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CNN Live Saturday

Summer Entertainment Expenses Soar

Aired August 11, 2001 - 12:21   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
DONNA KELLEY, CNN ANCHOR: This summer you may be you saying entertainment begins at home.

CNN's Sherri Sylvester tells us the reason is money.

(BEGIN VIDEOTAPE)

SHERRI SYLVESTER, CNN CORRESPONDENT (voice-over): For many Americans, taking the kids for summer fun has been a budget buster. The cost of entertainment has never been higher. In major cities, a single movie ticket is $10, an amusement park admission $43, a Broadway show is $100 bucks and a Madonna concert tops out at $250.

Multiply that for family of four, and mom and dad may feel mugged before they get through the gate.

PAUL DERGARABEDIAN, EXHIBITOR RELATIONS: I really believe that this ticket price issue has to be addressed.

SYLVESTER: Exhibitors say moviegoers are paying for the feature, the $20 million star and a state of the art experience. Broadway's big hit, "The Producers" is sold out for months in advance. And many say the price right.

UNIDENTIFIED MALE: Well you figure the average crappy summer movie plus $10. And this costs $100. And with Nathan Lane, Matthew Broderick, and Mel Brooks, it's at least 10 times as good.

UNIDENTIFIED MALE: Look at these people. The whole place buzzing. Everybody feels very important right now. They know people walking by aren't going to see "The Producers" and we are. They think it is an elitist thing. It's like saying, "Oh, I went to the Madonna concert."

SYLVESTER: The haves snapped up Michael Jackson tickets in just five hours. At $2500 each, a family could paid $10,000 dollars for the best seats.

UNIDENTIFIED FEMALE: Read my lips, I love Michael.

UNIDENTIFIED FEMALE: I came from France just to get these tickets to see Michael Jackson because it's been a long time.

UNIDENTIFIED MALE: It's been like $2000, $3000 on these tickets, man.

UNIDENTIFIED FEMALE: I'd say I loved to, but I am not that rich.

SYLVESTER: Jackson is reportedly performing for 30 minutes. By one calculation, fans are paying $166 a minute to see him. Overall, concert attendance is down. Disney parks have seen a drop off. And few films are holding beyond their first week. But home video rentals are up. Movie for four, three bucks. Sheri Sylvester, CNN, Los Angeles.

(END VIDEOTAPE)

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