Slow growth predicted for Korea
Market share for local films to be about halfSEOUL – Korean film market will steadily rise by 1.9% by 2014, with Korean films taking up to half of the market share, according to a recent report on market outlook between 2010 and 2014 by the Korean Film Council.
The report predicted that theater admissions will reach 170 million by 2014, owing to the steady rise of Korean film production despite the general decline of audiences for foreign films. The audience for Korean films is expected to rise by 6% by 2014, while audiences for foreign films will drop by 3%.
The council also estimated that the admission of local theaters is heavily influenced by the top 10 movies in local boxoffice, which takes up about 50% of total admissions. This also means that film admissions in Korea depend largely on releases that are successful quickly.
In sections divided by genre and ratings, action and thrillers with viewer ratings of 12 years and over turned out to attract the most ticket buyers.
“Data from 1997 to 2001 reveals that comedy and action were the most popular genre,” the report said, “while period dramas and historical genres were less favored by local audiences.”