Uncategorized

Movie ticket prices drop below 10,000 won for 1st time since 2022

People wait in the lobby of a movie theater in Seoul, June 30. Yonhap

The average price of a movie ticket fell below 10,000 won ($7.23) for the first time in two years in the first half of 2024, according to market observers, Wednesday.

Amid the rising cost of living, 10,000 won has been serving as a threshold for determining whether something is cheap or not.

Observers said multiplex cinema chains came up with a range of promotions for moviegoers to buy tickets cheaper than its face value, which mostly exceed 10,000 won.

The promotions included discount coupons and two-for-the-price-of-one deals in a bid to grapple with the rise of over-the-top (OTT) streaming services and the shrinking number of moviegoers, the observers noted.

In a summary report of the Korean film market in the first six months this year, the Korean Film Council (KOFIC) said movie ticket prices averaged 9,698 won over the given time period.

The government-affiliated council explained the price surpassed the 10,000 won for the first time in the January to June period in 2022 and never fell below such a mark until this year.

It analyzed that moviegoers were less interested in going to theaters this year as there were fewer Hollywood blockbusters that were shown on special screens, such as IMAX and Screen X.

The cost to watch a movie on a special screen is higher than that of a standard screen.

But people were willing to pay the price as special screens offer a more immersive viewing experience that streaming services can’t.

Under the circumstances, promotions were inevitable for multiplex cinema chains to sustain their business against streaming services in the first half, a securities analyst for the entertainment sector said.

The analyst said on condition of anonymity that the prospects for movie theaters in the long term remain bleak even if there are more movies 토토 made for special screens.

“Theaters are not well-suited in advanced economies,” he said. “It costs too much to rent spaces, hire staff, pay energy bills and so on, whereas digital technology-based OTT services are free from such costs.”

KOFIC said it did not conduct a study on the prospect of theaters while pointing out that sales have not fully recovered since the pandemic era.

Theaters’ box office sales nationwide amounted to 610.3 billion won in the first half of 2024, a significant increase from the same periods during the pandemic era — 273.8 billion won in 2020, 186.3 billion won in 2021 and 452.9 billion won in 2022.

The 2024 figure, however, is far smaller than sales before the pandemic, including 930.7 billion won in 2019.

In terms of audience, the number totaled 62.93 million for the first half of 2024.

It was higher than the number during the pandemic — 32.41 million in 2020, 20.02 million in 2021 and 44.95 million in 2022 — but far lower than 109.32 million in 2019.

Related Posts

The Most Notable Gambling Industry Fines in Recent Years

많은 사람들에게 알려지지 않은 도박 산업은 가장 존경받는 규제 시장에서도 다소 모호한 측면이 있습니다. 20여 년 전 온라인 도박이 등장한 이후 공정성을 보장하기 위한 방법으로 규제에 여러 가지…

Online Slot Mechanics and the Intricacies of Paylines

온라인 카지노의 세계는 다양한 측면을 가진 다면적인 산업입니다. 의심할 여지 없이 가장 인기 있는 부분 중 하나는 슬롯으로, 연간 천만 달러를 투자합니다. 여러 글로벌 시장에서 플레이어가 이용할 수…

How White Label Companies Shape Modern Gambling

지난 20년 동안 도박 산업(특히 온라인 도박)은 극적으로 발전해 왔으며, 기업들이 시장에서 우위를 점하고 새로운 기회를 찾기 위해 한 번에 여러 방향으로 이동하기도 했습니다. 물론 도박 애호가들은 텔레비전…

Churchill Downs’ Major Impact on the US Gambling and Sports Betting Industries

의심할 여지 없이 지난 몇 년 동안 미국 온라인 도박 시장은 특히 수익 수치 증가를 통해 상당한 인기를 얻고 있습니다. 본질적으로 세계 최대 규모 중 하나가 될 것으로…

2024 김종하배 전국 꿈나무핸드볼대회

2024 김종하배 전국 꿈나무핸드볼대회 성황리 종료… 무안초-진천상산초 우승 쾌거 대한핸드볼협회가 주최한 2024년 마지막 대회인 ‘제9회 김종하배 전국꿈나무핸드볼대회’가 지난 11월 20일부터 25일까지 강원특별자치도 횡성군에서 성황리에 막을 내렸다. 제9회 김종하배…

대한핸드볼협회, 핸드볼 우수 선수 해외

대한핸드볼협회, 핸드볼 우수 선수 해외 특별 훈련 시행 대한핸드볼협회는 핸드볼 우수 선수가 참가하는 해외 특별 훈련을 헝가리 NEKA(헝가리 핸드볼 아카데미)에서 진행하고 있다고 밝혔다. 해외 특별 훈련이 진행되고 있는…

Leave a Reply

Your email address will not be published. Required fields are marked *