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The Rise of Korean Films on the global stage



Movie <Peninsula> Poster Red Peter, Source Red Peter


[Summary]


The film 'Peninsula' a sequel to 'Train to Busan' won USD 13.2 million in the first week of its release in Korea, despite seating capacity limits in theaters due to COVID-19.


The release of the film has also been successful in foreign countries. In Taiwan, it earned USD 4.7 million in five days, and in Malaysia, it was ranked 1st in the box office for four days. In Vietnam, revenue amounted to USD 1.17 million over a period of just three days. In Singapore, it recorded the most successful launch ever for a Korean film in the market.


They are also scheduled to be released in Thailand, Denmark, Norway, Sweden, and Cambodia.


[Insights]


The movie 'Peninsula' attracted 3.81 million viewers in Korea, a poor result compared to 'Train to Busan,' which attracted 11.57 million viewers. However, if we focus on the records from abroad, the feat of 'Peninsula' is remarkable.


First of all, it generated 23 billion KRW of sales in its first week of release worldwide. Two months after its release, the worldwide revenue for the movie 'Peninsula' reached $50 million. In addition, it is projected to increase further as 126 major U.S. cities have announced its launch. The popularity of Korean content is spreading from drama to film.


Even if it is not popular in the domestic market, there is a chance to break with its performance on the global market. The zombie movie 'Alive' is a great example of which has been ranked in the Netflix global rankings for two weeks, but was unsuccessful in domestic film theatres.



Article source: https://variety.com/2020/film/asia/peninsula-korea-box-office-1234710751/

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