“Netflix is more fun, so why go to the cinema?” (Employee K)
“It costs 30,000 won per person to go to the cinema. With that money, it’s better to watch Netflix as much as you want.” (Housewife P)
Movie theaters are taking a direct hit under Netflix. It looked like it would recover after Corona, but many people are now flocking to Netflix instead of movie theaters. Due to the continuing deficit, every movie theater is clamoring for “a board that needs to be closed토토사이트,” “it’s ruined,” and “it’s worse than the time of COVID-19.” CJ CGV
, which has the largest multiplex cinema in Korea, recorded a loss of 14.1 billion won in the first quarter of this year alone. The deficit has narrowed, but contrary to expectations that it will recover after the corona, it has still been in the red for over two years. CJ CGV has also significantly reduced its size through intensive restructuring such as voluntary retirement and unpaid leave.
According to data recently announced by the Film Promotion Committee (Young Jinwi), the number of Korean moviegoers in April was 1.73 million, which did not exceed 2 million for three consecutive months. Before Corona, the number of moviegoers in Korea reached an average of 4 million per month. It’s like it’s cut in half. The highly anticipated movie ‘Dream’ with IU at the fore also failed to become a relief pitcher.
As film production personnel flock to online video service ( OTT ) video production, the competitiveness of OTT content is strengthening, but the competitiveness of movies released in theaters is rather weakening. Since its actual release, it has failed at the box office one after another. Among the Korean films released this year, not a single one has surpassed the break-even point. Compared to Netflix content, it is evaluated that the competitiveness of movies screened in theaters these days is not high.
The ticket price, which was around 10,000 won from 8,000 won before the corona, also rose to 15,000 won. A visit to the cinema costs an average of 30,000 won per person, including movie tickets and snacks. In this case, it is true that many people think that it is better to watch Netflix to their heart’s content at home.
Mr. K, an office worker, said, “The cost is higher, but the movies screened in theaters are less fun than Netflix.”
On the other hand, the number of domestic OTT app installers exceeded 30 million. In other words, it has emerged as a major media to replace the movie theater. According to ‘Wise App Retail Goods’, an app and retail analysis service, as of April, the number of installers of major OTT apps such as Netflix, Wave, Teabing, Coupang Play, and Disney+ was counted at 30.08 million. This is an increase of about 7.5% compared to the same period last year (29.79 million people). Looking at the number of users and usage rate by OTT
as of April, Netflix took the overwhelming first place with 11.56 million users and 63.6%. The number of users reached 2.5 times that of Coupang Play, the second place, and the usage rate was nearly 20 percentage points higher than the second place Teabing. Netflix has been shown to grow by millions of users each year.