Hollywood today, run more like an investment business, will do well to gain valuable insights from the deluge of data available, for at the very least the numbers could help reduce risk, cost, refine their marketing strategy and maximise the impact of a movie at the box-office.
I chose to make an infographic, forecasting all the 'relevant' numbers for one big Hollywood blockbuster. And what better than to forecast the numbers for the latest movie from arguably the most influential director of our times: Christopher Nolan's Interstellar.
The top 20 grossing movies of the past 25 years were analysed, the Correlation and Forecasting function in MS Excel being pretty useful in weeding out insignificant variables & showing up the variables with the most predictive power. Dropping statistically non-significant variables, a regression model involving theatre count, Google search volumes, Facebook likes, franchise status & production budget accounted for 94% (having R2 = 0.94) of the variability in the box-office gross of a movie. But rather than looking to predict a movie's numbers, Hollywood executives who greenlight movies and movie marketers may actually be better off analysing the interesting trends that emerged.
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