Live Concert Films Establish Themselves as a Revenue Source for Theaters via Special Formats

Live concert films, which filled the void of new releases in theaters during the COVID-19 pandemic, have now firmly established themselves as an independent content genre. Moving beyond simply recording performance sites, they are increasing profitability by providing differentiated experiences to audiences through the use of special formats such as IMAX or ScreenX. On the 9th, IU's first concert live film, 'IU CONCERT: The Golden Hour', was re-released exclusively by CJ CGV, a work capturing the scene where she became the first Korean female singer to enter the Olympic Stadium. Additionally, IU's first world tour and 100th concert, 'HEREH ENCORE: THE WINNING', has also been produced as the live film 'IU CONCERT: THE WINNING' to meet audiences.

According to media reports, many K-pop stars, including BTS, Stray Kids, TOMORROW X TOGETHER, Kang Daniel, and Jeong Dong-won, have demonstrated their presence in theaters by presenting live concert films. In particular, 'IU CONCERT: The Golden Hour' is evaluated to have realized overwhelming scale and vivid live sound by confirming its IMAX screening as the first domestic concert live film to do so. 'TOMORROW X TOGETHER VR CONCERT: ENDLESS RIDE', which was released exclusively at LOTTE CINEMA last July, also showed an attempt to maximize the sense of presence through VR screenings applying 2K ultra-high-resolution technology.

The reason concert live films began to receive full attention in theaters was the shortage of content during the pandemic. At that time, the fact that stable demand could be expected relative to production costs acted as a major attraction, and the ability to guarantee box office success based on an artist's certain fandom is a competitive edge that differentiates them from general films. Various camera angles, close-ups, and theater-exclusive sound systems that are difficult to experience at performance venues present new ways of viewing to fans. With the consecutive releases of live films by popular singers such as BTS, BLACKPINK, SEVENTEEN, and Lim Young-woong, the potential of this fandom-based content has already been proven.

From the theater's perspective, live concerts are a strategic option that can bring in new fandoms in addition to existing movie audiences. Especially in the case of large special formats, differentiation of content is essential, and the spectacular stage production of performances is very suitable for utilizing the infrastructure of special formats. In line with this trend, the global distributor Trafalgar Releasing has begun a full-scale market attack by establishing a Korean corporation. An industry official explained through media reports, "For fans who could not visit the performance venue, it provides the experience of meeting the artist on a large screen, and theaters can increase the utilization of their infrastructure, so it has established itself as core content connecting fans and artists beyond a temporary niche."

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