Cinemas boom as ticket sales rise as Brits shake off economic gloom and spend on entertainment
Cinema bookings have increased enormously in recent months thanks to blockbusters such as Gladiator II, Wicked and Paddington In Peru.
According to data from financial group Barclaycard, spending on the big screen was 23 percent higher than the same period last year.
Despite higher energy bills and a bleak post-Budget economic outlook, Brits were still keen to spend on entertainment.
Karen Johnson, head of retail at Barclays, said: ‘People are finding ways to enjoy life’s little luxuries, and the festive season is no exception, with consumers cutting back so they can afford magical moments.’
Hot ticket: expenditure in cinemas was 23% higher than last year thanks to blockbusters such as Gladiator II, Wicked and Paddington In Peru (photo)
Tim Richards, founder and boss of cinema chain Vue, said Paddington In Peru had been a ‘huge success’.
He said Wicked “could be the biggest movie of 2024,” with early sales in line with Barbie last year.
But Brits cut back on spending on takeaways, spending 1.1 percent less than last year.
Consumer confidence fell after Chancellor Rachel Reeves’ first budget raised the likelihood that inflation and interest rates would remain higher in coming months.
There was a 0.5 percent decline in overall consumer card spending, Barclays said.
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