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It's not the economy, stupid! External effects on the supply and demand of cinema entertainment


von Rimscha, M Bjørn (2013). It's not the economy, stupid! External effects on the supply and demand of cinema entertainment. Journal of Cultural Economics, 37(4):433-455.

Abstract

The paper addresses whether the state of the economy impacts the supply of and demand for cinema entertainment. A literature review on the drivers of cinema supply and demand is provided, and two competing hypotheses are extracted. Economic downturns could either lead to a sober mood and drive the interest in serious genres or drive the need for distraction leading to an increased interest in feel-good or action movies. However, characteristics of the movie industry suggest that economic key factors have only limited effects on supply and demand. A time series analysis of supply and demand in three major European markets indicate that demand is unrelated to the state of the economy. In aggregate, the demand does not instruct supply. Fluctuations in individual movie quality superpose potential effects of the economic context on the aggregated demand. Simultaneously, a focus on film as art superposes potential effects of the economic context on the supply.

The paper addresses whether the state of the economy impacts the supply of and demand for cinema entertainment. A literature review on the drivers of cinema supply and demand is provided, and two competing hypotheses are extracted. Economic downturns could either lead to a sober mood and drive the interest in serious genres or drive the need for distraction leading to an increased interest in feel-good or action movies. However, characteristics of the movie industry suggest that economic key factors have only limited effects on supply and demand. A time series analysis of supply and demand in three major European markets indicate that demand is unrelated to the state of the economy. In aggregate, the demand does not instruct supply. Fluctuations in individual movie quality superpose potential effects of the economic context on the aggregated demand. Simultaneously, a focus on film as art superposes potential effects of the economic context on the supply.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:06 Faculty of Arts > Institute of Mass Communication and Media Research
Dewey Decimal Classification:700 Arts
Language:English
Date:2013
Deposited On:06 Nov 2012 15:55
Last Modified:05 Apr 2016 16:03
Publisher:Springer
ISSN:0885-2545
Publisher DOI:https://doi.org/10.1007/s10824-012-9192-4
Permanent URL: https://doi.org/10.5167/uzh-66177

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