▲ This file photo shows a multiplex cinema. (Yonhap)

 

▲ This photo, provided by Wiseapp, shows the graph displaying the increase of ticket sales from 3 major theaters CGV, Megabox, and Lotte Cinema. (PHOTO NOT FOR SALE) (Yonhap)

 

 

SEOUL, June 14 (Yonhap) – The scale of financial transactions confirmed cinema districts, which have suffered severe recession due to COVID-19 outbreak, are rapidly recovering with the lift of social distancing regulations.

According to industry tracker Wiseapp, the past month, total amount paid by CGV, Lotte Cinema, and Megabox, was estimated at 147.5 billion won. It is the highest since February 2020.

This is a record close to 158.4 billion won per month in major movie theater transactions from May 2019, before the outbreak of COVID-19, around 11 times higher than May 2020 (13.5 billion won) during the pandemic, 3.7 times higher than May 2021(39.7 billion).

This data was based on the amount paid by Koreans over the age of 20 for application, retail analysis service Wise App, Retail, and Goods from three domestic theaters last month counting transactions with credit cards, debit cards, account transfers, and micropayments. The transactions paid through corporate card, corporate account transfer, Business-to-Business transaction, cash, gift certificate, and simple payment were not included.

Previously, data from the Korean Film Council (KOFIC) shows the number of movie audiences who visited movie theaters in May almost recovered to pre-pandemic level.

According to KOFIC’s Box Office Information System (KOBIS), the number of views in May was 14.55 million, being the highest in 28 months since January 2020, which was 16.84 million just before pandemic. Compared to 3.12 million people in April, it is a 366% increase. It is the first time that monthly audiences have exceeded 10 million since the pandemic.

(This article is translated from Korean to English by Kwon Yoonseo)

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