Theatrical box office was up 3.1% while admissions also grew; local films took 52% of admissions.
South Korea’s film industry grew 4.2% last year to rack up a record KW2.1 trillion ($1.7bn), according to the Korean Film Council (KOFIC). The governmental organization says the growth is due to increase in box office and ancillary sales.
Theatrical box office was up 3.1% to a record $1.4bn (KW1.71 trillion).
Admissions also went up 1% to a record 217 million, meaning South Koreans saw an average of 4.22 films per person last year. Overall, local films took 52% of admissions in 2015. Local films clocked up 112 million admissions, up 4.9% from the previous year, while foreign films took 104 million, down 2.8%.
TV and internet VOD demand contributed to the growth of the digital online market which saw a 12.7% jump to $270m (KW334.9bn). IPTV grew 15.7% to make up for 78% of ancillary markets, while internet VOD grew 16.7% compared to 2014.
According to KOFIC, exports for the Korean film industry were down 12% to $55.5m due to less demand for local film servicing from international productions, such as the location shoot for The Avengers: Age Of Ultron.
However, sales for completed films went up 11.3% to $29.3 million. This was made up of $16.8m for contracts signed in 2015 plus overages from films previously sold.
The latter saw a massive 62% jump to $12.5m due to increases in foreign box office receipts and profits from films sold to China in 2014 that saw additional sales in ancillary markets.
A total of 121 more films than 2014 sold overseas, bringing last year’s total to 650 films exported.
Box Office Top 10
1. Veteran (S. Korea) 13.4 million, CJ E&M
2. Assassination (S. Korea) 12.7 million, Showbox
3. The Avengers: Age Of Ultron (US) 10.4 million, Walt Disney Company Korea
4. Ode To My Father (S. Korea) 8.9 million, CJ E&M
5. Inside Men (S. Korea) 7.2 million, Showbox
6. The Throne (S. Korea) 6.2 million, Showbox
7. Kingsman: The Secret Service (UK-US) 6.1 million, 20th Century Fox Korea
8. Mission Impossible - Rogue Nation (US) 6.1 million, Lotte Entertainment
9. Northern Limit Line (S. Korea) 6 million, NEW
10. Jurassic World (US) 5.5 million, Universal Pictures International Korea