Movie tickets: an indicator of the food economy?
Movie tickets are expected to rise by 30% this year, says the May 19 Advertising Age. Why? Popcorn, of all things. The price of popcorn is rising; popcorn accounts for 45% of movie concession sales; and concession sales account for 25% of movie theater revenues on average and 40% of the revenues at smaller ones. This year’s popcorn crop is down 10% because of the corn-for-ethanol fiasco, and the price of cooking oil is up by 24%. Oh. And the paper tubs now cost more than the popcorn itself. Who knew?