Movie sales stay strong despite weak economy
January 28, 2009
Movie theater prices and a poor economy are keeping many students from seeing a new flick.
Fewer people are going to the movies because of rising prices overall in the economy, said economics professor Khan Mohabbat.
“When prices are high as they are now, there is a lower demand with people going to the movies less,” Mohabbat said.
Students have different reasons why they are going less than they have in the past.
Junior nutrition major Agnieszka Podejko said she’s deterred by high ticket prices.
“I’ve been going less because it’s been so expensive,” she said.
Podejko said she has also found cheaper alternatives to save money.
“Sometimes I’ll go to a cheaper theater after a movie’s been out for a while,” she said. “Or another way I’ll save is by waiting for a movie to come out on DVD and rent it.”
Senior nutrition major Mike Roncal said he looks to save money in the entertainment realm as well.
“As of late, I’ve found myself renting a lot more and watching movies OnDemand,” Roncal said.
When he does go to the movies, Roncal goes with friends.
“Going to the movies is a social thing for me,” he said.
Despite fewer people going to the movies, box office sales aren’t hurting.
According to the Motion Picture Association of America’s Web site, sales for movie theaters reached over $9.6 billion in 2007, up five percent from the previous year.
Mohabbat said higher movie ticket prices is the reason why movie theater sales are still going up.
The MPAA site said the average price for a movie ticket was $6.88 in 2007, up almost six percent from the previous year.