![]() |
|
Escapism is big bucks during financial crisis
Times are bad and people are tightening their belts. But some folk in the entertainment industry are laughing their way to the bank.
TIMES are bad and people are tightening their belts. But, surprise, some folk in the entertainment industry are laughing their way to the bank. Disney, for a start, is thriving on feel-good films like High School Musical 3. Released last week, it has reaped a staggering US$82 million (S$123 million) worldwide. Disney's last movie, Beverly Hills Chihuahua, released in the United States early this month, is another global big hit, making US$90 million. 'People really seem to want to get out and have some fun that is relatively affordable,' said Mr Mark Zoradi, president of Walt Disney Motion Pictures Group, in a New York Times report. In comparison, heavier stuff like political-action flick Body Of Lies and Oliver Stone's satirical film W. are not drawing huge audiences. The former made US$37 million worldwide, and the latter, only US$18 million. Times of strife can help sell escapist fare. After the Sept 11 attacks, American box-office revenue rose 8.6 per cent, the Los Angeles Times reported. Other media also enjoy a boom. Australia's hard-rock band AC/DC shot to No. 1 in Britain over the weekend with its latest album, Black Ice - its first time in 28 years. They were last at the top in the 1980s when Britain was facing recession. As The Guardian explained: 'People crave something uncomplicated and dependable in a time of uncertainty, and rock music has never produced a band as uncomplicated and dependable as AC/DC.' Last week, Borders and Amazon also revealed their largest book sales - behind tomes on finance - are fictional thrillers. 'We're really looking at that as the place that people are escaping to,' Borders told Reuters.
|
| Privacy Statement Conditions of Access Advertise |