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Cash Strapped Consumers Lead To Boom

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If you think this awful economy is awful for everyone, think again! Cash strapped consumers provided a boom for at least one industry.

We’re talking Hollywood! Attendance at theaters this year has jumped 14 percent, according to Hollywood.com Box Office and studios have penny-pinching consumers to thank.

”Much like the 'dollar stores' in retail, the movie theaters are picking up a certain amount of discretionary entertainment spending, says Chris White, an analyst with Wedbush Morgan Securities.

And the trend shows no signs of stopping. ”We expect consumers will continue to view cinema as one of the most convenient and affordable forms of entertainment,” Cinemark Chief Executive Alan Stock says.

Considering the string of big ticket movies about to be released, who wouldn’t want to spend an afternoon in the dark with a big bucket of popcorn. There’s the latest “Harry Potter,” as well as another “Terminator” -- the buzz-worthy family film, “Up” and many, many others.

Just take a look at the estimated gross of the summer's biggest blockbusters.

BOX OFFICE PREDICTIONS
FROM HOLLYWOOD STOCK EXCHANGE

Movie Company Est. Gross

Transformers: Viacom $293M
Harry Potter And... Time Warner $241M
Terminator Time Warner $181M
Up Disney $173M

With the summer movie season about to get underway, is the box office your ticket to profits?

According to Tim Seymour, Pete Najarian and Joe Terranova, in the media space look at Disney. Not only do they have a strong slate of films coming but they have a strong franchise in ESPN, and they say the P/E is priced right.

Steve Grasso recommends Viacom because Transformers should pull in people from 14-40. That's impressive.


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Trader disclosure: On May 22nd, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (BBT), (EEM), (FLR), (TTM), (INFY); Seymour is Short (FCX); Terranova Owns (ABI), (JOYG), (XBI), (TER); Terranova Owns (DIS) Call Spreads; Terranova Owns Oil Futures; Terranova Owns Nat Gas Futures; Terranova Owns (DIS) Calls; Terranova Owns June Gold Futures; Grasso Owns (AMZN), (RIMM), (V); Grasso's Clients Own (AMZN), (PG), (X), (MA), (VA), (ALL), (AMP), (JPM), (WFC), (SUN), (PBR), (POT), (MOS), (MSFT), (IBM), (XLE); Najarian Owns (ISIS), (BCSI); Najarian Owns (APC) Call Spread; Najarian Owns (AMD) Calls; Najarian Owns (BX) Calls; Najarian Owns (INTC) Calls; Najarian Owns (PALM) Call Spread; Najarian Owns (MOS) Call Spread; Najarian Owns (XHB) Call Spread; Najarian Owns (XLB) Call Spread; Najarian Owns (XLU) Call Spread

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