The film "HOPE" has surpassed 4 million admissions nationwide in 19 days since its release, reaching 80 percent of its break-even point.
According to the Korean Film Council's integrated ticketing computer network on the 3rd, "HOPE" mobilized 335,810 viewers nationwide during its third weekend (July 31 to August 2), maintaining the number two spot at the box office. The cumulative audience reached 4,110,550.
"HOPE" surpassed the cumulative audience mark of 4 million around midnight on August 1. It marked the 19th day since its release. With this, it became the third film released this year to reach the 4 million viewer milestone, following "The King's Warden" and "COLONY".
The break-even point for "HOPE", which is estimated to have cost over 50 billion won in production expenses, is approximately 5 million viewers. It was initially expected to be around 7 million, but the break-even point is known to have been significantly lowered as it was pre-sold to 200 countries overseas. Considering 5 million viewers as the standard for the break-even point, it has currently reached 80 percent of that threshold.
However, as it entered its third week of release, the momentum of "HOPE" has dropped significantly. It drew 1.5 million viewers in its first weekend, 760,000 in its second weekend, and 330,000 in its third weekend. Given its remaining traction, achieving the break-even point is not an easy situation. Projections range from the late 4 million to early 5 million range.
The variables are the trends of two strong competing films. The box office speed of "Spider-Man: Brand New Day" (surpassing 3 million in 5 days) is faster than expected, and the momentum of "The Odyssey", opening on the 5th, is also formidable. "The Odyssey" recorded an advance ticket sales rate of 40.3 percent and 361,000 advance tickets sold as of two days ahead of its release, closely trailing "Spider-Man: Brand New Day" (40.9 percent, 366,000 tickets).
If the two films engage in an unyielding competition, there is room for the ticket sales of "HOPE", which ranks 3rd to 4th, to decline further. Currently, "HOPE" forms the 4th tier with an advance reservation rate of 3.9 percent and 34,000 advance tickets, trailing even another upcoming release, "Heartsping: Teenieping of Love" (7.6 percent, 68,000 tickets).
If it can secure a long theatrical run, it could reach the break-even point even at a slow pace, but if it loses advance ticket sales to the three new releases, defending its screen count will become difficult.
The "HOPE" team plans to direct all efforts toward securing new audiences and encouraging repeat viewings through word-of-mouth and active promotion on the ground. The main cast members will continue their stage greetings this week as it enters its fourth week of release.
(SBS Entertainment News | Kim Ji-hye)
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