Is entertainment the recession-proof industry?

Well, it appear that the old adage of the “starving artist” is not necessarily true. According to Hollywood Reporter, the film industry reported has reported an average 2% year over year increase, reaching a record of $9.78 billion in gross box office sales. And those figures are just the box office–they don’t include rentals, DVD sales, licensing, or any other ancillary sales. According to figures on the Digital Entertainment Group’s website, DVD shipments in 2008 reached almost $10.3 billion just in North America alone, almost double the amount from three years ago. Though there are many changes happening in the industry with the advent of file sharing and availability of online media, it is evident that the industry is still making money, and still has huge growth potential.

My thoughts?

“Show me the money!” ?

Sources:
Hollywood Reporter http://www.hollywoodreporter.com/hr/content_display/film/news/e3i7fcfe6ddd3b5d6c2eb0c8cc511b3bb7f

Digital Entertainment Group http://www.dvdinformation.com/industryData/index.cfm

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