Wed. Sep 23rd, 2020

‘Parasite’ to Dramatically Expand Theater Count Following Historic Win

In the wake of its historic Academy Award win for best picture and best director, Parasite will dramatically expand its theater count in the U.S. this weekend to as many as 2,000 or more locations, double its current reach.

Bong Joon Ho’s acclaimed South Korean film, which indie distributor Neon first opened in select cinemas in early October, is certain to enjoy a lucrative post-Oscars bump, considering that its widest cinema count to date has been 1,060 locations.

Parasite is already one of the top-grossing foreign-language films of all time in the U.S., with $36.6 million in ticket sales through Sunday. Some box office analysts now believe it could make as much as $45 million to $50 million, even though it is already available to rent or buy for the home (it debuted on DVD Jan. 28).

The film is now only days away from passing up Pan’s Labyrinth ($37.6 million) to land at No. 5 on the list, not adjusted for inflation. And it could pass up Instructions Not Included ($44.5 million). No. 1 is Crouching Tiger, Hidden Dragon ($128.1 million), followed by Life is Beautiful ($57.2 million) and Hero ($53.7 million).

Parasite is the first non-English-language movie ever to win the Oscar for best picture. It won three other top awards Sunday night; best director, best original screenplay and best international feature.

“The good news for Parasite is that the film’s many mysteries and complexities make it required viewing not only in the movie theater, but on home video where audiences can take the time to study the nuances and puzzling dynamics that make the story so intriguing and irresistible,” says Paul Dergarabedian of Comscore.

Parasite is a major victory for Neon, founded by Tom Quinn in 2017, and the young company’s first best picture win. Neon acquired rights from producer CJ Entertainment.

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Written By: Tommy Lightfoot Garrett

Photographs are Courtesy:  Neon

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