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