Theaters hit by 'August shock' as audience plunges by 3 million
"Land of Happiness," starring Jo Jung-suk and Lee Sun-kyun, fell short of expectations, drawing only 690,000 viewers as of Sunday. Courtesy of NEW
August, typically considered the peak season for cinemas, was far from being busy for theaters this year.
The total number of moviegoers dropped by around 3 million compared to last year, casting doubt on the month's reputation as a prime box office season. Analysts attribute this drop to a lack of compelling films to attract large audiences.
According to data from the Korean Film Council, the total number of moviegoers in August was 11.8 million, down by 2.8 million from August last year.
This is also a decrease of 250,000 from July this year. Typically, theaters see more foot traffic in August than in July, but that wasn't the case this year.
The weakening of the "new release effect" is being cited as a key reason for the decline in cinema audiences. Analysts say that the films released in August were not good enough to draw viewers to theaters.
"Alien: Romulus" had the highest audience turnout among August releases but still managed to attract only 1.63 million viewers as of Monday. Courtesy of Walt Disney Company Korea
Overwhelming films, diverse ticket prices needed
August would have been even worse if not for the comedy film "The Pilot," starring Jo Jung-suk, released on July 31, which recorded 4.5 million viewers as of Monday.
An official from an investment distribution company said, "The expectation from distributors and multiplexes that several medium-sized films could together create a market as large as one blockbuster was completely off the mark. To expand the box office, we need overwhelming films that can provide the unique experience of watching in a theater."
There is also a growing argument that the concept of the "summer peak season" has become meaningless. Since the COVID-19 pandemic, audience viewing patterns have changed, making the distinction between peak and off-peak seasons less clear, with summer becoming the same as other periods.
"Korean theaters are the most affected by the combined negative impact of COVID-19 and online streaming services, making market recovery difficult," film critic Oh Dong-jin said. "We need to find a breakthrough by diversifying ticket prices based on day, time and type of movie."
This article from the Hankook Ilbo, a sister publication of The Korea Times, is translated by a generative AI and edited by The Korea Times.