[Lee Isul's Magnifier]
'Avatar: The Way of Water' Highest Grossing Foreign Film
First 10 Million Audience This Year
First $2 Billion Revenue Since Pandemic
Why the Changed Global Box Office
This year's first film to reach 10 million viewers, Avatar: The Way of Water, was powerful. It earned $2.05473 billion (2.5355 trillion KRW) worldwide at theaters, with 128.9 billion KRW of that revenue generated domestically.
According to the Korea Film Council's integrated ticketing system, Avatar: The Way of Water (hereafter Avatar 2), which was released on December 14 last month, recorded a cumulative audience of 10,171,549. It reached 10 million viewers within 42 days of release, becoming this year's first film to hit that milestone. It is the first foreign film to do so since the COVID-19 pandemic began in 2020 and the second overall after Crime City 2.
Record-Breaking Highest Grossing Foreign Film in Korea
Avatar 2 reached 10 million viewers four days later than Avatar (2009), which hit the mark in 38 days. It is unlikely to surpass the original's audience of 13.62 million. However, it has broken the previous foreign film box office record of 128.44709 billion KRW set by the original. Avatar 2 recorded a cumulative revenue of 128.91707 billion KRW.
Avatar 2 ranks 9th in terms of foreign film audience numbers in Korea. The most viewed foreign film is Marvel's Avengers: Endgame (2019), with a cumulative audience of 13,934,592. Second place is Frozen 2 (2019) with 13,747,792 viewers, followed by Avatar (2009) with 13,624,328 viewers in third place.
Aladdin (2019), with 12,555,894 viewers, ranks fourth, followed by Avengers: Infinity War (2018) with 11,211,880 viewers and Avengers: Age of Ultron (2015) with 10,494,499 viewers in fifth and sixth places respectively. Avatar 2 is expected to comfortably surpass Frozen (2014) with 10.29 million viewers and Interstellar (2014) with 10.27 million viewers.
5th Highest Grossing Film Worldwide
Avatar 2 has swept theaters worldwide. According to Box Office Mojo, the film achieved a cumulative revenue of $2.05473 billion (2.5355 trillion KRW). It surpassed Marvel's Avengers: Infinity War revenue of $2.05241 billion (2.5326 trillion KRW) to enter the all-time global box office top 5. This is the first time since the COVID-19 pandemic that a film has crossed the $2 billion (2.468 trillion KRW) mark globally.
The top four are the original Avatar ($2.92 billion), Avengers: Endgame ($2.79 billion), Titanic ($2.19 billion), and Star Wars: The Force Awakens ($2.07 billion), respectively.
Among the global top 5 highest-grossing films, three are directed by James Cameron: Avatar, Avatar 2, and Titanic.
Director Cameron has planned the Avatar series to include five films, releasing one every two years. At the Busan International Film Festival last October, producer John Landau said, "Filming for the third installment is complete, and the first act of the fourth is nearly finished. The overall plan is set, and filming up to the first act is done."
Why Avatar is a Global Box Office Hit Again
Avatar 2 is the sequel released 13 years after James Cameron's 2009 Avatar. The film tells the story of the family formed by Jake Sully and Neytiri on the planet Pandora, facing ruthless threats, embarking on a long journey and battles to survive, and enduring wounds. It has been nominated in four categories at the upcoming 95th Academy Awards: Best Picture, Production Design, Visual Effects, and Sound.
The key to its success is the spectacular visuals realized through cutting-edge technology. Enhanced 3D techniques such as underwater performance capture and virtual camera work skillfully immerse viewers in the world of Pandora.
The dream team of Weta FX and Lightstorm production recreated all of Pandora’s natural environment?plants, trees, water, rocks?using VFX computers. To enhance realism, they applied top-level technologies including 3D, high frame rate (HFR), and high dynamic range (HDR). These elements have attracted audiences to theaters.
How Will It Affect the Domestic Theater Market?
What impact will Avatar 2's success have on the domestic theater industry? The industry welcomes it but also voices some concerns.
A theater official said, "Theaters suffered severe losses during the COVID-19 pandemic. Avatar 2 crossing 10 million viewers has revitalized the struggling theater market." They added, "Steady attendance in premium theaters has driven revenue growth. Major premium theater sales account for over 10% of total revenue."
The official noted, "With a runtime exceeding three hours, audiences prefer to watch in the best possible environment. Avatar 2 was planned and produced as an experiential film with lavish visuals, which contributed to its success." They also mentioned, "The increase in ticket prices also influenced the revenue growth."
A production company representative said, "Regardless of scale, polarization is evident from various perspectives such as taste. Smaller films like Crime City have also succeeded in reaching 10 million viewers through word of mouth. Being a blockbuster does not guarantee success. While producers tend to invest heavily to create large-scale, safe projects, the more important factor is making a good film."
They continued, "Now audiences only go to theaters if there is a compelling reason. This includes experiential films and well-made movies that generate word of mouth. The box office has become a market that is unpredictable and unstoppable, like a river bursting its banks."
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