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Theater admissions fall in ‘08
posted by
Michael Zoldessy
on
January 30, 2009 at 3:35 pm
It certainly wasn’t a win, but a not so serious decline and current increase in ticket sales provide a bright pictures for theaters.
Theater admissions fell less than anticipated in 2008 — 2.5% — while they are up a sizeable 4.5% so far this year.
Tallies provide further evidence that moviegoing has become a favorite pastime in brutal economic times.
Industry estimates released at the end of December showed that admissions for 2008 were running 4%-5% behind 2007.
Read the full story in Variety.
Comments (1)
The point of this story is that revenue was only up a little over 1% while attendance dropped 2.5%. Average ticket prices increased by about 30 cents. It shows a direct correlation that when you raise ticket prices, you lower admissions. And if it was not for The Dark Knight’s stellar $500 million take, both admissions and revenue would have been down for the year.