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Senin, 10 Desember 2018 17:04:00

Spackman Entertainment Group's Film, DEFAULT, Grosses US$20 Million in Box Office Revenue, Surpassing Break-even Point of 2.6 Million Tickets within 12 Days

DEFAULT, the highest November opening in the history of the Korean box office, regained #1 position and crossed its break-even point within 12 days since its first day of release on 28 November 2018
DEFAULT, which is anticipated to continue its run for another three weeks,  has accumulated gross box office revenue of US$20 million and total ticket admissions of 2,723,607 as of 9 December 2019
As the producer and one of the investors of DEFAULT, the Group expects the film to start contributing positively to the Group's upcoming financial performance from now onwards
 
SINGAPORE - RIAUONE.COM - 10 December 2018 - Spackman Entertainment Group Limited ("Spackman Entertainment Group" or the "Company" and together with its subsidiaries, the "Group"), one of Korea's leading entertainment production groups founded by international investor Charles Spackman, wishes to announce that the Group's upcoming film, DEFAULT, produced by the Company's indirect wholly-owned subsidiary, Zip Cinema Co., Ltd. ("Zip Cinema"), has grossed US$20 million in box office revenue and has accumulated 2,723,607 admissions, crossing its break-even point of 2.6 million tickets within 12 days since its official wide release in Korea on 28 November 2018.
 
DEFAULT, the highest November opening in the history of the Korean box office, regained the #1 position last Saturday and Sunday, after occupying #2 last Wednesday, Thursday and Friday.
 
Based on the latest statistics from the Korean Film Council DEFAULT captured an average of at least 35% of the nation's market share of box office revenue as of 9 December 2018. As the highest November opening in the history of the Korean box office, DEFAULT continues to occupy an average of at least 1,080 screens daily.[1] The financial thriller film is anticipated to continue its run for another three weeks leading to the Christmas holiday period.
 
In addition to being the producer of DEFAULT, the Group invested 10% of the film's total production budget. The estimated total production budget for DEFAULT, including prints and advertising costs, is approximately KRW 9.7 billion (or USD 8.6 million).
 
The film is expected to start contributing positively to the Group's upcoming financial performance from now onwards.
 
The latest daily statistics from the Korean Film Council on the performance of DEFAULT are updated on the Group's website at http://www.spackmanentertainment.com.
 
DEFAULT has been presold to 17 countries including Canada, Italy, Japan, China (Hong Kong & Macau), Taiwan, Singapore, Indonesia, Malaysia, Brunei, the Philippines and the United States.
 
CJ Entertainment is the overseas distributor of DEFAULT. Clover Films Pte. Ltd., a Singapore-based film distributor, purchased the theatrical distribution rights in Hong Kong, Macau, Singapore and Taiwan.
 
Headlined by Korean superstar Yoo Ah-in of UAA & Co Inc., a subsidary of the Group's associated company, Spackman Media Group Limited, DEFAULT depicts the behind‐the‐scenes story of the tumultuous week leading up to the rescue package agreed upon between the International Monetary Fund ("IMF") and the Republic of Korea to prevent bankruptcy during the 1997 Asian Financial Crisis.
 
The film also stars veteran actress Kim Hye-soo, Heo Jun-ho, Jo Woo-jin and French actor Vincent Cassel.
 
In DEFAULT, Yoo Ah-in plays a mega investor betting against the country's fortunes. Kim Hye-Soo acts as the leader of the monetary policy team at the Bank of Korea, and French actor Vincent Cassel takes on the role of the managing director of IMF. The film marks the first South Korean project of Vincent Cassel, who starred in French independent films LA HAINE and L'APPARTMENT, as well as Hollywood movies OCEAN'S TWELVE, OCEAN'S THIRTEEN and BLACK SWAN.
 
Directed by Choi Kook-hee, DEFAULT was previously screened at the 71st Cannes International Film Festival in May 2018. (roc/red/*) #for information on collaboration publications, questions and other e-mails riauonemedia@gmail.com

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