The drastic change in how movie theater attendances are behaving is not only affecting the cinema industry but also reshaping the entertainment and technology landscape entirely – where there is decline in consumers’ behavior, there is growth in alternative replacement in the home theater sector. What does this mean for consumers?
Orlando, FL (April 20, 2015) – Today an average American chooses to watch movies in home theaters rather than going to a movie theater. What could be the reason for this change of choice? The simple reason for this shift in preference is the rise in ticket prices which have turned out to be unaffordable for the average person. Statistics show that just 1.26 billion tickets were sold in 2014 – which is the lowest number since 1995. Theater owners claim that this decline in movie attendance is largely due to the poor quality of the movies.
Movies are now not the only game in town. Smartphones, tablets, video games, television, internet and social networking sites capture a lot of time, attention and interest. The lure of digital devices is keeping people out of cinemas.
Yet the rapid penetration of in-home entertainment concept has led to the skyrocketing increase in the demand for home theaters in the United States, and thus decline in movie attendance.
The cost factor, absence of disruptive audience, ultimate selection choice and time-saving are some attractive factors that drive people to choose home theaters over traditional cinema halls. Home theaters provide consumers with the needed control, comfort and convenience.
Due to all the above mentioned reasons, the market for the home theaters in the U.S. has been growing. The rate of growth anticipated is 3.15% in this industry. 18% of consumers buy a home theater within 5 years of buying a TV. However, this number has not changed for the past 15 years.
One reason is the complexity in setting up the in-house entertainment or the thought of it being expensive reserved for the affluence. The initial setting up cost can be quite high and the process rather quite complex. But there are variety of options for a consumer and choice to be made based on one’s budget. Home theaters are becoming more affordable with more options to either go grandiose or keep things small and simple; there is something for everybody at many different price points personalized home TV installation service.
Thus, today home theaters are widely popular and this reflects in their increasing market trend.
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