- Traditional thinking has been that Hollywood is recession-proof because consumers will continue to go to the movies in lieu of more expensive entertainment. A recent study has caused some doubt about whether this remains true for today's economy — it found that going to the movies may actually be one of the first activities cut by cash-strapped consumers. — The Wall Street Journal
- Bummer for bank employees: Compensation consultancy firm Johnson Associates has projected some bankers' bonuses will be about half of last year's payouts, and most can expect a 15 percent to 25 percent reduction. Other employees could see their bonuses go down as much as 30 percent. — CNN Money
- Are you an ex-urban? You might know the answer by asking yourself if you spend half your housing expenses on gas. Ex-urbans, country-dwellers with city jobs, are being crushed more than most by relentless gas prices. — ABC News
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I think it makes sense that people cut movies first when they're strapped for cash. I used to go every week, and now I'm trying to budget - I gave myself $10/month for movie outings. I still have netflix, and I might utilize a redbox if I find one near where I live... but seeing movies when they come out is going to be a lot less frequent an activity.
1Traditional thinking is kind of crazy. Lots of people can't afford entertainment that is more expensive than movies even when the economy ISN'T bad!
2see - i'm not sure if i'm 100% on board with this one. i think that for myself - i would rather spend $8 to go to the movies and know that i've done something for the night instead of going to a bar and spending at least $30. but i can understand how some people don't follow suit.
i think that one of the impacts though is that the cost to do a lot of the effects has to be going up - with the gas powered explosions - so i have a feeling that we'll see a rise in the cost of movie tickets to compensate.
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