Coronavirus hits hard on CJ ENM and local film scene
CJ ENM's multiplex cinema chain CGV in Busan is seen empty Saturday due to the spread of the new coronavirus that is convincing movie lovers to stay home. / Yonhap
By Kim Jae-heun
One of the country's leading entertainment companies, CJ ENM expects to experience reduced profits as major film theaters are planning to delay new releases in the wake of the rapid spread of COVID-19, with nine fatalities confirmed here as of 4 p.m., Tuesday.
CJ ENM had planned to release a black-and-white version of the Oscar-winning film “Parasite,” directed by Bong Joon-ho, Wednesday. But this was put on hold following the government's decision to raise its infectious diseases alert to the highest level as the virus continues to spread.
“Currently, we are not sure when we will screen the black-and-white version of Parasite. We are sorry to those who have been waiting for it. We will announce updates after checking the situation, and a release date when things improve,” a CJ ENM official said.
The government issued warnings not to attend public events including movie theaters due to the high chances of contact with infected individuals.
According to the Korean Film Council, only 77,071 people visited cinemas nationwide Feb. 24. This is the first time in 16 years that daily audiences fell below 80,000. On May 31, 2004, 67,973 moviegoers went to cinemas ― the lowest number on record. Last month, only 16.84 million visited theaters, a decrease of 7.1 percent, year-on-year.
Other South Korean multiplex cinema chain operators are set to see a plunge in sales this month as the epidemic worsens. The degree of conflicting information coming out in Korea about the virus speaks volumes about how dangerous it can be.
The virus is known to spread from direct contact and droplets from coughs and sneezes, but it may also easily become airborne allowing it to move farther than thought before, government officials and authorities in China and Japan have said.
Considering the gravity of the situation, leading multiplex cinema chains have closed down half of their movie theaters in Daegu.
Lotte Cinema has cut down on operating hours for several movie theaters in the city at the epicenter of the rapid spread in Korea.
Box office sales for much anticipated releases have been weak.
The new thriller “Beasts Clawing at Straws” has been popular with audiences since its release in cinemas. However, it has yet to hit the 400,000 ticket sales mark on the sixth day since its release. The current top ten films are showing an average three out of 100 seats are being filled.
Many anticipated foreign films have either canceled press conferences or delayed opening dates.
Universal Pictures canceled a media preview for “The Invisible Man” a day before the scheduled event. The American film studio said the hurriedly-announced decision was due to concerns over the spread of the deadly virus.
The opening of Disney Pixar's animation “Onward,” has been delayed for a month. The American animation film studio did not state an exact date for the film's release but said the movie will open in theaters in April. The film's media preview was also postponed.