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Korean Box Office has its Highest Earning Third Quarter Ever

2009/10/09 Source

The Korean Box Office made more in this just completed third quarter than it ever has in its history. As well as this not unpredicted result the revenue share of Korean films also increased. This very welcome news that comes amid a projected 3 year film industry slump amongst a general, worldwide recession is due mainly in part to increased ticket prices and a surge of popularity for local films.

Most significantly is the titanic tsunami disaster movie of the year "Haeundae" which has so far managed to pull in 12 million viewings becoming the 5th movie to surpass the 10 million mark. This over shadowed the success of Korean ski jump movie "Take Off" also released in the 3rd quarter which itself passed the 5 million mark becoming the 10th highest grossing film of all time. These two films helped increase the revenue share of Korean films from last year's result of 40.9% to 51.2% in this year's 3rd quarter. International box office hits like Transformers: Revenge of the Fallen and Harry Potter and the Half Blood Prince also assisted with the result.

In this 3rd quarter, an increase in the price of tickets by all major cinema chains also helped to buoy box office revenue. The only glitch was that actual admissions were down around 5 million from 51.29 million this time last year to 46.04 million this quarter.

David Oxenbridge (KOFIC)

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