Box Office Sales Buoyant in 2009
Posted on Dec 14, 2009
Which industries actually thrive in the midst of a crippling recession? There are many ways to approach that question, but over the past year, Americans looking for low-impact escapism on a budget went to the movies, and they did so in numbers that might put some of the hand-wringing about the impact of the Internet and the economy on the film business on hold, at least for the time being. —KA
Los Angeles Times:
As consumers spend less on other leisure activities like travel, eating out, sporting events and shopping, they’re turning to the movies as a relatively cheap way to get out of the house, even with the price of tickets exceeding $10 in most Los Angeles theaters.
The box-office boom has not only surprised many in Hollywood, but provided a much-needed source of revenue growth as DVD sales have plunged more than 13% so far this year.
And it has proved that despite a digital revolution in the ways audiences consume content, one of the oldest methods has not lost its appeal.
AP / Robert F. Bukaty