LOS ANGELES -- Let the bad times roll.
While the rest of the country reels from the financial crisis, the film industry is enjoying one of its most profitable quarters in years, as cash-strapped consumers forgo vacations and trips to the ballpark to spend a day at the multiplex.
And they're plunking down millions to see an unlikely slate of stars and films.
Kevin James. Liam Neeson. Tyler Perry. All are leading the charge at the box office, which is seeing low-budget comedies and thrillers becoming big-dollar hits.
"I don't think anyone could have foreseen this first quarter," says Steve Rothenberg, president of distribution for Lionsgate, which released "Tyler Perry's Madea Goes to Jail." Despite tepid reviews, "Madea" held the No. 1 spot for two weeks and became Perry's biggest hit. "Things you would never expect to be big are huge."
Through the first nine weeks of the year, ticket sales are at $1.9 billion, according to Media By Numbers. That's up 17% over the same period last year. Revenues typically rise every year thanks to increased ticket prices, but so far this year, attendance is up, too -- 15% over 2008.
The surge has historical precedent. During the recession of 2001, ticket sales jumped 10% -- even with the dramatic moviegoing drop-off after the Sept. 11 attacks. During the Great Depression, more than 60% of Americans went to the movies weekly.
"What people are doing, basically, is weighing their expenses," says Patrick Corcoran of the National Association of Theatre Owners. "When they look at going out, they look at the least expensive thing they can do that's a quality use of their time."
But there's also a psychological element, says Elayne Rapping, a professor of American studies at the State University of New York at Buffalo.
"There's no doubt that people choose cheaper entertainment in tough times, but there's also a need to escape our lives, and movies provide that," she says. "It's even cheaper to stay at home and rent a video or watch cable. But people want to laugh, cry or get lost in action together as a group. It's comforting."
Especially if you're the one making the movies. Rothenberg says he has been surprised less by people flocking to the flicks than by what they're choosing to see.
Kevin James. Liam Neeson. Tyler Perry. All are leading the charge at the box office, which is seeing low-budget comedies and thrillers becoming big-dollar hits.
