Wednesday, August 6, 2008

Why Libraries Can Be Your Best Entertainment Provider

I'm not sure what your public library system in your city is like, but the one in my hometown of Toronto, is excellent. Not only do they have an extensive branch system, but the selection and technology that is offered is comprehensive and surprisingly up-to-date (new release DVDs are available very quickly) . Catalogues are online, as are capabilities for reserving, renewing and researching. Some branches have recently added free Wi-Fi capabilities. Their 2008 operating budget is $170 million. Yet I know lots of family, friends and acquaintances living in Toronto that do not realize how much of these things are available to them, and therefore never make use of their local library.
I love to read and watch movies, both of which could be expensive propositions for me, given that I watch an average of 1 movie, read 1-2 books, and flip through 3-4 magazines per week. For movies, I will gladly pay the $12 to go to a cineplex if the movie is a big action blockbuster or Oscar contender. Other than that, I book my movies through the library system, sometimes as many as 30 at a time (their distribution I can manage online, so that I don't have to watch too many in any given week).

For books and magazines, I will get them at the library most of the time. I can't think of a book that I absolutely had to have right after it was released (I am not a fan of Harry Potter, obviously). Usually only the magazines that interest me and are time sensitive (e.g. Investing Guides at the beginning of each year) do I fork out the cash for it.

I estimate that if I were to rent all the movies, or buy all the books and magazines that I get from the public library, I would have to spend almost $2,500 per year.
Here's some interesting observations that I have made regarding the entertainment industry, based on my own experience, and not sure if you would agree or not.

The movie business is such that they rely not only on the tickets sales at the box office, but increasingly become dependent of the DVD sales. So they promote the hell out of DVD releases and people buy them in the millions. As someone who used to buy all sorts of videos and DVDs, only to see them gather dust because I didn't have time to watch them, or only watched them once, I now realize that collecting movies is a bit of a money waster. (This from someone who also still has a lot of movies on VHS format). With changing technology, does it make sense to still collect movies?

With books, I do buy used copies of my favourite books, although I have yet to read once for the second time. Instead, I loan them to friends who often ask for a recommendation for a good read. The people who really get fleeced when buying books are those impatient readers and fans who purchase them as soon as they are released. Why? Because publishers will always release the hardcover version first, at a much higher price than the released-later paperback version.

One magazine that I read, but will not buy, is Men's Health. Why? Because if you compare covers of the past editions, it always follows the same format and they seemingly recycle tips and hints. Obviously, this is a non-scientific statement, but when I put past editions of Men's Health side-by-side at the library, I can barely tell them apart from their covers. I'm sure that would seem to be the same for similar lifestyle magazines such as Cosmopolitan.

I know some people who lives in smaller cities and complain about their local libraries, and I sympathize with them. Large urban centres benefit from economies of scale and large number of taxpayers that help fund local libraries. So while not everyone can or will save $2,500 by using the library, I certainly make the most of my tax dollars at work.

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