Clark Schultz writes: A nice dose of number-crunching on the relationship between box office totals and the stocks of media companies owning studios leads to an edifying lesson in just how meaningless some of the entertainment press headlines on the so-called success of the major tent-pole films can be. The increasing importance of global movie markets like China and the obtuse studio system of accounting and write-offs, along with a host of other factors, keeps the business of linking weekly box office wins and immediate stock performance a tricky business. Trying to find some correlation between various box office stats and movie studio stock returns leads to wretched failure. The only answer for investors? Put Nikki Finke and a quant in the same room.
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