The #filmindustry is more popular than ever now. And we will see how math is vital to the film industry today, in our story #35.
Which films are successful at the box office?
How important are the cast and crew?
Or how much should be the budget?
What is the ‘wow’ factor?
For some films, it's "awesome!" but for others, it’s “meh”.
As the need for fresh, original content rises, owing in part to the rise of streaming services such as Netflix, Hotstar, Amazon Prime, Disney+, Apple TV, and others that produce original movies and television shows, so does the need for thorough analytics about what makes a movie (or in extension content) successful.
Box office Analytics is emerging as a field of its own, much similar to analytics that is used in sports.
With the ever-increasing demand for new movies and the huge range of genres available, analytics on movie performance can provide important information to studios, allowing them to make the most strategic production and financial decisions possible.
#Boxofficeanalytics in movies, as in any other industry is about finding useful patterns in the data that are not visible to the naked eye and can be exploited for gain.
Math models and algorithms have been chalked out by various math-movie buffs. These models take into account the innovation and/or creativity in the movie, advertising, and social media outreach of the movie and the lead actors of the film.
Startups like #BoxOfficePrediction have been pioneering the box office analytics field.
Will it be a great way to help determine which movies should be produced? Or is the idea of using a model to predict which movies are made scary and can curtail experimentation?
Well, only time can tell.
Sources:
<1> Movies, math and money: Waterloo grad predicts box office revenues by Anna Beard, Faculty of Mathematics, University of Waterloo.
<2> What Makes a Movie Successful : Using Analytics to Study Box Office Hits by Sarah E. Joseph, University of Tennessee, Knoxville.
<3> Box Office Revenue Analysis and Visualization
#boxoffice #analytics #movies #math #mathstories #story35
Which films are successful at the box office?
How important are the cast and crew?
Or how much should be the budget?
What is the ‘wow’ factor?
For some films, it's "awesome!" but for others, it’s “meh”.
As the need for fresh, original content rises, owing in part to the rise of streaming services such as Netflix, Hotstar, Amazon Prime, Disney+, Apple TV, and others that produce original movies and television shows, so does the need for thorough analytics about what makes a movie (or in extension content) successful.
Box office Analytics is emerging as a field of its own, much similar to analytics that is used in sports.
With the ever-increasing demand for new movies and the huge range of genres available, analytics on movie performance can provide important information to studios, allowing them to make the most strategic production and financial decisions possible.
#Boxofficeanalytics in movies, as in any other industry is about finding useful patterns in the data that are not visible to the naked eye and can be exploited for gain.
Math models and algorithms have been chalked out by various math-movie buffs. These models take into account the innovation and/or creativity in the movie, advertising, and social media outreach of the movie and the lead actors of the film.
Startups like #BoxOfficePrediction have been pioneering the box office analytics field.
Will it be a great way to help determine which movies should be produced? Or is the idea of using a model to predict which movies are made scary and can curtail experimentation?
Well, only time can tell.
Sources:
<1> Movies, math and money: Waterloo grad predicts box office revenues by Anna Beard, Faculty of Mathematics, University of Waterloo.
<2> What Makes a Movie Successful : Using Analytics to Study Box Office Hits by Sarah E. Joseph, University of Tennessee, Knoxville.
<3> Box Office Revenue Analysis and Visualization
#boxoffice #analytics #movies #math #mathstories #story35