The November box office is experiencing a significant downturn due to a lack of notable releases between the Chuseok holiday and the year-end blockbuster season. Daily average attendance has dropped to its lowest level since the lifting of COVID-19 social distancing measures.
According to the Korean Film Council's integrated ticketing system, the average daily audience from November 1 to 13 was approximately 132,000. This marks a 47.2% decrease from the previous month, which had around 250,000 attendees, and is the lowest figure recorded this year. If this trend continues through the end of the month, it could result in the lowest attendance since April 2022, when the average was 104,000. Compared to the same period last year, which saw an average of 246,000, this year's numbers are about half.
This slump is attributed to the typical off-peak characteristics of November, compounded by a decrease in the number of Korean films being produced. Analysts suggest that the concentration of major releases during peak seasons has led to a noticeable decline in smaller commercial films and niche releases that usually support the off-peak months.
The gap left by new commercial films is being filled by established titles with strong fan bases and re-releases. Among the top pre-sale films are the concert film 'Lim Young-woong: I'm Hero - The Stadium 2,' along with re-releases of 'Dune' (2021) and 'La La Land' (2016). In response, theaters are also introducing special screenings, including vertical cinema combined with short-form dramas and IMAX & 4DX re-releases to attract audiences.
This box office chill is expected to persist until next month when major foreign films are set to debut. While 'Snowstorm,' starring Kim Yoon-seok and Go Kyung-pyo, is scheduled for release on November 18, and 'Sad Tropical,' featuring Kim Myung-min, will follow on November 25, industry experts believe these films may not be enough to significantly alter the market dynamics.
However, anticipation is building for the simultaneous release of 'Avengers: Doomsday,' the sequel to the 'Avengers' series after seven years, and 'Dune: Part 3' on December 16, which is expected to revitalize the year-end box office with a showdown of blockbusters.
* This article has been translated by AI.
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