Despite Downturn, The Movie Industry is Booming
LOS ANGELES — Hollywood could get used to this recession thing. While much of the economy is teetering between bust and bailout, the movie industry has been startled by a box-office surge that has little precedent in the modern era. Suddenly it seems as if everyone is going to the movies, with ticket sales this year up 17.5%, to $1.7 billion, according to Media by Numbers, a box-office tracking company.
And it is not just because ticket prices are higher. Attendance has also jumped, by nearly 16%. If that pace continues through the year, it would amount to the biggest box-office surge in at least two decades.