Tuesday, December 30, 2008
The Recession and Entertainment
one statistic particularly stuck out when i took my world cinema class two semesters ago. the textbook said that during france’s economic depression decades ago, box office sales soared. apparently, because inflation made material goods too expensive, people didn’t have much left to spend their money on, so they bought movie tickets. for the french, movies became a place of escape from the harsh realities surrounding them.
i was talking with my dad when i worked in the local music industry over the summer, and he was concerned about how the economy would affect the entertainment industry. i didn’t have concrete evidence, but i had a hunch from my world cinema textbook that the entertainment industry wouldn’t be adversely affected by a recession. although a few lines in a textbook isn’t nearly enough information to draw conclusions from, a recent headline caught my eye:
although the article states that grosses are down 0.9% from last year, the Christmas weekend pulled in some really good ticket sales. i’ll be keeping my eye on this.