Economic Woes Hit Lionsgate Films
According to Variety Magazine, Lionsgate has entered into another phase of layoffs cutting their 
workforce by 8%. Aimed at saving the company $15-$20 million annually as part of a cost-reduction strategy, the company hopes this latest measure will help keep operating costs at $120 million.
Lionsgate is the producer of such films as Tyler Perry’s Madea Goes to Jail and opening this weekend, Haunting in Connecticut.
As much as I hate talking about the economic crisis this country is in (because basically, I’m sick of hearing about it!), still, it’s news for the fim industry when you know that they are also feeling the pinch. But is it really a surprise? The price of a movie ticket ranges between $7 to $11 in some markets. Who can afford that right now? Not even The Reel Box Office Buzz can.
What about you? Are you heading to the movies with friends, the significant other, the family in the near future or to save money are you renting from such companies as Netflix, Red Box, Blockbuster, or cable TV’s In Demand channels? Leave a comment or shoot me an email at lsullivan@wncn.com. I’d love to know your thoughts!
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Lisa,
I was wondering if/when it was going to “hit” the movie industry. I have to agree that it’s costly to go to the movies, even before the “crunch”. For two people with popcorn and drinks, you’re looking at spending around $35-$40. I would rather go to the Red Box (love it!) at Lowes Foods, pay $1 per movie per night and pick up a box of Orville Redenbacher Tender White (best popcorn in the world!) and watch it on my big screen TV that’s already paid for.
That way, I can paws, I mean, pause (I’m sure you got it!) the movie if I need a refill and not miss a single moment.
In fact, it’s time to reserve a copy of Twilight online at the Red Box now. Ohh… can’t wait to see it!