'Barbenheimer' - the twin-bill summer box office phenom - sure helped to drive U.S. consumers back to cinemas last month, but movie-going is still struggling to catch up to other recreational spending categories post-pandemic.
A man operates a video camera at the world premiere of the film "Barbie" in Los Angeles, California, U.S., July 9, 2023. REUTERS/Mike Blake/File PhotoNEW YORK, Aug 31 - "Barbenheimer" - the twin-bill summer box office phenom - sure helped to drive U.S. consumers back to cinemas last month, but movie-going is still struggling to catch up to other recreational spending categories post-pandemic.
"'Barbenheimer' appears to have had only a limited direct impact on spending last month, with the outsize $700 million annualized, or 11%, increase in real spending at movie theaters only a small part of July's gain," said Michael Pearce, lead U.S. economist.Reuters Graphics How long that momentum lasts is uncertain amid ongoing strikes by actors and writers that have clouded the outlook for the new release pipeline.
Sporting events were the first to rebound, and live performance admissions came through after that, with concertgoers - many spending about $1,300 per show on Taylor Swift’s Eras Tour - making an impact.
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