During the Chuseok holiday period, CJ ENM, known for its consecutive box office failures, has made a comeback. “Veteran 2” has surpassed 4 million viewers in just 6 days since its release, quickly reaching its break-even point.
This is the first film in two years for CJ ENM to surpass its break-even point. With an investment of 13 billion won, the break-even point for “Veteran 2” was around 3.5 million viewers. It is estimated that “Veteran 2” has generated approximately 20 billion won in revenue during the Chuseok holiday period, with a market share of 85.7%.
The success of CJ ENM’s film achieving profitability after two years has caused a stir internally. There are reactions such as “We expected it to do well, but we didn’t expect this level of success.”
According to the integrated ticketing network for cinemas on the 18th, “Veteran 2” surpassed 4,001,565 accumulated viewers as of 9 a.m. on that day. Leading the box office during the Chuseok holiday period, “Veteran 2” broke through 4 million viewers just one day after surpassing 3 million viewers, showing a fast-paced success compared to “Pawn” (9 days), “The Outlaws 2” (7 days), and “Seoul’s Spring” (12 days).
“Veteran 2” attracted 700,000 to 800,000 viewers daily during the holiday period, dominating the box office with no significant competitors.
“Veteran 2” is a sequel to “Veteran” (2015), which drew 13.41 million viewers. The film portrays the intense crime investigation team chasing after the serial killer ‘Hae-chi,’ causing a stir nationwide.
There were complaints about the film monopolizing screens, making it difficult for audiences to watch other movies.
CJ ENM, the leading film company that produced hits like “Roaring Currents,” “Extreme Job,” “Ode to My Father,” “Veteran,” and “Parasite,” is currently facing an unprecedented crisis. The company has reduced new investments significantly amidst consecutive box office failures and rumors of withdrawing from the film business.
Among the films released by CJ ENM in the past two years, there hasn’t been a single film that exceeded the break-even point. The company’s audience share has plummeted to the bottom among major distributors.
In the midst of crisis, CJ ENM has finally produced a successful film after two years, bringing a sigh of relief to the company.