Tuesday, November 11, 2008

Entertainment Not Recession-Proof

Los Angeles Times, 10/29/08:

For decades, entertainment executives have boasted that Hollywood is "recession-proof." No matter how dire the economy, the argument goes, consumers will always be willing to spend on entertainment to escape. ...

This time, however, past may not be prologue. Unlike the rudimentary entertainment economy of 75 years ago, when the downtown Bijou was about the only diversion, consumers now have a near-limitless array of entertainment options to occupy their leisure time.

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