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KOFIC News

KOFIC’s 2014 February Film Industry Report

Mar 18, 2014
  • Writerby June KIM
  • View5215
 
Total monthly theatre attendance for February was 18.54 million which was a 15% decrease from last year’s figures. Revenue also went down 12.2% to USD 138.7 million. Most of the films that did well in the box office in February were January releases. Of those titles, only Miss Granny and Frozen surpassed the one million admissions mark. It is without a doubt that having the Korean New Year (Seollal) in January instead of February this year impacted the numbers for the winter.
 
The market share for Korean films was 53.4% with 9.9 million admissions, and revenue reached USD 71.6 million. In the top ten box office titles, seven films were Korean with Miss Granny (5.26 million admissions) at the top with the most ticket sales. Other titles saw mediocre admissions records with Man In Love (880,000), Tabloid Truth (850,000), and Venus Talk (690,000).
 
Admissions for non-Korean films were 8.64 million, with revenue of USD 67.1 million. Frozen alone saw 5.05 million admissions and secured the second spot at the box office with 9.86 admissions in total. With its ongoing popularity, it became the first animation in Korea to reach ten million admissions on March 3rd. 
 
If we look at the distribution companies, CJ Entertainment had the highest audience share with their released titles including Miss Granny, whereas Sony Pictures Releasing Walt Disney Studios (Korea) had two titles including Frozen and was in second place with an audience share of 32.5%.
 
Korean and American films hold 97.3% of total audience share, dominating the Korean film market
 
Out of the top 10 list, Korean films secured seven spots and American films took three. While the two industries have dominated the Korean film market for a long time, it is unfortunate to see an audience of just 1.4% for Japanese films and less than 1% for other nations.
 
Diversity in Film: Inside Llewyn Davis and Popular Re-runs
 
Inside Llewyn Davis received unexpected attention with 76,000 admissions as it lead the group of non-commercial films. The re-run of Bernardo Bertolucci’s The Dreamers (2003) attracted 11,000 to take fourth place in the diversity film category. Korean titles were not able to hit the top ten list in this section, although Intruders and My Place were 11th and 12th respectively.
 
TABLE 1: Top Ten Box Office (February, 2014)
 
Rank
 
Title
 
Distributor
 
Release
 
Country
 
Screens (#)
 
Revenue
 
(100,000 USD)
 
Admissions
 
(10,000)
 
1
Miss Granny
CJ Entertainment
2014-01-22
Korea 
1,024
380
526
2
Frozen
Sony Pictures Releasing Walt Disney Studios (Korea) Inc.
2014-01-16
USA 
973
412 
505
3
RoboCop
Sony Pictures Releasing Walt Disney Studios (Korea) Inc.
2014-02-13
USA
627
71 
95
4
Pompeii
Lotte Entertainment
2014-02-20
USA, Germany
562
66
89
5
Man In Love
NEW
2014-01-22
Korea
468 
64
88
6
Tabloid Truth
CJ Entertainment
2014-02-20
Korea
560
63
85
7
Venus Talk
Lotte Entertainment 
2014-02-13
Korea
591 
51
69
8
Another Family
OAL
2014-02-06
Korea
192
32
46
9
The Attorney 
NEW
2013-12-18
Korea
410
30 
41
10
Hot Young Bloods
Lotte Entertainment
2014-01-22
Korea
409
26 
36 
 
* Source: http://www.kobis.or.kr/kobis/business/stat/offc/searchOfficDistTotList.do
* Number of screens are determined by taking the maximum number of screens activated during the first week of the film’s release

TABLE 2: Top Ten Box Office Diversity Films (February, 2014)

Rank
 
Title
 
Distributor
 
Release
 
Country
 
Screens (#)
 
Revenue
 
(1,000 USD)
 
Admissions
 
(1,000)
 
1
Inside Llewyn Davis
Bloomage
2014-01-29 
USA 
70
593
76
2
Blue Is the Warmest Color
PANCINEMA
2014-01-16
France
53
143
19
3
Like Father, Like Son
Twentieth Century Fox Korea
2013-12-19
Japan 
31
101
13
4
The Dreamers
AUD
2005-03-25
France
23
83
11 
5
The Great Passage
Daou Tech Inc.
2014-02-20
Japan
25 
54
7
6 
Only Lovers Left Alive
Challan 
2014-01-09 
UK
13 
25
3
7
Museum Hours 
Film JoseE  
2014-01-23
Austria 
8 
17
2
8 
Still Mine 
SYcomad
2014-02-20 
Canada 
16
15
2
9
The Nun 
Greennarae Media 
2014-01-23 
France
14 
14
2
10 
Cinema Paradiso
Pop Entertainment
1990-07-07
France
1
4
2 
 
* Source: http://www.kobis.or.kr/kobis/business/stat/offc/searchOfficDistTotList.do
* Number of screens are determined by taking the maximum number of screens activated during the first week of the film’s release
* USD amounts are approximate conversions
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