Friday, August 14, 2009

Is there really a recession out there?

Canadians are flocking to the local multiplex in droves -- [Cineplex] sold 18.2 million tickets in the three months to June 30, 2.6 million more than in the same period of 2008 -- helping to drive up the exhibitor's second-quarter profits to $19.8 million, from $6 million in 2008.

Playback says movie ticket sales are up.

I predicted in December that while the crash in credit would hurt showbiz in the short run, in the longer run, the recession might actually help showbiz. After all, TV is cheaper than almost any other form of entertainment, and movies come right after. It's restaurants, theater and travel that are due for the biggest hits.

Good news, anyway. Showbiz has been fairly miserable this past half year, but it looks like things are starting to pick up.

11:13 AM

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