[Focus] Searching for Cinema Romance... "Popcorn is Welcome" vs "Admission Fee is Burdensome"

[Image source=Yonhap News]

원본보기 아이콘

[Asia Economy Reporter Lee Isul] There is a certain sensation that comes to mind when thinking of movie theaters. The savory smell of popcorn, the sharp taste of cola on the tongue, and the tension that fills the darkened theater all create a pleasant feeling. You laugh louder with family or friends sitting next to you during funny scenes, and feel relieved knowing you are not alone during scary moments. In this way, the cinema is quite a romantic space.

For the past 2 years and 1 month, we have forgotten that romance. While movie theaters became distant due to the impact of the novel coronavirus disease (COVID-19), online streaming services (OTT) filled the gap. An era has arrived where anywhere and anytime can become a theater. OTT is convenient. Smartphones, TVs, and laptops become screens. Because it is free from the constraints of space and location, content consumption has greatly increased. When 'Squid Game,' released on Netflix in September last year, gained worldwide popularity, the era of K-content dawned. Although investment in content production concentrated and the market became saturated, movie theaters suffered astronomical losses.

Just as audiences longing for the nostalgia of enjoying movies in theaters were increasing, social distancing measures were lifted. On the 25th, eating and drinking inside theaters classified as multi-use facilities was permitted, allowing people to enjoy cola and popcorn while watching movies again.

The film industry is welcoming this change enthusiastically. They are reviewing the long-postponed release schedules of new films and engaging in intense strategic maneuvering. Starting with Marvel's 'Doctor Strange in the Multiverse of Madness' in May, the R-rated box office hits 'The Outlaws' and 'The Bad Guys' will open the gates, followed by June's Cannes-invited films 'Broker' by Hirokazu Koreeda and starring Song Kang-ho, Park Chan-wook's 'Decision to Leave,' Marvel's 'Thor: Love and Thunder,' the popular series 'Jurassic World: Dominion,' and July's 'Minions 2,' all lined up for release. Large domestic blockbusters preparing for summer market releases are also expected to pour in.

Will movie theaters regain their usual warmth? The three major theater chains are putting all their efforts into promotion to attract back the audiences who left. Will the departed audiences return? It is undeniable that the film content market has changed over the past two years. The market has changed, and consumption patterns for enjoying content have also evolved. Will audiences flock again to theaters dusted off and showcasing dazzling new releases?

On the 25th, when the COVID-19 infectious disease classification was downgraded from level 1 to level 2, an employee was making popcorn at CGV Yongsan I'Park Mall in Seoul. Starting today, eating and drinking are allowed in indoor multi-use facilities such as movie theaters, sports venues, stores, marts, and department stores, as well as on public transportation including buses, subways, and taxis. Photo by Moon Honam munonam@

원본보기 아이콘

[Image source=Yonhap News]

원본보기 아이콘

A film industry insider said, "Starting from May and June, there are an enormous number of new releases scheduled. From the Marvel blockbuster that draws tens of millions to major Korean films, movies will pour in like a bombardment," adding, "Surely everyone has at least one new release they want to see. The film market will revive starting this summer."

He continued, "The important thing is what happens next. It remains to be seen whether audiences who visit theaters after a long time will regain their nostalgia and trust in cinemas or adopt the changed movie-watching habits that emerged after the pandemic."

The insider also noted, "In that sense, this summer's film market is very important. The qualitative aspect of the films being released is as crucial as the total number of theatergoers," predicting, "If theaters lose trust during this period, audiences will choose alternatives."

Some voices express concern about the increased ticket prices being burdensome. Currently, the adult 2D movie ticket price at multiplex CGV is 14,000 KRW on weekdays and 15,000 KRW on weekends. Watching a movie in an IMAX theater costs 20,000 KRW per person.

On the afternoon of the 26th at CGV Yongsan in Seoul, audience member Choi Min-young (25) said, "It's been a while since I came to the theater, and I feel excited watching a movie while eating popcorn for the first time in a while." She added, "Now, buying a meal, drinks, and popcorn to watch a movie costs about 100,000 KRW. On weekends, just the ticket price for two people is 30,000 KRW. I wonder if people will still say let's watch movies casually like before. Watching movies in theaters is enjoyable, but the increased ticket prices are somewhat burdensome."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.