From watching Netflix movies on your laptop or sitting in a theatre to watch the newest release, without knowing it, data is shaping what we're watching. Data is becoming the defining factor of why we choose to watch certain films. Who knew?!
Data Can Help A Film Find Its Audience
The globalization of box office and public reaction has empowered the traditional studios, making it possible for early reactions on the other side of the world to determine the strategies that will be implemented only hours later, with releases, ads, and word of mouth controlled in different countries right down to the last second. For example: 2016: Obama's America. With the help of data, the creators were able to figure out the best time to release it and how long it was to be in theaters.Data and Social Media
Analyzing feedback on social media, responses and figuring out what's generating buzz has been a large tactic when gathering data. For example: the amount of likes on Facebook can predict a screening's chance of selling out. Ever heard of IMDB? IMDB is an online database of information related to films and television programs (amongst other related things). IMDB is a goldmine for gathering data. Movie companies are mining valuable information about consumers’ tastes and preferences on movie viewing, their favorite actors and actresses, and the marketing trends of the industry in general. The constant stream of data from say, Twitter or Facebook and other social channels make it possible to collect and analyze data on the film industry and film industry consumers.
The Beautiful Friendship Between Analytics and Movie-Making
Analytics allow studios to go beyond simple focus groups or established financial modeling to determine how audiences might respond to a given film. It’s all about identifying patterns in past data, melding them with current data points that are readily available, and then taking action to improve business performance. For a studio looking to reboot a franchise or remake a film that had potential but wasn’t executed well, this would be highly recommended to help determine precisely how best to remake a film and what return you could expect to gain. Additionally, you could scrape data from social media commentary and reviews of previous films to compare actors, themes, genres, special effects, and current events. Crazy, huh?
So, next time you find yourself cozied up on the couch watching a movie, think about the data that went into the movie (the audience, the release date, the cast). Data really plays a part in (almost) everything.
By: Grace Bradford
Sources:
https://www.indiewire.com/2013/04/why-big-data-is-defining-the-film-industry-5-things-we-learned-from-tribeca-talks-big-data-and-the-movies-panel-39139/
https://www.experfy.com/blog/big-data-goes-movies
https://hbr.org/2012/10/using-analytics-to-predict-hollywood-blockbusters
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