When things start to look bad, as they do right now, people change their behavior. They lease more stuff, for instance, and – as the golden age of Hollywood can attest – they go to the movies more often.
Domestic box-office revenues went up in five of the past seven recession years dating back to the 1960s, according to research compiled by the National Association of Theatre Owners.
As film critic and film historian Leonard Maltin noted, when people stop eyeing that plasma TV and monthly payments, they tend to start shelling out $10 for the occasional movie ticket instead.
It should be interesting to see if there will be any such spike with live music.