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Korea Box Office Returns to Depressed Levels
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variety.comPatrick Frater Asia Bureau ChiefKorean theatrical box office slipped back into its rangebound new normal over the weekend, with nationwide gross takings of just $3.32 million between Friday and Sunday.
That suggests that the previous weekend’s $4.7 million total was an exception driven by the Lunar New Year festivities.Until audiences rediscover an appetite for film in cinemas, and until distributors are ready to release significant new titles the Korean box office appears trapped between $3 million to $4 million per weekend.That is pushing Korea’s multiplex chains into further pain.
With revenues falling by an average of 70% in 2020 all three major operators lost money last year. CJ-CGV’s net loss last year was KRW745 billion ($672.
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