Tuesday, August 05, 2008

Show Business Thrives During Depressions

The importance of telling stories is likely to become a lot more important, but should we really be spending more time at the movies (rather than say, weeding the garden and planting potatoes?
clipped from www.bloomberg.com

Hollywood is also getting help from a sluggish U.S. economy
and rising gasoline prices as people look for diversions close
to home, said Steve Mason, film analyst for the
FantasyMoguls.com Web site. He predicts industrywide sales will
rise as much as 5 percent this year to about $10.1 billion.

``The movie business has increased in six of the last eight
depressions,'' said Mason, who is based in Los Angeles. ``People
aren't traveling. They're staying home doing things that are
more affordable.''

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