Consumers on Tight Budgets Turn to At-Home Entertainment, Shows Survey From Blockbuster
Movie Rentals Named As Good Value & Distraction In Tough Times
DALLAS, June 4 // PRNewswire-FirstCall // -- Consumers are planning to turn to their home entertainment centers for low-cost, stress-busting entertainment, according to a recent survey. The survey, conducted by e-Rewards on behalf of Blockbuster Inc., examines consumers' plans for entertainment spending during tough economic times in the U.S.
Eighty-eight (88) percent of those surveyed indicated they planned to stay home more in an economic downturn. To stay entertained while feeling the pinch of difficult financial times, 87 percent said they would use their home entertainment center more.
"Consumers cut back in tough economic times, but they still want to be entertained. In fact, maybe they need the distraction even more," said Joyce Woodward, senior vice-president, rental film, Blockbuster Inc. "Rent a movie, and for a couple hours you can relax and escape into a world without pressures like gas price hikes and rising grocery bills."
More than three-quarters (76 percent) of those surveyed said watching movies is a good way to get your mind off life's problems. Close to 80 percent (79 percent) indicated they feel renting movies is a good entertainment value.
"Taking the whole family out for a night's entertainment is a strain on many household budgets these days," said Woodward. "Renting a movie is a low-cost, high-entertainment-value option that many families turn to as a fun activity to do together."
Renting movies is one of several ways consumers said they will increase use of their home entertainment center in a downturn. According to the Blockbuster survey, three of the top five entertainment activities consumers are most likely to continue involve electronic media: watching TV, renting movies and playing video games. The other activities most frequently named as standbys in tough economic times were entertaining at home and grilling in the backyard.
In contrast, survey respondents named entertainment activities outside the home as the most likely candidates for budget cutbacks. The top five activities named were eating out, attending entertainment events like concerts and plays, taking vacations, seeing movies in the theater and going to the mall.
The above survey results are from an April 2008 survey conducted by e-Rewards on behalf of Blockbuster Inc. Those who participated were consumers indicating they believe the U.S. economy is currently in or is headed into a downturn and that they plan to cut back on expenses as a result.
Blockbuster Inc. (NYSE: BBI)(NYSE: BBI.B) is a leading global provider of in-home movie and game entertainment, with more than 7,700 stores throughout the Americas, Europe, Asia and Australia. The company may be accessed worldwide at http://www.blockbuster.com/.
SOURCE: Blockbuster Inc.