Our take...
Until now the market for US video product in Vietnam has been almost entirely pirate. However, foreign investment in areas such as games, mobile, cinema and internet networks is helping to stimulate legitimate entertainment businesses. Sony's move is also indicative of US studios' search for home entertainment growth in hitherto underdeveloped markets in the face of plateauing or declining revenues from established territories.

Sony is also ahead of the pack in India, where it became the first to open an operating company in 2005 (the other majors all distribute through licensees) and now replicates all its own product, a strategy which it claims has quadrupled its Indian business. Other markets currently attracting the attention of Hollywood include Russia - where Universal and Fox have both established local subsidiaries - and China, where Warner operates a joint venture with China Audio Video.