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Determinants of UK box office success: the impact of quality signals

  • C F Elliott
  • R Simmons
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    This paper analyses the roles of various potential quality signals in the demand for cinema in the United Kingdom using a breakdown of advertising totals by media category. Estimation of a two stage least squares model with data for 546 films released in the United Kingdom shows that the impacts of types of advertising on box office revenues vary both in channels and magnitudes of impact. We also offer a more sophisticated treatment of critical reviews than hitherto by examining the spread (entropy) rather than just the mean rating.

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    File URL: http://www.lancaster.ac.uk/media/lancaster-university/content-assets/documents/lums/economics/working-papers/UKBoxOffice.pdf
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    Paper provided by Lancaster University Management School, Economics Department in its series Working Papers with number 584026.

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    Date of creation: 2007
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    Handle: RePEc:lan:wpaper:584026
    Contact details of provider: Postal: LANCASTER LA1 4YX
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    Web page: http://www.lancaster.ac.uk/lums
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    1. Ravid, S Abraham, 1999. "Information, Blockbusters, and Stars: A Study of the Film Industry," The Journal of Business, University of Chicago Press, vol. 72(4), pages 463-92, October.
    2. W. D. Walls, 2005. "Modeling heavy tails and skewness in film returns," Working Papers 2014-48, Department of Economics, University of Calgary, revised 23 Sep 2014.
    3. James G. MacKinnon, 2002. "Bootstrap inference in econometrics," Canadian Journal of Economics, Canadian Economics Association, vol. 35(4), pages 615-645, November.
    4. Nelson, Phillip, 1970. "Information and Consumer Behavior," Journal of Political Economy, University of Chicago Press, vol. 78(2), pages 311-29, March-Apr.
    5. Collins, A. & Hand, C. & Snell, M.C., 2001. "What Makes a Blockbuster? Economic Analysis of Film Success in the United Kingdom," Papers 137, Portsmouth University - Department of Economics.
    6. De Vany, A. & Walls, W.D., 1999. ""Uncertainty in the Movies: Does Star Power Reduce the Terror of the Box Office?"," Papers 98-99-10, California Irvine - School of Social Sciences.
    7. Arthur De Vany & W. David Walls, 2002. "Does Hollywood Make Too Many R-Rated Movies? Risk, Stochastic Dominance, and the Illusion of Expectation," The Journal of Business, University of Chicago Press, vol. 75(3), pages 425-452, July.
    8. Nelson, Randy A, et al, 2001. "What's an Oscar Worth?," Economic Inquiry, Western Economic Association International, vol. 39(1), pages 1-16, January.
    9. Mohanbir S. Sawhney & Jehoshua Eliashberg, 1996. "A Parsimonious Model for Forecasting Gross Box-Office Revenues of Motion Pictures," Marketing Science, INFORMS, vol. 15(2), pages 113-131.
    10. Kihlstrom, Richard E & Riordan, Michael H, 1984. "Advertising as a Signal," Journal of Political Economy, University of Chicago Press, vol. 92(3), pages 427-50, June.
    11. Nelson, Philip, 1974. "Advertising as Information," Journal of Political Economy, University of Chicago Press, vol. 82(4), pages 729-54, July/Aug..
    12. Forrest, David & Simmons, Robert, 2000. "Forecasting sport: the behaviour and performance of football tipsters," International Journal of Forecasting, Elsevier, vol. 16(3), pages 317-331.
    13. Paul R. Milgrom & John Roberts, 1984. "Price and Advertising Signals of Product Quality," Cowles Foundation Discussion Papers 709, Cowles Foundation for Research in Economics, Yale University.
    14. Anita Elberse & Jehoshua Eliashberg, 2003. "Demand and Supply Dynamics for Sequentially Released Products in International Markets: The Case of Motion Pictures," Marketing Science, INFORMS, vol. 22(3), pages 329-354.
    15. David A. Reinstein & Christopher M. Snyder, 2005. "THE INFLUENCE OF EXPERT REVIEWS ON CONSUMER DEMAND FOR EXPERIENCE GOODS: A CASE STUDY OF MOVIE CRITICS -super-* ," Journal of Industrial Economics, Wiley Blackwell, vol. 53(1), pages 27-51, 03.
    16. Schmalensee, Richard, 1978. "A Model of Advertising and Product Quality," Journal of Political Economy, University of Chicago Press, vol. 86(3), pages 485-503, June.
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