The 2015 Oscars are getting closer, and it seems like everyone is rushing to watch the hot flicks before the winners are announced. While several are available via video-on-demand and other digital channels, others require consumers to head to the movie theater, an activity some believe is dying. After a year-over-year theatrical box office decline in summer 2014, PricewaterhouseCoopers (PwC) took a look at the trend in a November 2014 study.
Despite the decline, PwC found that just one-quarter of US adult moviegoers had cut back on theater visits, and a similar percentage (27%) said they had gone more. The remaining 48% hadn’t changed their frequency.
Among those who had decreased theater visits or hadn’t changed their habits, higher ticket prices were the biggest reason (53%). What’s ironic is that 82% of consumers were willing to pay between $10 and $20 more than a ticket price to watch a newly released movie at home while it was in theaters—maybe because they would have spent that on snacks (extra buttery popcorn, anyone?), or maybe because the couch is just more comfortable and convenient (30% preferred to watch on their own schedule).
Other price-related reasons included a preference to spend money on other recreational activities (29%) or on going out to dinner (19%), and 18% said they didn’t have the same disposable income as they had 12 months ago. Read the rest at eMarketer.