Fri. Mar 29th, 2024

New plans, inventions and services are developing due to the Coronavirus. Businesses are underwaying significant changes, especially theatres and multiplexes. Korean Film Council has started providing coupons in a bid to attract audience back to theatres.

A report from ‘Variety’ states that the public will get a subsidy of KRW6,000 ($ 4.89) on the purchase of tickets from any Multiplex chain or independent theaters. Tickets which normally cost KRW10,000 ($8.15) will now be available at with a saving of around 60 percent.

The KOFIC says that it will provide about 1.3 million coupons for upto 3 weeks. Three major chains in Korea, CJ-CGV, Lotte Cinema and Megabox  provide coupons to the users at the rate of two per person per week. While independent theatre operators will provide at the rate of four person per week.

Korea has one of the highest average attendance rates in the world and the fifth largest box office market. Cinemas in Korea have been reopened but the attendance tracked by KOFIC is very low which sends a warning signal to theatres and exhibitors everywhere in the world.

Even, Hollywood will get affected by this as a large part of their films release in Korea every year. Distributors, scared with current situation are avoiding taking any risks with their big films. Lesser known films and re-runs of previously released films or old films are currently having a demand in the market.

Weekend witnessed Fox’s Underwater as the top grossing film, though was released in North America and Asia in early January. It collected $308,000, while the rerelease of Hugh Jackman’s The Greatest Showman fetched $180,000 on the weekend.

The majority of the theatre owners and distributors expect things to back to normal by mid-July and see no hope of audiences numbers going up during this month.

 

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