“Elisabeth: The Musical Live” (Image courtesy of EMK Musical Company)
SEOUL, Nov. 25 (Korea Bizwire) – With movie theaters in South Korea looking to diversify their content offerings, live recordings of musicals are emerging as an unexpected box office draw, potentially marking a new chapter for the industry.
Leveraging their large screens as a key advantage, theaters are expanding beyond traditional films to showcase a variety of content, from concert recordings and sports broadcasts to musicals and classical performances.
According to data from the Korean Film Council released on November 23, “Elisabeth: The Musical Live” had attracted over 45,000 viewers from its release through November 21, setting a new attendance record for theatrical screenings of live musicals, surpassing “The Man Who Laughs: Director’s Cut” which drew approximately 20,000 viewers.
“Elisabeth” brings the stage musical of the same name to the big screen, featuring dynamic performances by Ock Joo-hyun, Lee Hae-jun, and Lee Ji-hoon.
The film’s appeal lies in its ability to showcase details often missed in live performances, including subtle facial expressions, props, and intricate stage elements, offering a fresh perspective even to those who have seen the stage production.
Leveraging their large screens as a key advantage, theaters are expanding beyond traditional films to showcase a variety of content. (Yonhap)
The significantly lower ticket price compared to live musical performances, which typically exceed 100,000 won, adds to its attractiveness.
Another successful example is “Hero: Live in Cinema,” a filmed version of the musical “Hero,” which has drawn over 14,000 viewers since its August premiere.
For theaters facing sluggish box office performance, these musical screenings represent a promising revenue stream. Despite lower attendance numbers, these screenings can generate higher revenues due to premium ticket pricing.
“Elisabeth,” for instance, commands over 25,000 won per ticket, considerably higher than the standard 10,000 won range for regular movies. The musical has generated 1.1 billion won in revenue, ranking 11th among all films in theaters during its run, despite ranking 18th in attendance with 45,000 viewers.
Theater chains are expanding beyond musicals into other genres. Megabox has established Classic Society, a brand dedicated to screening live classical performances, including Metropolitan Opera productions like “La Traviata” and “Don Giovanni.”
CGV has ventured into screening virtual boy band Plave’s concert recordings, while Lotte Cinema is broadcasting live games from the 2024 World Baseball Softball Confederation (WBSC) Premier12 tournament.
“These diverse programming options serve a dual purpose,” a theater industry representative explained. “They allow us to offer unique entertainment experiences to our audiences while simultaneously providing a valuable new revenue stream for our theaters.”
Lina Jang (linajang@koreabizwire.com)
