Vol. IX, No. 3, April 2009
Out-of-home community entertainment proving recession proof
Americans are continuing to seek local entertainment diversions from their angst attributable to the recession's economic turmoil. To briefly forget their troubles they are seeking refuge at movies, museums, family entertainment centers (FECs) and other affordable community-based leisure venues.
Americans are continuing to seek local entertainment diversions from their angst attributable to the recession’s economic turmoil. To briefly forget their troubles they are seeking refuge at movies, museums, family entertainment centers (FECs) and other affordable community-based leisure venues. 2009 movie ticket sales in the U.S. through March 27th are up 10% compared to 2008. This same trend occurred with movies during 5 of the 7 previous recessions. During the Great Depression, movie attendance soared. Most museums that cater to a local market rather than the tourist market are also reporting increased attendance. We are also getting reports from many FEC-type venues that they to are seeing increased attendance. Local leisure venues with approximately a two-hour length-of-stay, in the cost range of going to the local cinema and that offer good perceived value are mostly the ones seeing increased attendance
Americans fearful of their economic futures are putting vacations on hold. But they still feel they deserve a treat now and then, so they are spending a few hours and a few bucks at the movies, FECs and museums. Paul Degaraberian of Media by the Numbers that tracks the movie box office puts it this way, “Going to the movies is the new vacation.” The equation works this way, according to Dergaraberian: "Recession meets escapism equals box office.”
