The entertainment industry appears to be surviving the downturn as more consumers look towards home entertainment options as alternatives to expensive nights out.
The Franchise Entertainment Group, which operates the Video Ezy and Blockbuster DVD rental chains, has recorded a 10% increase in rentals during 2009 so far.
A survey from DVD rental company Quickflix also shows that over 60% of respondents are now choosing to stay home and watch films. Marketing director Ben Hammond has told news.com.au that memberships have increased by 28% in the past six months.
“Memberships to our online DVD rental service has increased and our members are watching more movies than ever,” he said.
Hammond also points to a rise in LCD television sales in December as a sign that customers are preparing to spend more time at home than out spending money.
“We are seeing many of our customers and potential customers cocooning – preparing to spend more time at home,” he says.
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
