And can't you watch it more than once in the rental window?
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See for me it's the 2 hours without distraction and 11 months into quarantine I'd pay a LOT for that. Even at home when I set out to to imitate the movie going experience I find myself checking my phone or talking to my cats.
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Home viewing you trade the big screen and sound system for the ability to pause when you need to and re-watch if you like. I think certainly for a family of four $20 is more than worth it.
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I think growing up renting a movie for a few days cost half of a theatre ticket. Like a movie ticket was like $8 and a rental was $3-5, and I'm sure they weren't only 24-hour rentals like the streaming ones are. I assumed "you have to wait 6mo" was why rental cost less.
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(I'd also think of like $12 as being a normal movie ticket price these days. Maybe $15 if it's 3D.)
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Back when I rented movies I was lucky if I got that thing returned before 20 bucks in late fees racked up.
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