Hollywood's Love of Analytics Couldn't Prevent Six Massive Blockbuster Flops 1029
Nerval's Lobster writes "In June, Steven Spielberg predicted that Hollywood was on the verge of an 'implosion' in which 'three or four or maybe even a half-dozen megabudget movies are going to go crashing to the ground.' The resulting destruction, he added, could change the film industry in radical and possibly unwelcome ways. And sooner than he may have thought, the implosion has arrived: in the past couple weeks, six wannabe blockbusters have cratered at the North American box office: 'R.I.P.D.,' 'After Earth,' 'White House Down,' 'Pacific Rim,' and 'The Lone Ranger.' These films featured big stars, bigger explosions, and top-notch special effects—exactly the sort of summer spectacle that ordinarily assures a solid run at the box office. Yet all of them failed to draw in the massive audiences needed to earn back their gargantuan budgets. Hollywood's more reliant than ever on analytics to predict how movies will do, and even Google has taken some baby-steps into that arena with a white paper describing how search-query patterns and paid clicks can estimate how well a movie will do on its opening weekend, but none of that data seems to be helping Hollywood avoid shooting itself in the foot with a 'Pacific Rim'-sized plasma cannon. In other words, analytics can help studios refine their rollout strategy for new films—but the bulk of box-office success ultimately comes down to the most elusive and unquantifiable of things: knowing what the audience wants before it does, and a whole lot of luck."
