'Parasite' Enjoys Academy Effect... Screen Count Expands in North America and Beyond

Best Opening for Non-English Film in the UK... Black-and-White Version to Screen in Theaters Domestically at the End of This Month

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jong-gil] The film "Parasite," which won the Academy Award for Best Picture, will increase its number of screens in North America by nearly 1,000 this weekend.

According to Variety and other foreign media on the 10th, the North American distributor Neon will increase the number of screens from 1,060 (as of the 9th) to over 2,000. According to Box Office Mojo, "Parasite" has earned $35,532,519 (approximately 42.08827 billion KRW) in ticket sales in North America as of the 9th. This is the sixth highest gross for a non-English language film ever released in North America. It is expected to soon surpass the $37,634,615 earned by "Pan's Labyrinth," which currently holds the fifth highest revenue.

Winning an Academy Award has a significant impact on a film's box office performance, though not as much as being nominated. The average box office revenue for films released in the U.S. from 2000 to 2009 was $19 million. Films nominated in at least one Oscar category earned $73 million, and those nominated for Best Picture earned $109 million. However, the additional revenue brought by winning Best Picture and Best Director was only $14 million and $10 million, respectively. Other awards brought smaller increases: Art Direction added $12 million, Sound $10 million, Best Actor $1.1 million, and Best Actress $2.3 million.

Recently, films that won the Oscar for Best Picture have seen North American box office revenues increase by around 20%. Last year, "Green Book" saw about an 18% increase (approximately $15 million) after winning. In 2017, "Moonlight" experienced a roughly 20.2% increase. Some box office experts predict that "Parasite" will generate ticket sales between $45 million and $50 million.

"Parasite" is also showing signs of success in the UK, where it was released on the 7th. It earned about ?1.4 million (approximately 2.14 billion KRW) during its opening weekend. Variety reported that this is "the highest opening for a non-English language film in the UK." The local distributor Curzon plans to increase the number of screens from 136 to over 400.

The craze could reignite in South Korea, where the film has already attracted over 10 million viewers. This is because a black-and-white version of "Parasite" will be released in theaters at the end of this month. By adjusting contrast and tone, it is expected to more vividly convey the themes of wealth disparity and social division.