As Economy Dips, Hollywood Usually Booms
By Behind The Scenes TV on Mar 12, 2008 in Commentary, Film Business
Hollywood thrives when the economy dives.
It was true during the Depression, when Americans managed to scrape together nickels and dimes for an escape to the movies. And as the prospect of another recession looms, studio executives say this time is no different.
Even as evidence mounts that people are tightening up on other expenses, movie attendance this year has been running ahead of 2007 numbers — welcome news at ShoWest, the annual convention of theater owners, which opens here Tuesday.
Domestic box-office revenues went up in five of the past seven recession years dating back to the 1960s, according to research compiled by the National Association of Theatre Owners.
(Source: Associated Press)
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