Following the recent celebrations of the same-sex marriage bill, the Thai Content Promotion Association believes Thai LGBTQ-related content has potential for growth if supported by the government, says Worarit Ninklom, a member of the drama and TV subcommittee under the National Soft Power Strategy Committee.
On Tuesday, an upper house meeting passed the final reading of the marriage equality law, making Thailand the first Southeast Asian country to recognise the act.
Mr Worarit, who is also a board member of the Thai Association of Boys Love Content, said Thai LGBTQ series and films remain in demand by the market.
"Thai LGBTQ content has become increasingly popular domestically and internationally because of attractive characters and storylines that present love in school, at working age, or even in the fantasy genre, catering to all viewers' demands," he said.
Mr Worarit said the association estimates that trading on the broadcast distribution rights and other related activities and merchandise of LGBTQ content was worth at least 1 billion baht during the period 2021 to 2023.
The association estimates there are more than 80 LGBTQ series produced each year, with many of them being distributed with the right to broadcast them overseas, while some are on an OTT platform, such as iQIYI, which is China's leading on-demand video streaming platform, he said.
Mr Worarit said he believes the value of the content market will increase, but did not provide an estimate.
The main export markets for Thai LGBTQ content are Japan, Taiwan, Hong Kong, the Philippines and Indonesia, he said.
While the demand for LGBTQ series in China remains strong, China strictly censors LGBTQ content and does not legally recognise same-sex couples.
Future markets would include South Asian countries and Latin America, said Mr Worarit.
While demand for LGBTQ content remains strong, there are challenges ahead, he said.
Mr Worarit said advertising spending among creative industries has decreased.
Many private sectors are opting for experienced or well-known production houses, which left newcomers struggling to locate a sponsor.
Moreover, the streaming platforms have also tightened their criteria for production cooperation.
"They are searching for experienced production houses, which poses a formidable challenge for newcomers," said Mr Worarit.
Mr Worarit said the government could also play a major role in supporting the creative industry by promotiing Thai content in the international market
The government could help the LGBTQ content industry by subsidising the costs of overseas exhibitions or business matching events as well as the establishment of a focal agency to sell content in the international market.
"The existence of LGBTQ content is a reflection of society as it helps people in society understand the changing social values and such content also helps generate income back into the economy," said Mr Worarit.