KOFIC Announced the Report on March 2017 Korean Film Industry

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NEWS & REPORTS

KOFIC Announced the Report on March 2017 Korean Film Industry

Apr 18, 2017

Writerby KIM Hyun-jung
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Increased 22.9% of Number of Audiences and 25.2% of Sales from the Same Time Last Year

Korean film industry, which was a slump in February, represented a growth in March compared to last year. The number of moviegoers and the total sales in March 2017 were 13.85 million and USD 98.5 million. They are numbers that grew by 2.58 million (22.9%) and USD 19.9 million (25.2%), respectively.

The market share of local films was 31.5%, much less than 68.8% of foreign films but more than the same period last year. The number of viewers and ticket sales for domestic films in March were 4.37 million and USD 30.47 million respectively. It is 340,000 (8.3%) and USD 3.06 million (11.1%) growth from the same time of 2016. Meanwhile, the viewers and sales for foreign films were 9.48 million and USD 68 million, which rose by 2.24 million (31.0%) and USD 16.8 million (32.8%) compared to the same time of previous year.

The reason that foreign films keep hoovering up market share is a chain of Hollywood blockbusters such as Beauty and the Beast, Logan and Kong: Skull Island. Number one at the Korean box office in March was Disney’s Beauty and the Beast, which was released on March 16th and brought 3.55 million spectators, followed by the last Wolverine series Logan with 2.06 million viewers. Crime action The Prison, monster blockbuster Kong: Skull Island and local thriller Bluebeard ranked third, fourth and fifth drawing 1.81 million, 1.68 million and 1.2 million viewers, respectively.

Also, market share of Hollywood distributors was remarkable. The Walt Disney Company Korea, which distributed Beauty and the Beast and three more, took first place with 3.56 million filmgoers and 25.7% market share. 20th Century Fox Korea which distributed four movies including Logan and Hidden Figures was second with 2.29 million admissions and 16.5% market share, while Showbox which distributed The Prison ranked at the third with 1.81 million viewers and 13.1% market share.

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