Despite some notable blockbusters, it’s been a pretty bad twelve months for movie studios.
Theaters may offer massive screens and superior surround sound systems to movie-goers, but most would rather stay in their comfy confines home and watch DVDs, the survey showed. The majority (63%) said they would rather have free unlimited DVD rentals with no late fees for a year than a year’s worth of free unlimited movie passes (30%).
You can certainly count me in on that. Why might this be? You’ll never guess:
High ticket prices (30%) and a dislike for the movie selections (30%) are the top reasons given for falling movie attendance – 13% said they don’t like the crowds in the theater. Those age 18-24 are most likely to complain about costly tickets – nearly half (46%) said high ticket prices have kept them away from the theater. Among older adults, dissatisfaction with the film selections is the main deterrent – 46% of those age 65 or older said this.
Here are some other results that should concern movie studios:
Nearly half (45%) said that, while they still go to the movies, their movie attendance has decreased from five years ago – 27% said it is much less, and 9% said they never go to the movies anymore, a recent Zogby Interactive poll shows.
Finally, with a graying population, this has to worry Hollywood: “[A]nd the oldest respondents (age 70 or older) are most likely to say they no longer go to the movies at all (23%).”
With the baby boomers about to retire, that’s certainly not what any industry wants to hear. The question is whether the elites in Hollywood are going to listen to what the population is clearly saying about their product, or continue to become less and less relevant in a world with more and more entertainment options.