Sunday, November 18, 2012

A Surprising Conclusion about Why We Spend Money on Entertainment?


EB’s post this week Confessions of A Kindle Addict regarding her experiences with buying and reading books on her new Kindle got me wondering about what we are willing to pay for entertainment and why.

I admit up front that I have more questions than answers; I’m looking for our readers’ help.

Depending on how fast you read a book, it probably provides three to six hours of entertainment. I’ll use the lower bound to be conservative. Depending on the price of the book, this averages to between $0.00 (for free downloads) to $5.00/hr. for current best sellers sold electronically (and only slightly more for the hardcover version). Once you own the reading device, there are no outside costs to downloading an e-book other than keeping your reader charged.

The closest professional football team to my southern home is the Jacksonville Jaguars. You can get a ticket for the cheap seats for $55. Ignoring the extra costs of getting to the stadium and parking, this translates into about $18/hr. (one hour clock time, but three hours duration from kickoff to final tick of the game clock). Of course you can pay almost five times more for the best seats. This is for a team with a 1-8 record.

But since they’re our local team, we can watch the game at home for free. That means it’s not watching the football game per se that we are willing to pay for. The $55 must be for something else. Perhaps it reflects the value of being part of a crowd. In fact, I seem to recall Sister Sledge’s “We are family” rocking more than one basketball arena.

If not buying the feeling of extended family, maybe it’s purchasing bragging rights: “I remember when I was…” As evidence for this theory, look at prices people pay for attending the Super Bowl or NCAA men’s basketball finals. Clearly what people are willing to shell out has little to do with entertainment value and much to do with something else. I suspect it’s bragging rights.

Which brings me back to books. When we buy a book from the author at a book signing, we pay full price. Is it the signature we’re paying extra for, or the bragging rights?

And did millions of people read The Da Vinci Code because it was a good bang for their entertainment dollar or because it was “THE” book of the moment to read and so added to their personal esteem in some manner?

I’m writing myself to the conclusion that much of what we spend on “entertainment” has little to do with the actual entertainment value and more to do with our feelings. Have I convinced you, or am I way off track?

~ Jim