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'50-50 Profit Sharing Needed in Film Industry'

2006/02/13 | 189 views | Permalink | Source

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The Seoul Theater Association has asked domestic film distributors to accept an equal ratio for profit distribution for foreign films.

The association on Monday said distributors should get half of the profits from foreign movies instead of 40 percent as proposed by the Association of Korean Movie Producers.

The cinema association urged the adoption of the new ratio given shrinking box-office profits from fewer viewers, the rising cost of promotional events and the growing burden of ticket discounts.

Domestic film distributors have yet to announce their stance on the request, while direct importers only said they notified their headquarters.

The 40-60 ratio is used in the Seoul metropolitan area, whereas theaters elsewhere split profits 50-50.

Reported by KBS WORLD Radio

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