The Movies, Music, Arts and Communications Cooperative decided to buy the 19-year-old buffalo after seeing its beautiful downward sweeping 2.4 metre long horns in the picture posted on Facebook.
Cooperative chairman Aroon Onglaor said the company paid about 180,000 rupees to the abattoir owner for the animal.
The buffalo was named Ruam Boon ( meaning joining hands to do a good deed) as actors and members of the movie industry pooled to buy it, Bangkok Post reported.
The animal will be taken to the Assawin Production House in Bangkok's Nong Khaem district to be trained for movies, Aroon said, adding that its performance fee would be used to buy food.
It is not known who posted the picture on Facebook. The picture of the animal was posted on Facebook because its horns were similar to the logo used by Carabao, a famous rock band.
Carabao means buffalo in the Philippines language.