Despite a week-long extension, the Metro Manila Film Festival 2024 is expected to generate around P800 million, falling short of last year's performance. MMFF organizers attributed the lower turnout to changing audience preferences and the rise of streaming platforms.
This is AI generated summarization, which may have errors. For context, always refer to the full article.The Metro Manila Film Festival 2024's box-office take is expected to be around P800 million, over P200 million less than last year’s festival. Here’s why.
Earnings from the MMFF are partly used for film industry stakeholders, including the Movie Workers Welfare Foundation , the Film Academy of the Philippines, the Motion Picture Anti-Film Piracy Council, the Optical Media Board, and the Film Development Council of the Philippines . A bigger box-office take means more money for the industry and its workers., and various reports from entertainment websites say it topped the MMFF 2024 box office.
, this year’s box office of the nine other entries would total around P400 million, or an increase of P231 million in ticket sales from P169 million in 2023. last December: “This is one Metro Manila Filmfest where commercialism is not a shameless display of reductive or even pandering movies meant to cater to the most superficial level of human intelligence. Instead, some of these movies are well-thought-out, all are well-produced, but most of all, the 10 films want to bring back the audiences to the movie houses where their narratives can be savored properly as a community experience as a celebration of Christmas.
As FDCP chair Reyes, citing an industry study, said in a Senate hearing last September: “We have lost completely the D and E markets who used to watch Philippine movies. We only have now the B and C1 markets watching movies…Philippine cinema patronage is a middle-class activity. Reyes also said the waiting time from when a film is shown in cinemas to the time it’s made available on streaming platforms has gone down from six months to just 45 days.
MMFF BOX OFFICE FILM INDUSTRY STREAMING TICKET PRICES
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