Like it or not, the world is changing.
Advances in technology have always led to change. Whether it was the invention of the wheel, the invention of the electric generator, or the advent of the internet, technology creates rapid changes in the world around us.
One industry where technology has always had a big influence is movies.
From the birth of cinema back in the late 1800s to the present day, technology has been at the very heart of the industry.
Everything from color film to CGI has helped cinema keep audiences on the edge of their seats, something which has helped the movie business become a multi-billion dollar a year industry.
The latest technology that is set to revolutionize moviemaking is big data analytics. This exciting new technology will empower movie companies to make exactly the kinds of films that their audiences want.
Largo Films: Leading the Way into the Future
Largo Films is one of the companies that is at the forefront of data-driven moviemaking.
The company has developed industry-leading data analytics software that has proven time and time again just how accurate it can be.
But how accurate is accurate I hear you say? Well, let’s take a look at their recent pilot project to find out.
- How Big Data Can Help Make Your Movie A Hit
- Pros and Cons of Using Big Data in Movie Making
- Largo Films Enters Data-Driven Moviemaking
Domani e Un Altro Giorno
Domani e Un Altro Giorno is an Italian feature film that was directed by Simone Spada.
Starring Elena Lietti, Marco Giallini, and Valerio Mastandrea, the film tells the tale of two lifelong friends who over four days, find their friendship tested to its limits.
Largo Films was asked to undertake a data-driven script analysis using their sophisticated new analytics software. This software is able to analyze any script and accurately identify its strengths and weaknesses. Additionally, this software is able to accurately predict how much the film will gross upon its release.
Largo Film’s Prediction
“Our script analysis on the Domani e Un Altro Giorno script predicted an Italian Box Office results between € 1.6M and € 4M€ while the range of possible revenues in Italian box office over the last 10 years was from € 10kto € 51M with an average of €3.2M”. – Source: Largo Films
The company’s estimates were to prove accurate despite an unpredicted slowdown in the Italian movie market in the first quarter of 2019 when the film was released. This slowdown represented an 18% decrease in ticket sales versus the same period the year before.
Because of this slowdown, Domani e Un Altro Giorno box office gross was at “the lower bound of Largo Film’s predictions”. The accuracy of these predictions is deeply impressive since there was no indication of an oncoming slump in the Italian movie market at any time during 2018.
Such an accurate prediction validates Largo Film’s claim to be at the cutting edge of big data analytics in moviemaking.
Data-Driven Moviemaking: Getting the Recipe Right for Success
Another part of the service that Largo Films offers is the chance for filmmakers to identify the strengths and weaknesses of their films during the production phase.
Largo Films is able to help filmmakers alter everything from the movie script to the cast to make the finished movie more appealing to its potential audience.
During the production phase, Largo films were able to make recommendations for a range of changes. Its sophisticated AI software identified one part of the film that, if changed, would boost revenue by an impressive 14%.
Unfortunately, due to time constraints, the filmmakers opted to stick with the original format. Post-release analysis of the movie’s box office performance found that had the production crew enacted the suggested alterations, that the movie would have achieved better box office returns.
- Target Marketing Your Movie
- How Film is changing: The Introduction of Big Data Analytics
- Would Gone With The Wind Have Been Made With Big Data Analytics?
Working For Your Success
No matter what the budget, all filmmakers want their movies to be a box office success.
Naturally, as artists, moviemakers have been skeptical of this exciting new technology.
However, with the success of its Domani e Un Altro Giorno gross revenue prediction, Largo Films has validated why its data-driven moviemaking software is such a powerful tool for filmmakers.
By being able to accurately predict box office income, and even boost it by making changes, production companies will be able to assign filmmakers accurate budgets with which to make their movies.
This will effectively end the days of movies flopping at the box office and ruining their directors/stars’ careers. This will be a huge plus for the industry.
If you are interested in getting help to ensure that your film’s success, then contact Largo Films.