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 ...
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: link...
Upcoming SlideShare
Loading in …5
×

Tweaking the Future: Increasing Box Office Revenues Through Twitter

1,651 views

Published on

Can you use Twitter to increase box office revenues?

0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,651
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
0
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Tweaking the Future: Increasing Box Office Revenues Through Twitter

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

×