Motion Picture Industry “Descriptive statistics lays the foundation for all statistical knowledge, but it is not something that you should learn simply so you can use it in the distant future, it will be used now” (Hill, n.d., para. 5). Gaining an understanding of the most basic form of statistics is crucial, some of the topics that we will focus on are the measures of location, range, quartiles, standard deviation, outliers, and correlation coefficient. Taking into consideration the movie industry and data collected for a sample of 100 motion pictures produced in 20XX the goal is to build a report that contains a 5-number summary for total gross, opening gross, weeks, and theatres for individual motion pictures and provide analysis of what the descriptive statistics tell us about the industry. Determine if there are any high performance outliers in any of the four categories, based on the findings describe what method was used and category that the outlier pertains to. Finally use the correlation coefficient to show the relationship between total gross sales and each of the other three variables and present an explanation of the relationship. Descriptive Statistics “Measures of location try to capture with a single number what is typical of the data, what single number is most representative of an entire list of numbers” (Stark, 2013, para. 2). In order to help understand the large amount of data presented in the motion picture industry a summary of each of the four categories will be presented, along with an explanation of what the data informs us about within the industry. The variable of total gross sales shows how much a particular movie earned in total. The 5-number summary and the central location that were calculated b... ... middle of paper ... ...ut it is not as strong as the linear relationship between theatres and total gross. Finally, the relationship between opening gross and total gross is a very strong linear relationship based on the diagram and the correlation coefficient of .92 as this is very close to a perfect linear relationship which occurs at 1. In the real world application this means if the opening gross of a movie is high the total gross of the movie will also be high. References Anderson, D.R., Sweeney, D.J., & Williams, T.A. (2012). Essentials of statistics for business and economics. (6th e.d. Revised). South-Western Cengage Learning Hill, J. (n.d.) Introduction to descriptive statistics. Retrieved from www.mste.illinois.edu/hill/ Dstat/dstat.html Stark, P.B. (2013). Measures of Location and Spread. Retreived from www.stat.berkeley.edu/~ stark/SticiGui/Text/location.htm
In Conclusion, the SWOT analysis shows that Redbox has many strengths to be profitable and has the potential for future growth in the industry. The DVD movie rental industry is still s...
Film-making is both an art and an industry. Many people were credited for the invention of motion picture. Some major names associated with motion picture include, Thomas Edison, Eadweard Muybridge, and the Lumiere brothers. There were several stages in the making of motion picture.
"(Top 100) Movie Franchises by Revenue." Statistic Brain. IMDb, 10 Dec. 2013. Web. 19 Dec. 2013. .
Describe some ways in which business values and artistic values in Hollywood contend with one another.
Movies today are extremely expensive to make and are typically financed through either film studio contracts or from investors willing to take a risk. In order to be successful, movies need to be marketed and distributed either under contract by the film studios or by companies that specialize in such services. The aspects of financing, marketing and distribution of films have changed between the studio and independent systems over the years as the evolution of the film industry took place.
Modernization in the 1980s paved the way for the Hong Kong New Wave, as the studio system set up in the 1950s was dismantled, the film industry experienced more freedom. Since decolonization was heavily present 75% of Hong Kong’s box office revenue were home grown movies, while the meager 15% was left for the foreign market. As one can see the political context of Ho...
Wiles, M. A., & Danielova, A. (2009). The worth of product placement in successful films: An event study analysis. Journal of Marketing, 73(four), 44-63.
When Blockbuster finally realized they needed to modernize operations and change with an ever developing industry they were unable to because of their enormous debt and negative cash flow. Senior management failed to see how advances in technology would lead to changes in how consumers rent and purchase movies. During Blockbuster’s prime they squandered their earnings on bonuses and lavish meetings. Their arrogance led them to feel invincible and that no one could ever catch them. Blockbuster management, in the end, failed to see the need to evolve to meet their customer’s needs while other companies rushed to fill this void.
Films were blossoming during the “Roaring twenties.” At the beginning of the decade, films were created mostly in Hollywood and West Coast, but as well as in Arizona and New Jersey. Most people do not know that the greatest output of films was between 1920 and 1930 and was 800 films per year. Nowadays, people consider big output of 500 films per year. The film business was a huge one because the capital investments were over $2 billion. At the end of the decade there were 20 studios in Hollywood and the interest in films was greater then ever.
Movie theaters are focusing on moving from film projection systems to digital and 3D systems. With these added technological changes, ticket prices typically rise creating revenue gains for the industry. These changes are drawing more consumers into the theaters because the in-theater experience is something that they cannot get from online streaming at
Measuring the success of a film can be an incredibly subjective endeavor. However, analyzing a film’s ROI, or return on investment, can provide insight on how profitable a movie is. Horror films are the most
There is a financial concept called the Parkinson’s Law which is, the film’s budget will
[2] Poggi, Jeanine. "Blockbuster's Rise and Fall: The Long, Rewinding Road." The Street. N.p., 23 Sept. 2010. Web. 11 Dec. 2013.
...rding to the US Economic Census, motion picture and video production in the United States as a whole generated revenues of $20.15 billion in 1997, with Hollywood alone being responsible for close to 60% of this total.” (US Census) Hollywood’s success has come with no great competition to push for more, and with the emergence of film globalization, it should be very interesting going forth seeing if they can maintain the ideal motion picture headquarters. Its unique pool of talent drawn from many different countries cultural impact of Hollywood films is now felt in all parts of the world.
The film industry has always been somewhat of a dichotomy. Grounded firmly in both the worlds of art and business the balance of artistic expression and commercialization has been an issue throughout the history of filmmaking. The distinction of these two differing goals and the fact that neither has truly won out over the other in the span of the industry's existence, demonstrates a lot of information about the nature of capitalism.