Startups see Big Data as Key to Revitalizing Box Office Sales

Startups see Big Data as Key to Revitalizing Box Office Sales

Startups see Big Data as Key to Revitalizing Box Office Sales

Modern movie making technology is giving us more spectacular cinema experiences than ever before, but despite this, Hollywood is finding that younger audiences just aren’t going to the movies as often as their parents.

Not all movies can be a part of a huge franchise that creates its media buzz simply by using its name (we’re looking at you, Star Wars). To get more traction with new intellectual properties and standalone stories, and even to refresh old series, executives are starting to turn to data analysis to more accurately target the right audience for their film.

The move is not typical of the movie industry, where decisions are based on instinct and experience, which creates an atmosphere of uncertainty among investors who spend millions before finding out if they have gold or lead.

Studios need more predictable returns on their investments, and big data analysis can help them achieve that goal even if they have to turn to a technology that some may not want.

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Hooked is one of the many startups being employed by the film industry, and it intends to use data to discover the next big story.

The company has aspirations of making the next Matrix or Harry Potter, and to that end, they have made bold pitches to Hollywood that have been picked up by companies like Warner Bros. and the talent agency WME.

To gather data, Hooked gives readers a piece of a story within a few text messages, forcing them to click a button if they want to get the next piece.

The process gathers data in a deceptively simple way; it becomes apparent that a story has stopped being interesting when a reader stops clicking the ‘next’ button.



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