Cinema's future hinges on premium formats as IMAX and special theaters sell out despite overall attendance drop

Even as overall cinema attendance declines, special premium theaters are becoming a major draw, with formats like IMAX consistently selling out. This trend is evident with the recent release of Christopher Nolan's film 'Oppenheimer,' where IMAX screenings at the Yongsan I'Park Mall CGV in Seoul were fully booked from the earliest 6:30 a.m. showing to the last show at midnight.

Demand for these premium seats is so high that tickets for the Yongsan IMAX theater were reportedly reselling for over five times their original price shortly before the film's release. This phenomenon is not unique to 'Oppenheimer.' The top-grossing foreign film of the first half of the year, 'Project Hail Mary,' saw approximately one in three viewers opting for premium formats like IMAX. For 'Dune: Part Two,' nearly half of the audience chose these special screenings.

The number of viewers who willingly pay a premium for special theater experiences is increasing. This surge in popularity for premium formats raises the question of whether the future of the cinema industry, which has been bracing for a long-term slump since last year, hinges on these specialized theaters.

According to data from the Korean Film Council, approximately 2.95 million people watched films in special premium formats in the first half of this year. This represents a significant increase of about 49% compared to the same period last year, when around 1.91 million viewers utilized these formats. Despite the broader challenges facing the film industry, the robust performance of premium theaters suggests a potential path forward.