This project analyzes the studio movie industry. Descriptive analytics show that there is a dominant formula for creating high grossing movies. Microsoft can use this infomation to make a data driven choice on what type of content they should produce.
Microsoft sees all the big companies creating original video content, and they want to get in on the fun. They have decided to create a new movie studio, but the problem is they don’t know anything about creating movies. They have hired you to help them better understand the movie industry. Your team is charged with exploring what type of films are currently doing the best at the box office. You must then translate those findings into actionable insights that the head of Microsoft's new movie studio can use to help decide what type of films to create.
Data for this project included information from IMDB, Rotten Tomatoes, Box Office Mojo, and The Movie Bug Database. This data included: movie titles, premiere dates, box office gross (domestic & foreign), ratings, reviews, and movie synopses. The data gives a overview of all theatre released movies up until 2018.
This project uses descriptive analytics including changes in trends over time & comparitive analysis between movie features. This provides meanigul insight in movie industry trends.
Question 1: What are the current trends in the movie industy? Since 2019 the movie industry has made of 80 billion dollars and more than 250 studios have released 3,000 movies into theaters. There was a boom in the number of movies that were produced between 2010 and 2015 as well as a dramatic spike in the number of movie studios. Since then there has been a 31.56% drop in the number of movies produced between 2015 & 2018. Most recent data shows that 308 movies were released in 2018. On average studios produce between 7 & 14 movies per year and 76 studios released movies in 2018.
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Question 2: What percentage of the market do the top earning movies occupy?
In 2018 movies grossed over 11 billion dollars domestically. Of that, the gross for the top 5 highest earners accounted for over 2 billion dollars. These 5 movies were produced by only 3 studios but accounted for almost 25% of the total domestic gross.
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Question 3: Based on the top 5 domestic grossing movies what type of movie should Microsoft produce? Of the top 5 grossing movies since 2010 71% can be classified into the "Action" genre. Within that genre 98% aslo classify themselves as "Adventure". Further breaking down the genes - "Comedy" emerges as a low saturation/ high yield sub Action genre. The majority of the movies within this category are either PG or PG-13. Finally ther is a strong correlation (0.97) between domestic gross and release date of movies.
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Based on these findings the recommendations to Microsoft are as follows:
- Microsoft should target producing 10 movies in year 1 of production.
- In order to optimize profit potential, Microsoft should emulate the top five highest earning movies in at least half of their first-year productions.
- Microsoft should produce an Action-Adventure Comedy with a PG Rating and a mid-February release.
Given addional time I would pursue the following:
- Foreign Gross: Analyze the foreign markets by genre, country, rating, and release date to better understand global trends.
- Sentimentality: Measure the sentimentality of Rotten Tomatoes and other reviews and explore relationship to movie gross.
- Art House Films: Look at successful low-budget movies to make an indie film recommendation to Microsoft.