Difficult Scenario for the Film Business

The economic slowdown, together with the growing supply of audiovisual content platforms, explains part of the downward trend that shows the business in Costa Rica since 2016.

Tuesday, May 21, 2019

Businessmen in the sector believe that another factor affecting the decline in business is that they depend on the production of high quality movies or blockbusting, usually produced by U.S. firms.

Gustavo Sáenz, general manager of Nova Cinemas, explained to Elfinancierocr.com that "... in general, the market suffers from a significant contraction since 2016 because of different circumstances, among which the deterioration of the families' budget stands out."

Luis Carcheri, general manager of Distribuidora Romaly and Cine Magaly, said that "... The public is being more selective and I think it has to do with the high unemployment rate (...). In addition, there is a concern about the country's economic issues that makes the consumer more conservative."

Sales behaviors per company are varied, and in the case of Cinemark reports that last year its revenues fell by about 9%, which is partly attributed to the child or family product produced.

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