Even with the volume of movies produced, only a handful finds success in the box office. With advancements in technology, Hollywood can now examine a movie’s potential for success before it hits the big screen, using analytics from companies such as StoryFit.
Advantage of Informative Sites in the Search
An uncommon but viable way of using analytics to predict movie success is to track the activity of a Wikipedia page for the film. According to Dataconomy.com, it can be treated as a data source for the research because of its reputation as the top online source of information. Searches for a movie via the Wikipedia page shows the number of users who are interested in learning more about the film.
At the same time, the number of edits the page gets shows continuing interest, which improves as the information, trailers, and interviews related to the movie are released.
Harness the Power of Social Media
The strength of social media and its reach and engagement make up a sizable portion of using analytics to predict movie success. Some online tools can be used to measure the social chatter being aired online by different users, Sydney Morning Herald reported.
This is helpful for movies that rely on and maximize digital marketing in their efforts to spread the word about a film. In most cases, a lot of the movies nowadays see their trailers hitting online sites before being aired in previews in cinemas, so it’s safe to say that the online venue has a massive reach.
Consideration of Both Numbers and Immeasurable Factors
All online activities considered, analytics will also have to consider the different factors related to the screen — both the measured assets and the quantitative aspects of performance. Harvard Business Review reported that this can include anything from the movie genre to the marketing expenditures allotted to the film.
Marketing and movies have come a long way when it comes to bringing films to viewers. While analytics is a great way to assess whether a movie will hit its mark or exceed it as a blockbuster, the most important factor is still a solid vision and execution of the movie.