Box Office Analysis: Seeing Movie Business Through Data

Source: www.imperialtheatre.com Though we usually strive to focus on specific areas or a niche zone for in depth analysis, this time wanted to direct your attention towards a bigger picture. We believe that talking about this particular topic would help you to understand many of our future analysis, and also gives us a way to introduce you to the idea that on-the-surface stats are rarely descriptive enough to understand the situations. Today, we are going to show you a little bit of how movies have been doing over the years since records have been kept, or rather, records that IMDB has. For our analysis, we have used the list of movies in IMDB’s records till the end of 2016. Though the original dataset has 5043 movies, we had to remove duplicate entries, and even remove movies that had insufficient information and would not contribute well to our analysis. Even though there are many different categorizing levels for genres, we decided to use only a handful of primary level g...

The film industry uses box office revenue, or, the amount of money generated through movie ticket sales, to measure the commercial success of the films it produces. The global film industry shows healthy projections for the coming years, as the global box office revenue is forecast to increase from about 38 billion U.S. dollars in 2016 to nearly 50 billion U.S. dollars in 2020. Figure: Box office revenue in America from 2000 to 2019 (in billion U.S. dollars) Data Source:  Domestic Movie Theatrical Market Summary     However, the statistic above presents data on the annual box office gross revenue for the last 20 years in the US. In 2018, 11.96 billion U.S. dollars was earned at the box office which is a growth of over 2.2 million over the past decade. In 2019, the country has made 11.18 billion U.S. dollars so far. Ticket sales account for a sizable portion of the film industry’s total revenues. Over 1.3 billion tickets were sold at the American box offic...