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Is it the same in your country, too?👀

Title: Korean Theaters Struggle Amid OTT Rise and Financial Losses

Korean multiplex theaters are facing a crisis as declining audiences and rising OTT platform usage erode profitability. CGV will close its Songpa and Yeonsu branches, with other closures and workforce reductions following major losses. Reduced ‘holdback’ periods—time between theatrical and OTT release—are also blamed. However, distributors argue the issue lies in outdated business models. Theaters are now shifting to premium experiences like ScreenX, 4DX, and experiential spaces. Experts stress collaboration among theaters, distributors, and producers to revive the film industry and adapt to evolving viewing habits.

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