How much is an Oscar worth?
For investors in Barunson Entertainment & Arts—the South Korean studio behind “Parasite,” this year’s best-picture winner at the Academy Awards—it’s a jackpot. The studio’s stock jumped 19% Monday. The thriller, which takes on the class divide in contemporary society with dark humor, is the first foreign-language film to win best picture. It also won best international feature film, original screenplay and director for filmmaker Bong Joon Ho.
an investor and a distributor of the film, gained 2.4% Monday.
“Parasite” hasn’t done as well as other nominees like “Joker” at the box office: It has grossed $165 million globally, including $35 million in the U.S., according to Box Office Mojo. But its historic victory may boost global viewership of Korean movies.
Another Asian company that made a cameo in the Oscars hasn’t done as well. Hong Kong-listed Fuyao Glass, which was featured in best-documentary winner “American Factory,” fell 3% Monday.
documentary, backed by Barack and Michelle Obama’s production company, follows the Chinese automotive-glass manufacturer’s reopening of a closed
plant in Ohio.
Write to Jacky Wong at [email protected]
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