CGV to Raise Movie Ticket Prices from April 4... Third Increase Since Pandemic

On the 18th, CGV Yongsan I'Park Mall in Seoul was less crowded than usual. On this day, CGV announced that it will raise movie ticket prices by 1,000 won starting from the 2nd of next month to overcome the crisis caused by the prolonged COVID-19 situation. Photo by Moon Honam munonam@

[Asia Economy Reporter Lee Isul] Multiplex cinema CGV announced on the 25th that it will raise movie ticket prices starting April 4th. This is the third increase since the pandemic.

CGV stated that movie ticket prices will be raised by 1,000 to 5,000 won to overcome the COVID-19 crisis.

Accordingly, the weekday adult 2D movie ticket price will increase by 1,000 won to 14,000 won, and the weekend price will be adjusted to 15,000 won. Special technology theaters such as IMAX, 4DX, and ScreenX will increase by 2,000 won, while premium theaters like Cine de Chef, Temper Cinema, and Gold Class will increase by 5,000 won. Movie Money (movie tickets) will also be raised accordingly.

Discounted rates for soldiers, police officers, firefighters, persons with disabilities, and national merit recipients are excluded from this price increase.

A CGV representative explained, "Due to restrictions such as limited operating hours and spaced seating, the number of viewers has sharply declined, and major anticipated releases have been postponed, worsening the vicious cycle in the film industry. Losses have accumulated, intensifying the management crisis, and the entire industry ecosystem including production, investment, and distribution can no longer endure, making the price increase unavoidable."

Over the past two years, CGV's cumulative domestic operating loss amounts to 366.8 billion won, recording losses for 25 consecutive months since February 2020.

Previously, CGV and the other two major multiplex chains raised movie ticket prices in October-November 2020, and again increased prices from April to June last year, just six months later.

This content was produced with the assistance of AI translation services.