Theaters see 14% increase in attendance this year

Jason Fritz

Staff member
Lately, all of the financial news I've been reading about the economy has been bad, terrible, negative, insert derogatory word here.

Was shocked to see that theater attendance has increased. The summer movie lineup looks even more promising.

A slumping economy hasn't doomed exhibitors. In fact, attendance is up -- and so is the revenue.
By Richard Verrier > > >
May 16, 2009
A banner year at the box office driven by films including "Fast & Furious," "Star Trek" and "Hannah Montana" is turning out to be a powerful recession vaccine for the nation's biggest movie theater chains. ¶ Only a few months ago, investors feared consumers' reluctance to spend money would keep them at home and from going to the movies, depressing business at the country's 5,800 local theaters. ¶ Like a twist ending to a Hollywood thriller, attendance at theaters this year has jumped 14%, according to tracking firm Box Office. ¶ Theater operators may have the weak economy and penny-pinching consumers to credit.

"Much like the 'dollar stores' in retail, the movie theaters are picking up a certain amount of discretionary entertainment spending, such as money spent on video games, staying in fancy hotels and going on long vacations," said Chris White, an analyst with Wedbush Morgan Securities.
Source: Theater owners see upswing amid a downturn - Los Angeles Times


, Blogger: Orry's Orations
I admit I'm surprised. There was the possibility that the swine flu might interfere with that too. It might be that it's still less expensive to go to the movies than to go out of town for a weekend. Maybe it's being used as 'the treat'.