Henadic Theologian
Legend
My theory?
It's a lot more socially acceptable today to just say "no thanks, I feel like staying home" than it was just 3-4 years ago. For example, people aren't dining out as often as they once did. Though the numbers are consistently increasing, people in my country are still only dining out about 75% as much as they were before the Covid-19 pandemic.
They aren't attending as many concerts as they did before, either; concert attendance is about 50% what it was before the pandemic. Other entertainment destinations are still pretty low as well: museum attendance is about 40% pre-Covid, theaters 60%, amusement parks 50%, and so on. The pandemic taught us how to spend our entertainment money on things we can enjoy at home.
So yes, the economy is bad. But it's also different. And some parts of the economy are doing quite well, all things considered (streaming services, video games, video conferencing...). The pandemic not only taught people how to entertain themselves by staying home, it normalized it.
(I'm not an economist, though. Perhaps one could weigh in?)
Streaming stopped doing well this year, I think Netflix was one of the few streaming services to actually be profitable and even it lost a lot of subscribers this year, it's stock lost a lot of value and mass lay off and show cancellations happened. Even there Ad supported tier has been a disaster, they had to refund money to advertisers because they could only meet 80% of thr viewship targets they promised.
And a lot of LGSs are in pain, so I don't know whose actually buying all this stuff.