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Tweaking the Future: Increasing Box Office Revenues Through Twitter

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Can you use Twitter to increase box office revenues?

Can you use Twitter to increase box office revenues?

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    Tweaking the Future: Increasing Box Office Revenues Through Twitter Tweaking the Future: Increasing Box Office Revenues Through Twitter Presentation Transcript

    • Tweaking the Future With Social Media
    • This year, two researchers produced a paper…
    • … called “Predicting The Future With Social Media.
    • The paper sought to answer a question…
    • Can social media predict box office revenues?
    • To answer the question, they turned to Twitter.
    • Their sample was 3 million tweets for 24 movies.
    • They used two ratios to analyze the sample
    • The Tweet Rate Tweetrate (mov) = |Tweets (mov)| | Time (hours) |
    • Polarity Subjectivity = |Tweets with Positive Sentiment| |Tweets with Negative Sentiment|
    • For the tweet rate, two movies drive home the point.
    • Transylmania opened at over 1,000 sites on December 4th.
    • One week prior to release the movie had 2.75 tweets/hour.
    • This captured the record for the lowest grossing opening for a movie playing at over 1,000 sites. Opening weekend brought in $263,941.
    • New Moon opened that weekend too.
    • The movie averaged 1365 tweets an hour the week leading up to release
    • And made $142 million opening weekend. This illustrates why attention in social media is important
    • But, it made $100 million less the next weekend.
    • What happened?
    • Its polarity reduced, going from 6.29 to 5.
    • Meanwhile, another movie enjoyed an enormous increase in polarity that same weekend…
    • The Blind Side.
    • It’s polarity increased from 5.02 to 9.65 Which means A LOT of people tweeted positive things about the movie
    • And 2nd weekend revenues exceeded opening weekend. $34 < $40.1 million
    • The researchers conclusion?
    • Social media is an extremely powerful and accurate indicator of future movie success.
    • My question is…
    • If social media can be used to predict box office revenues..
    • … can studios influence social media to increase revenues?
    • I believe they can...
    • By employing a team of social media community managers.
    • Whose sole job responsibility is to talk about movies with the people talking about movies.
    • The outcome being that there are more conversations about the movie.
    • Which will increase the “tweet rate”
    • Which will increase revenue.
    • Email: [email_address] Phone: (602) 405-4390 Facebook: facebook.com/brettfarmiloe Twitter: @thatpassionguy Linkedin: linkedin.com/in/brettfarmiloe My passion: http://bit.ly/ptpbook