CJ ENM’s Market Share Drops Below 10% Again
CJ ENM continues to struggle to capture a significant share of the movie-viewing market. After briefly surpassing 10% last year, their market share fell below 10% once again in the first half of this year.
According to the Korean Film Council, CJ ENM ranked 7th among all film distributors (including Korean and foreign films) in terms of audience share, with a modest 6.5% share for the first half of the year.
Unfortunately, CJ ENM’s audience share has been on a downward trend since 2019. The annual audience share figures for CJ ENM were as follows: a decline of 24.1% in 2019, a further decline of 17.6% in 2020, a slight recovery of 6.9% in 2021, and another decline of 13.4% in 2022.
Although CJ ENM managed to achieve an annual audience share of 13.4% in 2022, it struggled in the first half of the year with a meager market share of 3.7%. However, the release of movies such as “헤어질결심” in June, “공조2: 인터내셔날” in September, and “영웅” in December helped boost their market share.
Unfortunately, this year’s performance has been disappointing, with CJ ENM’s market share falling below 10% once again. This can be attributed to the lack of major releases after 2019.
In 2019, CJ ENM saw its highest market share in the past four years, thanks to successful films such as “극한직업” and “기생충”. “극한직업” became the highest-grossing domestic film in box office history, coming second only to “명량”, with sales of 139.6 billion won and an audience of 16 million. “기생충”, directed by Bong Joon-ho, not only gained popularity in Korea but also internationally, earning 87 billion won in domestic theater sales.
CJ ENM’s market share for the second half of this year will depend on the movies released during that period. However, as of now, no significant releases have been announced for September.
Furthermore, even highly anticipated films released in the second half of the year are facing criticism for their poor performance at the box office. One such film, “더 문”, invested the most in production costs among the four popular Korean movies released this summer (approximately 28 billion won). However, the cumulative number of viewers has only reached 510,000, with total sales of around 5.2 billion won. This is far from crossing the break-even point of 6 million viewers, making it a major disappointment.
It is worth noting that “더 문” was produced by Vlad Studio, a production company affiliated with CJENM, and distributed by CJENM.
In addition to this, CJ ENM also distributed a Japanese animation film, “명탐정코난: 흑철의 어영(7월20일 개봉)”, which has achieved cumulative sales of 7.4 billion won and 770,000 viewers to date.
CJ ENM’s film division has been experiencing declining sales recently, as it has been unable to achieve significant box office success. Sales for the second quarter of this year amounted to 229.6 billion won, a decrease of 32.2% compared to the same period last year (338.6 billion won). The film and drama division also recorded the highest operating loss of 31.1 billion won among all business divisions during this quarter.
The decline in theater sales during the second quarter of this year is attributed to sluggish performance in the film and drama department, despite strong sales of overseas content, such as simulcasting IPs like the drama “The Tale of a Nine Tailed Fox” and the entertainment show “Seojin” on Amazon Global, explained the company.
Based on CJ ENM’s consolidated financial figures, total sales for the second quarter of this year amounted to 1,048.9 billion won, with an operating loss of 30.4 billion won. Sales experienced a 12.0% YoY decline, and the company reported a net loss.
[CEO스코어데일리 / 김윤선 기자 / yskk@ceoscore.co.kr]
Unauthorized reproduction-redistribution prohibited > 2023-09-08 15:14:59 Send
open this summer <더 문>A failure at the box office too… Viewership is less than 1/10 of the break-even point
CJ ENM’s share in the number of movie viewers continues to be slow. The market share, which flashed above 10% last year, fell below 10% again in the first half of this year.
According to the Korean Film Council on the 8th, in the first half of this year, CJ ENM ranked 7th among all film distributors (Korean films + foreign films) with an audience share of 6.5%.
CJ ENM’s audience share has been sluggish since 2019. Previously, CJ ENM’s annual audience share recorded △24.1% in 2019 △17.6% in 2020 △6.9% in 2021 △13.4% in 2022.
Last year, CJ ENM’s annual audience share was 13.4%, which is more than 10%. During the first half of last year, it recorded a low market share of 3.7%, but in June <헤어질결심>September <공조2: 인터내셔날>December <영웅>and increase its market share.
However, in the first half of this year, the market share fell again below 10%. This is because after 2019, major works have not been released.
Films distributed by the company in 2019, which had the highest share of CJ ENM over the past four years, <극한직업>, <기생충> etc.
<극한직업>is the highest domestic film in box office history <명량>He took second place after <극한직업>achieved sales of 139.6 billion and an audience of 16 million. <기생충>is a film directed by Bong Joon-ho, which was popular not only in Korea but also abroad, and recorded 87 billion earned in domestic theater sales.
Depending on the movies released in the second half of this year, CJ ENM’s market share may increase, but there was no news in September.
The highly anticipated film, released in the second half of the year, is also being criticized for failing at the box office. Released on August 2nd this year <더 문>Among the four popular Korean movies released this summer, the production cost was invested the most (about 28 billion won), but so far the cumulative number of viewers has only reached 510,000. Cumulative sales to date are approximately 5.2 billion won. <더 문>The number of audiences to cross this break-even point was around 6 million, but the actual number of audiences was less than 1/10 of this.
especially, <더 문>Produced[#101]by Vlad Studio, a production company affiliated with CJENM, and distributed by CJENM.
Before this, Japanese animation was distributed by CJ ENM. <명탐정코난: 흑철의 어영(7월20일 개봉)>has recorded cumulative sales of 7.4 billion won and 770,000 viewers to date.
In the absence of significant box office success, sales of CJ ENM’s film division have been declining recently. Sales of CJ ENM’s film and drama division were KRW 229.6 billion in the second quarter of this year, down 32.2% from the same period last year (KRW 338.6 billion). In the second quarter of this year, the operating loss of the film and drama division was -31.1 billion won, the biggest loss among the business divisions.
Sluggish theater sales in the second quarter of this year were affected in the film drama department, despite strong sales of overseas content, such as simulcasting IPs such as the drama ‘The Tale of a Nine Tailed Fox’ and entertainment. show ‘Seojin’,’ on Amazon Global, the company explained. .
Based on CJ ENM’s consolidated basis, the company’s total sales in the second quarter of this year were KRW 1,048.9 billion and its operating loss was -30.4 billion. Sales fell 12.0% YoY and net profit turned red.
[CEO스코어데일리 / 김윤선 기자 / yskk@ceoscore.co.kr]
Unauthorized reproduction-redistribution prohibited > 2023-09-08 15:14:59 Send
#ENM #audience #share #half.. #continued #sluggishness
