Will the presidential elections impact Hollywood?
If history is any guide, Democratic presidents are associated with larger box office sales growth. From 1980 to 2007, box office sales grew by 2.8%, on average, during Democratic administrations, while average sales growth under Republican administrations was just 1%, according to research released Monday by Nielsen PreView.
Overall, in the past three decades, movie sales have grown almost three times faster during Democratic administrations than during GOP administrations, according to Nielsen.
The entertainment industry may be facing tough times regardless of which party takes the White House in January.
According to a recent Nielsen study, 56% of consumers said they are likely to reduce their discretionary entertainment spending, as they seek ways to reduce expenses.
Spending on travel and clothing may also take a hit — 51% and 41% of consumers surveyed by Nielsen plan to cut spending on those respective items. In contrast, healthcare and housing spending were least likely to be reduced by consumers — just 9% of respondents said they will cut expenditures in those areas.
View Nielsen PreView’s full report.
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