NEW YORK : 'Barbenheimer' - the twin-bill summer box office phenom - sure helped to drive U.S. consumers back to cinemas last month, but movie-going is still struggling to catch up to other recreational spending categories post-pandemic.Outlays for movie theater-going grew in July at an annualized rate of
NEW YORK : "Barbenheimer" - the twin-bill summer box office phenom - sure helped to drive U.S. consumers back to cinemas last month, but movie-going is still struggling to catch up to other recreational spending categories post-pandemic.
The release of Warner Bros.'"Barbie" and Universal's"Oppenheimer," marketed as an unlikely double feature, spurred ticket sales and they continue to defy what is typically an end-of-summer slump. While that helped long-suffering box office receipts, it made less of a splash for overall consumer spending when compared to larger categories like clothing and household furnishings, economists at Oxford Economics said.
How long that momentum lasts is uncertain amid ongoing strikes by actors and writers that have clouded the outlook for the new release pipeline. Sporting events were the first to rebound, and live performance admissions came through after that, with concertgoers - many spending about $1,300 per show on Taylor Swift’s Eras Tour - making an impact.
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