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Does Twitter chatter matter? Online reviews and box office revenues

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  • Sunčica Vujić
  • Xiaoyu Zhang

Abstract

With a rapid rise of text-based social media and online Word-of-Mouth (WOM) activity, millions of people express their thoughts and opinions on a variety of topics. Considering that nowadays WOM is a most influential source of information when guiding consumers’ choice and purchase decisions, in this paper we look at the relationship between Twitter messages (tweets) and cinema box office revenues. Using static and dynamic panel data regression approaches, we show that the frequency, sentiment and timing of tweets posted about a film are correlated to different extent with the movie’s box office revenues, with negative tweets being particularly damaging to the box office revenues. From a managerial perspective, this is important to know, such that film production companies and distributors can adjust their strategy accordingly.

Suggested Citation

  • Sunčica Vujić & Xiaoyu Zhang, 2018. "Does Twitter chatter matter? Online reviews and box office revenues," Applied Economics, Taylor & Francis Journals, vol. 50(34-35), pages 3702-3717, July.
    • Handle: RePEc:taf:applec:v:50:y:2018:i:34-35:p:3702-3717
    DOI: 10.1080/00036846.2018.1436148
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    Cited by:

    1. Steven F. Lehrer & Tian Xie, 2022. "The Bigger Picture: Combining Econometrics with Analytics Improves Forecasts of Movie Success," Management Science, INFORMS, vol. 68(1), pages 189-210, January.
    2. Tumasjan, Andranik & Braun, Reiner & Stolz, Barbara, 2021. "Twitter sentiment as a weak signal in venture capital financing," Journal of Business Venturing, Elsevier, vol. 36(2).
    3. Jordi McKenzie, 2023. "The economics of movies (revisited): A survey of recent literature," Journal of Economic Surveys, Wiley Blackwell, vol. 37(2), pages 480-525, April.
    4. An, Yongdae & An, Jinwon & Cho, Sungzoon, 2021. "Artificial intelligence-based predictions of movie audiences on opening Saturday," International Journal of Forecasting, Elsevier, vol. 37(1), pages 274-288.

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