3 hours 12 minutes 'Avatar: The Way of Water' Opens on the 14th
Top 10 Blockbusters Running Time Average 117~129 Minutes
This Year's Releases Average Screening Time 129.7 Minutes
Post-Pandemic Changed Film Market, The Key Is...
[Asia Economy Reporter Lee Iseul] "Unless the movie is terrible, no one would complain about a long running time. Isn't it cost-effective to watch longer for the same price?"
Director James Cameron was full of confidence. At a press conference during his visit to Korea on the 9th, he responded to criticisms about the long running time of the movie Avatar: The Way of Water (hereafter 'Avatar 2') with this remark. He lightly shrugged off the concerns with a trendy "actually, it's good" attitude. The screening time is a whopping 3 hours and 12 minutes (192 minutes). That's long enough to reach Busan from Seoul by high-speed train and still have time left. In theaters, they could screen the 87-minute Minions 2 twice and still have time remaining. There have even been humorous calls to introduce an intermission (break time) comparable to a musical performance due to the lengthy running time.
The original Avatar, released in 2009, earned $2.92291 billion (3.7772 trillion KRW) worldwide and was praised for leading a revolutionary advancement in 3D (three-dimensional) technology. The sequel, born 13 years later, boasts a scale that surpasses the original. James Cameron said, "If we were to make a series, we had to make it bigger."
The original attracted 13.33 million viewers, becoming the highest-grossing foreign film in Korea, a record that still stands. Another point of interest regarding Avatar 2 is its long running time. Concerns have arisen that the length might negatively affect its box office performance. Even if there is no direct correlation, the consensus is that a long running time inevitably becomes a burden.
Correlation Between Running Time and Box Office Success
Does a long running time deter people from watching a movie? Is running time directly related to box office success in Korea? We examined this to predict how 'Avatar 2' might perform and how running time might affect future films.
According to the Korea Film Council (KOFIC) integrated box office statistics, the highest-grossing film in history is Roaring Currents (2014), which attracted 17.61 million viewers with a running time of 128 minutes. Ranked third, Along with the Gods: The Two Worlds (2017) ran for 139 minutes and drew 14.41 million viewers. Ode to My Father (2014) attracted 14.25 million viewers with a 126-minute running time, and the 5th place Avengers: Endgame (2019) runs over 180 minutes.
Except for the 2nd place Extreme Job (2019) at 111 minutes, all top 10 films run over two hours. Including Frozen 2 (2019), Avatar (2009), and Veteran (2015), the average running time of the top 10 highest-grossing films is 132 minutes.
Does Running Time Affect Revenue?
Is there a relationship between running time and revenue? According to KOFIC cumulative revenue data, the longest commercial film, The Lord of the Rings: The Return of the King (2003), at 263 minutes, earned 4.6 billion KRW. Further back, Titanic (1998) ran 195 minutes and earned 4.9 billion KRW, and Marvel's Avengers: Endgame (2019) with a 181-minute running time earned 122.4 billion KRW.
Some art films or classics have introduced intermissions. For example, The Ballad of Narayama (1991) at 237 minutes and Ben-Hur (1962) at 222 minutes had about a 10-minute break in the middle, similar to musical performances.
The atmosphere in theaters has changed since the COVID-19 pandemic. With shifts in content consumption patterns, the film industry has undergone significant changes. How is the market recently? Looking at films released this year, the highest-grossing film Crime City 2, released in May, runs 105 minutes and is not long, but the second-place Top Gun: Maverick ran 130 minutes and earned 87.8 billion KRW, smiling broadly. Hansan: Rising Dragon, running 129 minutes, earned 73.7 billion KRW last summer. Marvel's Doctor Strange in the Multiverse of Madness (126 minutes) earned 62.6 billion KRW, and the 146-minute Jurassic World: Dominion earned 29.2 billion KRW, ranking 7th in box office. Marvel's relatively short 118-minute Thor: Love and Thunder attracted 2.71 million viewers (29.5 billion KRW) but received a somewhat disappointing result compared to expectations.
Running Time is a Variable... What Determines Box Office Success?
James Cameron promoted 'Avatar 2' saying, "Post-pandemic, theatrical films can be longer to enhance the audience's experience." The average running time of the top 10 highest-grossing films this year was 129.7 minutes. Jurassic World: Dominion, released in June, was the longest at 146 minutes, and the 10th place animated film Minions 2 was the shortest at 87 minutes.
Looking at the average running time of the top 10 hits, it was 117.4 minutes in 2019 before the pandemic, 114.3 minutes in 2020, and 126.4 minutes in 2021.
A distribution company official emphasized, "More important than running time is attracting audiences to theaters." He added, "Now, most content enjoyed at home has a level of completeness comparable to theatrical films. The key is whether the movie is fun and has distinctive elements that make people want to wear masks and come to the theater."
The official also said, "Of course, a long running time can be burdensome, but audiences are now thirsty for 'experiences' outside the home." He continued, "Recently, ticket prices have risen, and with various channels available, options have increased. There is even a plethora of high-quality YouTube content enjoyed on mobile phones. The opportunity cost has increased. So if a movie is not fun, audiences no longer endure it silently but actively voice their opinions. As a result, raw reactions are transmitted online in real time."
There is consensus that the most important factors are 'fun' and 'word of mouth.' A theater official said, "Box office success depends on reactions within a day or two after release. If a positive buzz forms, word of mouth spreads quickly. For terrible movies, the CGV Golden Egg Index, which measures actual viewer evaluations, crashes miserably within half a day of release." He added, "Even if the running time is long, if word of mouth says it's fun, audiences will watch it despite somewhat higher ticket prices or length."
On the afternoon of the 16th at Yongsan CGV, audience member Lee Jeong-ah (21, female) said, "I came to the theater to watch 'Avatar 2.' I booked tickets because I wanted to watch it with 3D glasses. I was excited because I heard the underwater scenes are vividly portrayed." She added, "Although I can't freely drink beverages during the long running time, I don't feel burdened. If I want to go to the restroom, I can just go. The expensive ticket price is a burden, but if the movie isn't fun, I can leave during the screening."
Kim Jin-wook (34), who booked 'Avatar 2,' said, "I enjoyed the original and was waiting for the sequel's release. Because of the long running time, there were limited showtimes after work. I even gave up dinner to make time after work, but I'm eager to watch it soon." He added, "I'm curious how it will be, but I'm glad to enjoy a new release in the theater wearing 3D glasses after a long time."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
