Filmmakers rejoice. Movies are up in a down economy. How is this possible? Film Journal International has some numbers:
"You would hardly believe that a recession was in full swing in the country if you attended a major multiplex in the U.S. during a recent weekend. This editor caught two films at the AMC multiplex in the Garden State Plaza Shopping Mall in New Jersey and it was evident from the huge crowds that box office for the weekend was up considerably. The crowds spanned all ages and it was wonderful to experience the power of the movies.
For decades, it has been said that the film industry is recession-proof or, as it is referred to now, “recession-friendly.” During these uncertain economic times, people are being very careful about how they spend their money and tend to be attracted to lower-cost, closer-to-home entertainment activities. So what’s better than the movies?
There may not be an abundance of cash in the hands of John Q. Consumer to take expensive vacations or eat at the best restaurants or buy a new car, but there certainly appear to be enough dollars to feed the hunger of the masses for filmed entertainment. Week after week since the beginning of the year, movies have performed extremely well. Holdovers are stirring the fire, and the impressive hot streak of 2009 continues. As of Feb. 16, year-to-date box office was 15 percent higher than last year’s, and the Presidents’ Day weekend gross was up an impressive 32% from 2008. People are flocking to nearly everything on the big screen, and with this kind of depth in the marketplace, 2009 can be a giant year."
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