Jose de Leon
Who doesn’t love going to the movies the average american goes at least once a month. Movie theaters promote growth in the economy. With huge movies such as Star Wars the Last Jedi that made $220 million domestic landing the second largest opening only beatted by Star Wars the Force Awakens that made $247million. With the flow of money going in and the jobs that it produces help the Economy grow.
In california 142,000 jobs are created, which is more than all the other states combined. With this it helps to know that even with something that provides so much entertainment it also fight something that is a huge problem in the US. In addition movies are in good demand. Just as fans could wait for the new Star Wars movie or for Marvel to release The Black Panther movie. Fans are what helping the economy grow by going to go watch the movie that sometime lead to them buying goods with the logo of the movie of something to do with it. Movies don’t just make money by the audience going to go watch them they are part of a bigger part were the incorrage for them to buy product of the movie.
From my last visit to the movie I spent about $90 alone on buying tickets for my family and another $20 on food this is another thing that some of us do. We are so willing to go and watch a movie that we don’t really care about how much it cost at the time and while we are there we are more will to buy the over priced food. With tickets normally costing $12, and popcorn about $6 and a soda goes for around $5 that is a total of $23 per person.
The movies are a fun place to go and relax to for after a long day who doesn’t just want to sit back relax and enjoy, while helping the economy grow.
“AMC Concession Prices.” Movie Theater Prices, www.movietheaterprices.com/amc-concession-prices/.
Mpaa.org, www.mpaa.org/u-s-film-and-tv-production-drives-economic-growth-in-every-corner-of-america/.
“The Numbers - Movies Released in 2017.” The Numbers - Where Data and Movies Meet, www.the-numbers.com/movies/year/2017.
I never really paid attention to how each business or place we go to effects our economy. Just going to the movie theater has a large impact on our economy. With people spending their money to watch movies and enjoy little snacks, they are benefiting the economy. Just looking at the image, it shows the box office growth has increased significantly since 1975. Movie theaters are a great thing for our economy and have fairly easy access.
ReplyDeleteI agree that the movies are definitely beneficial to the economy and that even though they are very expensive, people will spend money there because they are willing to do whatever if it means they can see a new movie. Movie theaters are probably a business that will always be around because they are constantly making new advancements in the theater itself as well as the deals that they offer. The movies provide more than just a show because you can get many different types of food and beverages and you can also plan birthday parties at many theaters. The economy is benefitting from this business and as long as people are willing to pay the expensive amount.
ReplyDeleteI agree that the movie theater increases the United States revenue. Especially when they show such big time movies. The movie theater is an inelastic demand, because their prices keep increasing for each movie but people still show up and pay. It is about $10 per person, which is outrageous. There are more and more positive externalities by going to the theater now, because they have installed new chairs, increased screen size, and offer more food amenities. The opportunity costs are lowering because the only one is having to pay a larger amount. Overall if the theaters keep showing these top rated movies, they will continue to be successful.
ReplyDeleteI agree that Americans love going to movies and that helps boost the economy by consumers spending on the latest and greatest movies to see in the UltraScreen because it is the next movie in their favorite series or just because it is new. I would add, though, how much money movie theaters have brought in over the course of the year, and not just specific movies, because there were a lot of new movies that came out this past year that probably brought in a lot more money than just the Star Wars movies. Overall, I liked this topic and the subjects you covered, and it is interesting how much money movie theaters can actually bring in!
ReplyDeleteI agree with you that movies help the economy and are a great way to kick back and relax. That being said, I personally do not think that movies are as popular as they used to be back in the day. This is because people have things such as itunes, and google play where they can buy a movie right there on their phone or tablet. This then takes away the cost of the overpriced food at the movie theaters. Also with prices coming down in premium televisions and premium sound systems, it is becoming easier and easier to build quality home theater systems right at ones home. This then also takes away the desire sometimes to go out and spend $25 at the movies when they can just kick back and watch a movie at home with food that they make and want. But other than those two things, I think your piece was well written and makes some very good points.
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ReplyDeleteI would like to know more about how one very successful movie would affect the growth of the box office. Do largely successful movies change movie or food prices? Could one movie change the amount of times the average American goes to the movies per month? Or could it alter the budget that other movies and movie theaters have to improve their wealth. The boost in the economy is definitely a main effect of these largely successful movies. Good job on covering the main topics of your idea! I did gain a little bit of knowledge on how bigger movies affect the economy.
ReplyDeleteI agree that movies help our economy in a big way. With the huge amount of revenue coming out of movies that are as big as Star Wars. Just think seeing a movie at a movie theater could be around five dollars per person. Know imagine the millions of people coming to see Star Wars for five dollars. That's five dollars per person. Five times a million. That's a huge amount of money we are talking. We don't think that five dollars for one movie can that big of a deal but you ave to think about how many people are coming to watch this movie in theaters and buying online and at stories.
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ReplyDeleteI agree that this has a great impact on the economy. With that being said, movie theaters make most of their money through concessions. Although Star Wars is one of the most popular movies of all time, and you may think that they are getting a lot of money but in reality it may not be as much as you think. Disney takes 70% of all sales while the theaters get to keep 30%. Don't get me wrong its still a lot of money they are making, but its important to note how much Disney is taking out.
ReplyDeleteI agree that movie theaters have a large, and positive, impact on the economy with all of the revenue they bring in. This revenue not only allows the theater to pay for the film itself, but also pay it's employees who can in turn go and spend their money in other goods to keep the economy functioning. The concession prices are a really good point to bring up to illustrate the high demand of goods, and can demonstrate how the snacks are a complementary good to the movie. The demand is high for the movies so regardless of the ticket prices (which can sometimes be discounted on $5 days), people generally want at least a drink or popcorn while watching. This increased demand of movies allows theaters to raise their own prices of food since the average consumer will consume both goods together.
ReplyDeleteI agree that movie theaters helps boost the economy. Many people think that theaters are old and no one goes to them, but that is not true. There are so many amazing theaters that have nice chair and everything that many people go and visit theaters. Movie theaters have an inelastic demand because the prices keep increasing and people still come to watch. In the future movie theaters will keep boosting our economy as more people will come and the movie theater business will not end.
ReplyDeleteMovies definitely help the economy as with each new movie, people become even more excited. In our society where people are continually moving and going, many people lack patience and therefore waiting to see a movie to save money is not something many people desire. Besides, going to the movies provides a fun day with friends and family. Although the food in movie theaters is expensive, like you said, many people are willing to pay because it makes for a better movie experience. Overall, the prices at the movie theater rarely defer people from going which helps with a constant flow of money through them. This helps create jobs as the popularity of movie theaters spans across our country from small towns to big cities.
ReplyDeleteIt's interesting that movie theaters are still extremely popular in today's society. We have advanced enough technology that you would think there would be a website similar to Netflix for new movies. However, that is clearly not the case. People are still going out to sit in a room with a bunch of strangers to watch the newest films. The fact that movies are extremely well advertised may have something to do with the large crowds that emerge when a film is released.
ReplyDeleteI found it interesting on how the movie industry makes such a large impact on the economy. I knew that the new Star Wars movies generated a significant amount of revenue, but I never realized how much that money contributed towards the economy. In addition to that, I agree that the over priced food at the concessions will greatly add to that revenue as well. Furthermore, I predict that the movie industry will boost the economy in the near future. This is because a new Avengers movie is due to come out and I already know that this movie is going to get a tremendous amount of ticket sales. That is why we should probably expect to be another rise in the economy thanks to the movie industry.
ReplyDeleteOne thing that was interesting about this article is that.I never really looked at the movie industry impacting the economy.I never really looked at the bigger picture. Once I read the blog post I started to realize what an impact on the economy movies have.The crazy thing is that the food and the drinks make up for a lot of the revenue as well.I thought about this further and I started to realize that people always complain about the food prices when 10 to 15 dollars to see a movie isn't bad at all and if they were to lower food they would just bump up the prices for the movie anyway because there has to be a trade off.
ReplyDeleteAs companies like Netflix and Hulu expand, the movie industry feels the effects as more and more movie's are not being shown in the theaters but are produced and shown by these internet companies. Not only that but pirating movies has become quite common which takes away revenue from the theaters and movie monsters who impact the economy as you write.
ReplyDeleteI agree that movie theaters make a bunch of money off of tickets and concessions. They really seem to jack up the prices of movies. If you go to the movies most people love their popcorn so they will but that which is at an absurd price. I feel like movie theaters are starting to get better by offering rewards to people and new chairs that recline and are much more comfortable than the old ones.
ReplyDeletePopular movies sure benefit the economy. It's even common for people to go see a movie a few times, which accounts towards the total revenue of the movie and the price of the ticket. No matter what people will continue to see a movie at pretty much a variety of prices. Doing specialties like $5 tuesdays brings probably a larger of number of revenue despite the half price basic ticket. Substitutes are very easy to bring into the equation though. Amazon Firefox, Netflix, Hulu, Demand T.V., you name it. What brings people to the movies is the experience of doing the whole concessions and special seating when a brand new movie comes into theaters. As long as people don't become introverts about movies and stay home, a quality theater will do it's job nicely.
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