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The Determinants of Motion Picture Box Office Performance: Evidence from Movies Produced in Italy

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Author Info

  • M. Bagella
  • L. Becchetti

Abstract

The paper provides an empirical analysis of box office performance for movies produced in Italy between 1985 and 1996. Descriptive evidence documents a decrease in the total number of films produced and a sharp reduction in daily revenues and per screen daily admissions during the sample period. In the econometric analysis various alternative hypotheses on the impact of the ex ante popularity of directors and cast of actors on box office performances are rejected in favour of a quadratic specification with positive externalities between the two factors. The econometric cross-sectional evidence also documents that the net impact of subsidies on total admissions is irrelevant and that the significantly lower performance of subsidised films depends on the lower ex ante popularity of their cast and directors. Results on the impact of specialisation genres and production houses show that very few of them (i.e., the comic specialisation genre and the Filmauro production house) have a significant marginal impact on box office performances after controlling director and actors effects. Copyright Kluwer Academic Publishers 1999

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File URL: http://hdl.handle.net/10.1023/A:1007579421768
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Bibliographic Info

Article provided by Springer in its journal Journal of Cultural Economics.

Volume (Year): 23 (1999)
Issue (Month): 4 (November)
Pages: 237-256

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Handle: RePEc:kap:jculte:v:23:y:1999:i:4:p:237-256

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Web page: http://www.springerlink.com/link.asp?id=100284

Related research

Keywords: box office performance; superstar effect; movie economics;

References

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  1. Chung, Kee H & Cox, Raymond A K, 1994. "A Stochastic Model of Superstardom: An Application of the Yule Distribution," The Review of Economics and Statistics, MIT Press, vol. 76(4), pages 771-75, November.
  2. William Gould, 1993. "Quantile regression with bootstrapped standard errors," Stata Technical Bulletin, StataCorp LP, vol. 2(9).
  3. Dexter, Albert S & Levi, Maurice D & Nault, Barrie R, 1993. "Freely Determined versus Regulated Prices: Implications for the Measured Link between Money and Inflation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 25(2), pages 222-30, May.
  4. Hamlen, William A, Jr, 1991. "Superstardom in Popular Music: Empirical Evidence," The Review of Economics and Statistics, MIT Press, vol. 73(4), pages 729-33, November.
  5. Hamlen, William A, Jr, 1994. "Variety and Superstardom in Popular Music," Economic Inquiry, Western Economic Association International, vol. 32(3), pages 395-406, July.
  6. Koenker, Roger & Bassett, Gilbert, Jr, 1982. "Robust Tests for Heteroscedasticity Based on Regression Quantiles," Econometrica, Econometric Society, vol. 50(1), pages 43-61, January.
  7. Newey, Whitney K & West, Kenneth D, 1994. "Automatic Lag Selection in Covariance Matrix Estimation," Review of Economic Studies, Wiley Blackwell, vol. 61(4), pages 631-53, October.
  8. Adam Finn & Colin Hoskins & Stuart McFadyen, 1996. "Telefilm Canada Investment in Feature Films: Empirical Foundations for Public Policy," Canadian Public Policy, University of Toronto Press, vol. 22(2), pages 151-161, June.
  9. Davidson, Russell & MacKinnon, James G., 1993. "Estimation and Inference in Econometrics," OUP Catalogue, Oxford University Press, number 9780195060119.
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Citations

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Cited by:
  1. Victor Fernandez-Blanco & Luis Orea & Juan Prieto-Rodriguez, 2013. "Endogeneity and measurement errors when estimating demand functions with average prices: an example from the movie market," Empirical Economics, Springer, vol. 44(3), pages 1477-1496, June.
  2. James Jozefowicz & Jason Kelley & Stephanie Brewer, 2008. "New Release: An Empirical Analysis of VHS/DVD Rental Success," Atlantic Economic Journal, International Atlantic Economic Society, vol. 36(2), pages 139-151, June.
  3. Cuccia, Tiziana, 2009. "A Contingent Ranking Study on the Preferences of Tourists across Seasons/A Contingent Ranking Study on the Preferences of Tourists across Seasons," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 27, pages 161-176, Abril.
  4. Caroline Elliott & Rob Simmons, 2008. "Determinants of UK Box Office Success: The Impact of Quality Signals," Review of Industrial Organization, Springer, vol. 33(2), pages 93-111, September.
  5. Dewenter, Ralf & Westermann, Michael, 2003. "Cinema demand in Germany," IBES Diskussionsbeiträge 125, University of Duisburg-Essen, Faculty for Economics and Business Administration.
  6. Jordi McKenzie & W. Walls, 2013. "Australian films at the Australian box office: performance, distribution, and subsidies," Journal of Cultural Economics, Springer, vol. 37(2), pages 247-269, May.
  7. Brinja Meiseberg & Thomas Ehrmann, 2013. "Diversity in teams and the success of cultural products," Journal of Cultural Economics, Springer, vol. 37(1), pages 61-86, February.
  8. Alexis Dantec & Florence Levy, 2005. "Stars et box office : un état des approches théoriques et empiriques," Documents de Travail de l'OFCE 2005-13, Observatoire Francais des Conjonctures Economiques (OFCE).
  9. Randy Nelson & Robert Glotfelty, 2012. "Movie stars and box office revenues: an empirical analysis," Journal of Cultural Economics, Springer, vol. 36(2), pages 141-166, May.
  10. A. E. Scorcu & R. Zanola, 2011. "Survival in the Cultural Market: The Case of Temporary Exhibitions," Working Paper Series 36_11, The Rimini Centre for Economic Analysis.
  11. Gerda Gemser & Martine Oostrum & Mark Leenders, 2007. "The impact of film reviews on the box office performance of art house versus mainstream motion pictures," Journal of Cultural Economics, Springer, vol. 31(1), pages 43-63, March.
  12. Gazley, Aaron & Clark, Gemma & Sinha, Ashish, 2011. "Understanding preferences for motion pictures," Journal of Business Research, Elsevier, vol. 64(8), pages 854-861, August.
  13. Ana Suárez-Vázquez, 2011. "Critic power or star power? The influence of hallmarks of quality of motion pictures: an experimental approach," Journal of Cultural Economics, Springer, vol. 35(2), pages 119-135, May.
  14. Allègre Hadida, 2010. "Commercial success and artistic recognition of motion picture projects," Journal of Cultural Economics, Springer, vol. 34(1), pages 45-80, February.
  15. Christian Jansen, 2005. "The Performance of German Motion Pictures, Profits and Subsidies: Some Empirical Evidence," Journal of Cultural Economics, Springer, vol. 29(3), pages 191-212, August.
  16. Christian Jansen, 2003. "The Performance of German Motion Pictures, Profits, and," Industrial Organization 0302002, EconWPA.

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