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U.s. Movie Attendance Drops To 1997 Level

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http://globaleconomicanalysis.blogspot.com/2010/08/movie-attendance-drops-to-1997-level.html

Movie attendance is down but increased prices made up the difference for now. Bloomberg reports Summer Movie Box-Office Attendance Falls to Lowest Since 1997

Summer movie attendance fell to the lowest level since 1997, while soaring ticket prices produced record revenue for Hollywood studios and theater owners.

The number of tickets sold from the first weekend of May through the U.S. Labor Day holiday is expected to drop 2.6 percent to 552 million, Hollywood.com Box-Office said yesterday in an e-mailed statement. That would be the lowest attendance since summer moviegoers bought 540.3 million tickets in 1997.

“The movies just didn’t excite people the way they needed to,” Paul Dergarabedian, president of Hollywood.com Box-Office, said in an interview. “When you raise prices and perceive that quality goes down, you have a major problem.”

Summer box-office revenue will rise 2.4 percent to a record $4.35 billion in the U.S. and Canada as higher prices more than make up for the lower attendance, Hollywood.com estimates. The average ticket price will increase 5.1 percent to $7.88 from last year’s $7.50, the biggest gain since a 6.3 percent jump in 2000, Hollywood.com said.

The price-conscious majority appears to be overwhelmed by the price-insensitive wealthy, at least for the time being. How much longer this lasts with cheap movie rentals and another downturn in the economy remains to be seen.

Regardless, the results portray an increasing dichotomy between the "haves" and the "have-nots".

As long as Hollywood can get away with inceasing prices, they will do just that, even if it means an increasing percentage of customers are "priced out".

It will be interesting to see if these attendance falls continues as the recovery gains momentum.

So far the fall can be made up for with higher ticket prices.

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Interestingly, in the Great Depression cinema audiences rose.

Partly this was because cinema was new & exciting and it was more or less the only thing to do... but it was cheap and people went a few times per week.

Hollywood has done to itself with 'stars' what we have done to ourselves with houses IMPO.

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On a related theme, an article in the FT a couple of days ago highlighted how spending in the US is diverging into two distinct categories, with retailers catering to the wealthy doing well, and low-cost stores struggling.

Luxury booms while bargain retail suffers

Nearly a year after the US economy returned to growth, corporate earnings reports in recent months have provided consistent evidence of the differing fortunes. At high-end stores such as Neiman Marcus and Tiffany, shoppers are demonstrating confidence and spending with vigour. At the other end of the retail spectrum, consumers are cautious amid economic uncertainties, denting the earnings of groups such as Walmart.

I suggest most people start reading Charles Dickens and learn to doff their cap.

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Raise ticket prices.

Less people can afford to attend.

Raise ticket prices to maintain income.

Less people can afford to attend.

Repeat until movie has one viewer and ticket price is $30m.

Blame internet movie pirates.

Sue EVERYONE.

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Raise ticket prices.

Less people can afford to attend.

Raise ticket prices to maintain income.

Less people can afford to attend.

Repeat until movie has one viewer and ticket price is $30m.

Blame internet movie pirates.

Sue EVERYONE.

Sounds like a plan.

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It's natural it will drop. More and more people have big HD tv screens, and surround sound systems. They can enjoy a movie at their own pace in the comfort of their own home.

They can enjoy not being ripped off for food and drinks and not have to listen to chavs talk during the movie, children cry and whine etc etc

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Raise ticket prices.

Less people can afford to attend.

Raise ticket prices to maintain income.

Less people can afford to attend.

Repeat until movie has one viewer and ticket price is $30m.

Blame internet movie pirates.

Sue EVERYONE.

Same with housing. Must be about time for the film industry to bend the ear of bernanke for some QE to allow poeple to go to the pictures like normal.

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It's natural it will drop. More and more people have big HD tv screens, and surround sound systems. They can enjoy a movie at their own pace in the comfort of their own home.

They can enjoy not being ripped off for food and drinks and not have to listen to chavs talk during the movie, children cry and whine etc etc

You don't have a family then? :)

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That's why you can enjoy films in the comfort of your own home. :lol::lol:

But even with kids, surely it would be better at home. Then you have only your own kids (and not others), you can put them in their room and lock the door at your convenience. You arent paying over the odds for popcorn, drinks etc etc

Isnt this the same reason why pub are dieing? You can have a better cheaper time in the comfort of your own home?

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Surely the answer is to let unknown good but cheap actors have a chance rather than paying an obscene amount for the same old faces that I couldn't care less about. I think you get to a point where you have seen just about every storyline anyway and its time to stop going to the cinema.

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It's natural it will drop. More and more people have big HD tv screens, and surround sound systems. They can enjoy a movie at their own pace in the comfort of their own home.

They can enjoy not being ripped off for food and drinks and not have to listen to chavs talk during the movie, children cry and whine etc etc

Amen to that brother.

And anyone who dares to stand up to these fvcking chavs with their anti social behaviour in places like cinemas and public transport, stands to get bleach thrown over them, stabbed in the heart or dragged down the cop shop for so much as touching one of the little b*stards!!

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Amen to that brother.

And anyone who dares to stand up to these fvcking chavs with their anti social behaviour in places like cinemas and public transport, stands to get bleach thrown over them, stabbed in the heart or dragged down the cop shop for so much as touching one of the little b*stards!!

That's why you joined the army, right? To defend their rights.

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Interestingly, in the Great Depression cinema audiences rose.

Partly this was because cinema was new & exciting and it was more or less the only thing to do... but it was cheap and people went a few times per week.

And also because the conversion to sound had just taken place, which gave it added novelty value.

I worked in the cinema industry (part-time for most of the time while a student, but pretty much continuously) for over a decade, from when I was a teenager in the late '80s until 2001. Between around 1996 and 2000, I reckon that the ticket price more than doubled in real terms. During the early '90s recession audiences boomed, I suspect because of people downgrading from the theatre, gigs and other forms of live entertainment to a cheaper night out. But with the combination of tickets at a tenner each, worsening behaviour in auditoria* (especially mobile phones), the growth of the DVD, cheap Chinese imported home cinema gear and the fact that most cinemas are multiplexes you have to drive to (and the town centre ones that remain are boutique operations like City Screen, Curzon etc., which have a limited range of films and are stratospherically expensive), I'm surprised that audiences haven't fallen off a cliff.

* The moment when I realised I was done in that industry was one weekday afternoon when I started the ad and trailer reel before Gladiator and saw nothing on the screen. I closed and opened the changeover shutter again, satisfied myself that the lamp was on, and even saw the image reflected in the porthole glass. But still a blank screen. Some teenage fooker had sprayed black paint over all the projection portholes.

Edited by The Ayatollah Buggeri

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I could have this wrong, but I thought we were moving contra-trend film wise compared to this US. Their attendances have been collapsing for a while, ours have been steadily rising. Makes it hard to conclude what this is really about with regard to the economy. My suspicion is that in the US you have to think about cars and petrol given the sprawl but that in itself doesn't seem sufficient.

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  • 146 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
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