Entertainment industry leaders confront challenges shaping the future

It is a constant balancing act between art and commerce. For instance, Hollywood studios often choose between producing an independent, artistically ambitious film that poses a significant financial risk, or a blockbuster based on an established brand that is easy to market but may lack innovation. Similarly, South Korean companies such as SM Entertainment and HYBE must weigh the proven success formulas of past K-Pop generations against experimenting with new musical concepts to appeal to a global audience. BTS’s achievements under HYBE, with socially-minded music rather than content aimed solely at the Korean market, demonstrate how innovative creativity can lead to worldwide acclaim.

Entertainment industry leaders must cultivate a corporate culture that encourages and protects creativity. This involves persuading investors of the long-term value of artistic projects while discovering new business models to reduce risk. Producing “localised” content, as Netflix did with the Korean drama Squid Game, is a prime example. By blending local storytelling with a global distribution network, they proved that a unique, creative product can achieve massive success without compromising its artistic identity.

The entertainment industry depends heavily on people—artists, actors, singers, production crews, writers and marketing teams. Managing talent goes beyond contracts or salaries; it requires creating a healthy, sustainable working environment where careers can flourish and long-term contributions are possible.

One of the greatest challenges is striking a balance between maximising artists’ potential and safeguarding their physical and mental wellbeing. Companies must train and nurture young talent while handling complex issues such as personal crises, scandals and public scrutiny. In South Korea, discussions about “slave” contracts and psychological pressure have prompted major entertainment firms to reform management practices and prioritise the mental health of their artists.

In Vietnam, entertainment companies face similar challenges in retaining talent and cultivating professional teams capable of competing internationally. Investing in training, developing skills and fostering a transparent, respectful working culture is key to attracting and keeping top talent. Successful leaders are those who not only shape business strategy but also inspire and unite their teams, ensuring every member feels valued and motivated to contribute.

The world of entertainment is constantly evolving, driven by technological advances. From traditional television to streaming platforms, from physical music to digital formats, and now the rise of the metaverse and AI, leaders must remain ahead of the curve to avoid being left behind.

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A typical example is the intense competition among streaming platforms such as Netflix, Disney+ and Apple TV+. The rise of these “giants” has transformed the way audiences consume content, creating significant challenges for traditional entertainment companies. Entertainment industry leaders must invest in new technologies while also rethinking business models, shifting from selling music or movie tickets to offering compelling subscription packages.

In Vietnam, the trend of “shop entertainment” on platforms like TikTok is growing rapidly. Leaders need to adapt quickly, integrating entertainment content with e-commerce and leveraging livestreams and short videos to engage audiences. The challenge lies not only in mastering the technology but also in understanding the mindset of a generation that seeks convenience and multi-dimensional experiences.

Leaders face a range of legal issues and media crises, from copyright infringement and lawsuits to personal scandals involving artists that can seriously damage a company’s reputation.

In Europe, intellectual property protection is increasingly stringent, requiring companies to comply rigorously with rules on content, background music and imagery. Even a small oversight can result in hefty fines and reputational loss. In Vietnam, copyright breaches on digital platforms remain widespread, demanding that leaders implement effective strategies to safeguard intellectual property.

When a media crisis arises, speed and transparency are crucial. Leaders need a professional team ready to manage information, issue official statements and offer apologies when necessary. The way K-Pop companies handle scandals involving artists highlights the importance of a structured risk management strategy. A slow or misleading response can irreparably harm the reputation of an entire corporation.

Expanding overseas is an ambition for many entertainment companies, but it is a complex undertaking. The greatest challenge lies in cultural differences and audience preferences. Success in a domestic market does not guarantee acceptance abroad. Leaders must conduct thorough research, learn about local cultures, and tailor marketing strategies and even content to suit each market. The Hallyu wave owes its success not only to music but also to a sophisticated global marketing strategy that builds strong fan communities and leverages social media.

Political and economic fluctuations also have a direct impact on international expansion. Trade policies, national content restrictions or geopolitical tensions can all pose obstacles. Leaders must anticipate risks and establish sustainable partnerships to mitigate potential negative effects.

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