreover, Tin observed that recent popular Chinese-language films on streaming platforms frequently incorporate elements of the supernatural, LGBTQ+, or crime genres. 

These genres were historically regarded as strengths of Hong Kong cinema; however, their prominence has diminished in the current landscape as filmmakers seek to comply with the regulatory framework imposed by film censorship in mainland China.

Tin expressed concern about the present film industry’s lack of diversity, noting that there are either substantial co-production films aimed at the mainland market or low-budget films that emphasize the city’s social issues.

Tin indicated the freedom for film production in the city, whereas other locations may also require permissions or reviews but filmmakers have become more cautious of proactive themes because of the sensitive audience, reducing the competitiveness of local films.

Local film producer Amos Wong Ho-yin disagreed with the notion that Cantonese films have a small audience, claiming that more than 100 million people speak the language, compared to 70 million who speak Korean, with 20 to 30 million North Koreans unable to watch South Korean films. 

Wong emphasized that the key to attracting investment is to develop cultural soft power, which is linked to economic strengths, citing examples like the global appeal of South Korean vehicles, smartphones, and appliances, which naturally boosts interest in Korean films and K-pop. 

A recent film, The Pig, the Snake and the Pigeon, directed and written by Hong Kong director Wong Ching-po faced a mediocre box office performance in the city, but it became a hit after shifting to Nefllix,  demonstrating the potential of streaming platforms to promote local work.