Philippine cinemas stuck in a rut after pandemic

KAREN LUSTAÑAS, 30, tries to watch a movie in the Philippine capital at least once a month, if the budget allows it.

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"I try to save time and money for films that I really want to see," she told BusinessWorld in a Facebook Messenger chat. "I can barely afford it, but if I'm a fan of the director or actors, I really have to watch it."

"Otherwise, I'll just watch it on a streaming platform," she added.

As good as the movie industry is in imagining alternate realities, it didn't see this one coming. Five years after the coronavirus disease 2019 (COVID-19) decimated the box office here and all over the world, movies are still struggling to come back.

Philippine gross movie ticket sales fell 3.7% year on year to $45.5 million (P2.5 billion) last year, a far cry from the $144.5 million posted in 2019, before the pandemic hit, according to US-based box office revenue tracker Box Office Mojo.

In 2020, gross sales plunged 95% to $7.7 million.

Global cinema ticket sales fell 8.8% last year to €28 billion (P1.8 trillion) from 2023, the first annual drop since COVID-19, the European Audio-visual Observatory (EAO) said last month.

Regular movie ticket prices cost P300 to P400 in Metro Manila, or about half the daily minimum wage. On the other hand, the basic monthly subscription to streaming platforms like Netflix, Max (HBO) and Disney+ costs P150 to P250, and the titles are virtually endless.

"If you think about it, it's really worth it and more practical to go with Netflix," Ms. Lustañas, a freelancer, said.

The annual Metro Manila Film Festival (MMFF) grossed P800 million last year, hitting the target but failing to top 2023's record P1 billion despite a week-long extension.

The pandemic forced people to watch movies at home, aiding streaming services like Netflix, whose revenue grew 14% annually to more than $39 billion last year from 2019, according to computations by BusinessWorld using data from the company's website. Netflix subscribers also doubled to about 300 million over the five-year period.