"Chuseok Holiday, What Should We Watch?" Film Industry Holds Back... Audiences Drift Away

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[Asia Economy Reporter Lee Isul] "Chuseok holiday? There are no movies I want to see in theaters, and I can't travel, so I'll just watch new releases on OTT at home."

Is there any Chuseok holiday as sparse as this? A five-day golden holiday from the 17th to the 22nd. In previous years, this was the time when each distributor competed to promote movies and put all their efforts into releases to attract audiences. How about this year? Some say, "There aren't many movies worth watching in theaters, so there's no reason to visit cinemas," expressing their disappointment.

Lotte Entertainment released the movie Miracle (director Lee Jang-hoon), starring actors Park Jung-min, Lee Sung-min, and actress YoonA (Im Yoon-ah) from the girl group Girls' Generation, in theaters on the 15th. According to the Korea Film Council's integrated ticket sales system, the movie attracted only 30,969 viewers on its opening day.

On the same day, CJ ENM presented Voice (directors Kim Gok and Kim Sun), a movie about voice phishing crimes starring actors Byun Yo-han and Kim Mu-yeol. It drew 47,249 viewers on its opening day, showing a similar level to Miracle. Can these two movies, lonely guardians of the theaters, attract audiences during the Chuseok holiday?

This year, there are not many new movies with fresh banners during the Chuseok holiday. Only two notable Korean films stand out. Compared to the long holiday, the lineup is quite sparse. It looks as if only kimchi and seasoned seaweed are served on the table without meat side dishes or warm soup. Unfortunately, this Chuseok holiday, audiences are unlikely to have the opportunity to watch good movies in theaters. Those who hoped to relax at the cinema will inevitably feel disappointed. In this way, the film industry seems to be keeping its distance from audiences, as if practicing social distancing for COVID-19 (novel coronavirus infection) themselves.

It is understandable why some hesitate to release movies. It is the result of strictly calculating based on commercial logic.

A film industry insider, Mr. A, said, "Since theaters are not crowded, it is obvious that losses will occur, so we cannot just show movies we worked hard to make. The number of screenings is also limited," adding, "Some movies that were released with partial support last summer still couldn't avoid losses. Given such circumstances, we have no choice but to be more cautious."

Since the emergence of COVID-19, movie theaters as multi-use facilities have struggled to attract even 3 million viewers, let alone 10 million. Many large-scale movies have postponed their releases simultaneously. There are even complaints that completed movie sources are piling up on web hard drives. Dozens or hundreds of films remain unreleased, gathering dust.

So, is postponing releases the only option?

Active film industry insider Mr. B said, "The best way to bring audiences to theaters is to provide good movies. Although the market situation is difficult, if the content is good, audiences will come. Didn't some recently released movies prove this?" He pointed out, "Before the film industry collapses and complains about difficulties, it is time to reflect on whether it is protecting itself too much."

He explained that this atmosphere is even more regrettable because movies like Fast & Furious and Mogadishu had provided clues to attract audiences to theaters ahead of Chuseok. Some movies decided to release after receiving half of their production costs from the theater association, but the fact that well-made content attracted audiences is significant. There are voices lamenting that this momentum could not be carried into the Chuseok holiday to revive theaters.

This can be seen as a result of commercial filmmakers making choices based on commercial logic. However, from the audience's perspective, it is disappointing not to have suitable movies to watch during the long holiday. Online, some respond, "I'll watch Squid Game on Netflix during the Chuseok holiday," or "I'll binge-watch delayed movies and dramas on OTT platforms."

Now is an era where audiences and viewers recognize good content. Even if a lot of capital is poured into promoting poorly made content, it will be exposed within a day of release. Whether shown in theaters or on home screens, good content is consumed by many.

We just hope that audiences do not drift further away from theaters.