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Spackman's film Be With You tops South Korea box office on opening day
BE With You, a South Korean film that Spackman Entertainment Group has invested about US$450,000 in, opened at No 1 at the South Korean box office on March 14, the first day of its release, the film production company said early Thursday.
In a post-market close filing on Thursday, the company said that the film was sold to 17 countries including Singapore, Malaysia, the US and the UK.
The film garnered total ticket admissions of 112,301 and gross box office revenue of US$805,500 on the opening day. According to the Korean Film Council, Be With You, which was released on 987 screens, captured 34.6 per cent of South Korea's market share of box office revenue for that day.
The fantasy melodrama film based on a Japanese original novel of the same title, which sold over a million copies in 2004, is co-presented by Spackman's wholly owned subsidiaries MS Team Entertainment and Fiftyone K.
Said Richard Lee, Spackman Entertainment's interim chief executive officer and executive director: "As there are potential benefits from multiple revenue streams in conjunction with Spackman Media Group, Be With You serves as an exemplary project that demonstrates the full execution of our multi-pronged approach to films.
"In deriving direct and indirect economic value from various sources including potential income from investment, artistes fees, and co-presenting fees, Be With You is as important financially as one of our own in-house produced films."
Spackman shares ended 0.2 Singapore cent or 2.2 per cent higher at S$0.092 on Thursday.