Cinemas prosper as ticket sales soar: Britons ignore economic crisis to splurge on entertainment

Cinema bookings have skyrocketed in recent months thanks to box office hits such as Gladiator II, Wicked and Paddington In Peru.

Spending on the big screen was 23 percent higher than in the same period last year, according to data from financial group Barclaycard.

Despite rising energy bills and a bleak economic outlook following the budget, Britons were still willing to splurge on entertainment.

Karen Johnson, head of retail at Barclays, said: “People are finding ways to enjoy life’s little luxuries, and the festive season is no exception, with consumers cutting back to afford magical moments.”

Tim Richards, founder and boss of the Vue cinema chain, said Paddington In Peru had been a “huge success”.

He said Wicked “could be the biggest movie of 2024,” with early sales in line with Barbie’s last year.

But Brits cut back on takeaway spending, spending 1.1 percent less than last year.

Consumer confidence fell after Chancellor Rachel Reeves’ first Budget raised the likelihood that inflation and interest rates would remain higher in the coming months.

There was a 0.5 per cent drop in overall consumer card spending, Barclays said.