Movies Recession-Prone: Another Myth Dies
Hollywood has said that it's recession proof, because in hard times people will seek escape from their worries by going to the movies. The Wall Street Journal (subscription required) reports a new study that found just the opposite--when time are tough, people skip the movie-popcorn-soda expense. Perhaps they watch a movie on broadcast television, or rent a DVD for a couple of bucks. So far this year, box office sales are down 3.27% from last year.
The business planning implication for us outside of Hollywood is to be skeptical of the received wisdom that Industry X is recession proof. Your industry might possibly be recession-proof, or at least recession-resistant, but check the data before accepting that conclusion.
i think hollywood is recession proof. its show when we are down we go to the movies.
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Posted by: rate movies | March 20, 2009 at 10:46 PM