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The Rising Movie Market in South Korea
ÀÌÀçÈ£ °­³²Æ÷½ºÆ® Çлý±âÀÚ | ½ÂÀÎ 2024.01.24 19:43

After the end of the pandemic, companies that produce films continued to release their movies on Netflix and other OTT platforms.

They release their movie on Netflix because Netflix is still more profitable to make profits, the rise of ticket prices to inflation or some other economic problems. However, recently, people have started watching movies in theaters again, rather than just at home.

During the pandemic in 2020 and 2021, only 4 million and 1.8 million people, respectively, watched movies in theaters in South Korea. However, in 2022 and 2023, after the pandemic situation improved, there was an increase of more than 4 million in theater audiences within just one year. 

https://images.app.goo.gl/QFi47xmoTpPYZq2M7

The reason why people are watching their movies even with the rising ticket price is because first, the movie market started to activate, which means companies are going to produce more spectacle movies. After all, firms can’t ignore the supply of audience. Furthermore, it’s related to the first reason that people want to feel the feelings in the theater. According to the statistics, there's an increase in the satisfaction rate of the audience who use theater. 

For this reason, people have started returning to theaters to watch movies. This resurgence is beneficial not only to movie firms but also to the nation's economy. For example, from 2010 to 2015, the increase in the audience created more jobs and economic benefits. 

Therefore, the revival of the movie market could make people hope for economic relief in South Korea.


 

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