All this dire economic news could be good for Hollywood. Box office grosses for the weekend are projected to range between $130 million and $140 million, up from $102 million last year, estimates Stifel Nicolaus analyst Drew Crum.
The reason? No doubt the release of “High School Musical 3: Senior Year” might have something to do with it. (We can’t wait.)
Another possible explanation: When the economy hits the skids, people watch more movies. In five of the last seven recessions since 1965, box office grosses increased, according to the National Association of Theater Owners.