'Intern' draws only 860,000 viewers despite buzz as OTT disruption batters Korean cinema

A still from "Intern" [Warner Bros. Korea]

"I thought it would be a huge hit — this is way too bad," one moviegoer said.

"It will be on OTT soon anyway, so why bother going to the theater?" said an OTT subscriber.

"Intern," starring Han So-hee and Choi Min-sik, generated considerable buzz before its release, but the film has drawn a cumulative audience of only about 860,000 as of Thursday.

Despite high expectations fueled by strong early interest and favorable reviews, the film now looks unlikely to reach even 1 million admissions — far short of the 10 million some had hoped for. Its break-even point is estimated at 2.2 million admissions, making losses all but certain.

The film follows "Seon-u" (Han So-hee), a dark-horse figure who rises rapidly in the fashion world over three years, and "Gi-ho" (Choi Min-sik), a veteran intern with 37 years of experience who joins her company. Together they navigate office life that cuts across generational and hierarchical lines.

It is a remake of a well-received American film that opened in 2015.

According to the Korean Film Council's integrated ticketing system, "Intern," which opened Sept. 16 to capitalize on the Chuseok holiday rush, saw its daily admissions fall to around 6,000, leaving its cumulative audience at just 860,000 as of Thursday. The film topped the box office on its opening weekend, but reaching 1 million now appears out of reach.

Industry observers say the sweeping shift in viewing platforms — from television and cinema to OTT services and YouTube — is accelerating the decline of theatrical films.

Cinema attendance has been steadily eroding under the direct impact of OTT. A monthly OTT subscription now costs roughly the same as a single movie ticket, while a trip to the theater — ticket plus snacks — runs an average of 30,000 won ($22) per person. Many viewers say they would rather stay home and stream Netflix.

"Portrait of a Family" (left), which arrived on Wavve just 21 days after its theatrical release, and "Possible Love," a Netflix film currently in theaters for an exclusive run [Wavve · Netflix]

Films that have flopped at the box office are racing to OTT platforms. "Portrait of a Family," starring Ryu Seung-ryong and Ha Ji-won, opened in theaters Sept. 2 and landed on Wavve just 21 days later, on Sept. 23. Its cumulative audience stood at only 102,921 at the time of its OTT release.

"Possible Love," which earned strong praise abroad, opened in theaters Sept. 23 but drew only about 230,000 admissions. It is set to arrive on Netflix on Nov. 6, just 44 days after its theatrical debut.

For audiences, the incentive to pay a premium for the theater experience is fading. Films that underperform at the box office need to sell their OTT rights while they still have some public profile in order to recoup losses.

The government is pushing a voluntary "holdback" agreement that would require theatrical releases to wait 150 days before becoming available on OTT platforms, in a bid to shore up cinemas. But criticism is growing that the policy is out of step with market realities. Consumer groups have been particularly vocal in their opposition, warning that it could infringe on viewers' freedom of choice.

Whether audiences should have to wait five months for a film that has in effect finished its theatrical run is itself a problem. For producers and distributors, the delay also makes it harder to recover costs. A film that has underperformed needs to sell its OTT rights while public interest is still alive — waiting five months only drives down its value further.

park@heraldcorp.com