0523 concert business

Today, I read the article Bruce gave me. In this article, it shows that people still spent money watching shows or live concerts, even if the terrible economic situation made them decrease their expenses.

Even though people decrease their expenses of entertainment, they still want to need amusement to make them feel happy in current depressed period. Therefore, they cut down the expense of entertainment they can do in the future. For example, having a travel in Miami, going to bar in the weekend, or going to amusement parks. Instead of these, they spend money watching a show or live music in the concerts because they probably won't have those chance to see shows if they miss these shows. This is why people save the money on entertainment, but the revenues of concerts do not slide extremely.

This article also reminds me I read a similar in the newspaper before. It said that in the economic crisis, many corporations were impacted by their sliding revenues. However, in some companies, their incomes increased.It means economic situations change consumers' behaviors, and then consumers' behaviors result in different types companies having different financial statements.