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How is the price of entertainment increasing every year?


Have you ever noticed that the prices of tickets are increasing every time you go to watch something whether it is a movie, sports events or a restaurant?

Why are these becoming more and more premium?

Well, most people feel the same. So, how close is it to reality?

According to Statista from 2017 to 2019 (also known as, “the last normal year”) the prices of movie tickets have remained almost constant. Before that too, ticket prices were barely catching up to inflation rates. And this is true for most parts of the world. Yet the ‘cost’ of going to watch a movie has increased.

Entertainment prices, in general, are felt to be increasing all over the world. This is again a dreary reminder that incomes are rising slower than expenses. So even if prices are not rising much, they end up taking more proportion of your income. If prices are increasing, why are people choosing to spend an increasing proportion of their incomes on entertainment? The reason being whenever the economy becomes dull the first thing overboard is entertainment.

Right?

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Well, the answer is that even though the median incomes are not rising (not much after adjusting for inflation), the population of people having a median income is rising at a tremendous rate. And so, more and more people can afford such entertainment. This is especially true in markets like India and China both of which now have the biggest middle-income markets in the world.

Not only that but there is also a growing tendency to go to Multiplexes which are run by the corporates and the rich and they know exactly how to extract money out of your pockets. And as when the economy softens the first thing overboard is entertainment, likewise when you earn more money the first thing onboard is entertainment.

An increasing portion of the rise in entertainment prices is going towards increasing labor costs. And no, we’re not talking about top-notch executives and actors and sportspersons. Entry-level jobs have become more and more expensive. A popcorn server now takes more money than they used to 20 years ago. Stadium and theatre maintenance workers are being paid more. This is the main reason why small theatres and malls are fading out of the market and are being replaced by corporate-run complexes.

Rise of OTT (over-the-top) Platforms

A growing number of young people are deciding to stay at home and binge-watch on just Netflix instead of going out of their comfort zones and risk wasting time and money on a theatre show. The main reason being the strain on their finances. Earning money is becoming harder daily, and spending money on movie tickets is not everyone’s top priority.

OTT platforms differ significantly because they are generally cheaper and more comfortable than a movie night which usually involves travel expenses, snacks, and other entertainment expenses, and shopping on top of movie tickets. Moreover, the choices and quality offered by these platforms brutally beat the hassles of to going watch any movie.

The trend of OTT streaming was only accelerated by the pandemic which has now pushed everyone indoors and given an excuse to anyone already not wanting to go on expensive outings. Add to that the fact that hundreds of thousands of people are coming out of poverty and into the middle class. They too will be looking for ways of entertainment and OTT platforms will be already there, offering the hottest stuff in the market at the cheapest prices.

DTH (Direct to Home) Services

The stay-at-home culture bought by the pandemic has definitely played to the advantage of DTH service providers. They have cashed in on the opportunities brought by the pandemic, however, in a fast-changing market, DTH services are becoming irrelevant faster than ever. The nostalgia fever brought by the lockdowns has just given oxygen supply to the dying industry. In India too, the rapid advent of first, electricity and then broadband to remote villages, has given consumers a variety of choices of entertainment on the Internet.

DTH prices have been rising too and with the internet becoming a necessity, people with tight pockets prefer to invest in the internet than on TV where you get more bang for your buck. The younger generation now prefers to watch privately on laptops, smartphones, tabs, etc. rather than on TV. So, while currently DTH service providers are reaping profits and registering growth, it is not sustainable, unless the industry improvises. Their future remains uncertain in face of stiff competition.

So is there any hope for common people like us or can we say goodbye to entertainment from our lives? What do we do, where do we go?

Well, if you are not prepared to shell out your money for expensive entertainment

mediums we’ve some go-to ideas for you.

  • Develop a hobby

Rather than wasting your time on movies or web series invest it in a

hobby.

If you find solace in an activity of your choice, not only will that help in your personal

development it can be something to show off on your resume too. Gardening, Reading, Dancing, programming, digital art, or a sport maybe. All well-known people follow some sort of interests or hobbies. Or do only people with hobbies become well-known? Well, why take the risk? Better be on the safe side.

  • Multiplayer Games

Yes, a game! If you want some digital entertainment, multiplayer games are still better than watching a movie or series. Now, before you declare me a game nerd, know the reasons. The interaction with friends or strangers maybe which happens in multiplayer games is still better than having no social interaction at all as happens while watching movies quietly in a corner. It also keeps your instincts sharp. But be careful not to overspend time here or I won’t be responsible for your loss. 😉

  • Free Entertainment 

‘Baby you don’t need dollar bills to have fun tonight.

Cheap thrills are always there and are sometimes more fun. No need to pay for OTT platforms or websites plenty of good content is available on YouTube or social media sites in every genre. While ads will pester you that is a nominal price to pay. Infotainment is available on a myriad of topics without any charges. You can also listen to songs from all over the world. 

In the end, it is purely your choice whether you wish to spend money or not. If the only goal for your consistent pursuance of entertainment is to make yourselves happy, then you can make yourselves happier even without the entertainment itself. You don’t need to spend money. There’s plenty to make your life cheerful.😊

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