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THE MARKET FOR MOTION PICTURES: RANK, REVENUE, AND SURVIVAL
Every motion picture is an innovation that competes for theater screens and audiences during its brief life against a changing array of imperfect substitutes. We analyze a large sample of motion pictures as an evolving rank tournament of survival and death. The results indicate that the failure rate...
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Published in: | Economic inquiry 1997-10, Vol.35 (4), p.783-797 |
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Main Authors: | , |
Format: | Article |
Language: | English |
Subjects: | |
Citations: | Items that this one cites Items that cite this one |
Online Access: | Get full text |
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Summary: | Every motion picture is an innovation that competes for theater screens and audiences during its brief life against a changing array of imperfect substitutes. We analyze a large sample of motion pictures as an evolving rank tournament of survival and death. The results indicate that the failure rate of motion pictures is timeādependent and survival time is strongly related to the number of initial bookings. Weekly box office revenue is highly convex in rank, which is consistent with Rosen's superstar phenomenon. Our results have implications for motion picture licensing arrangements, which have been severely restricted by U.S. court decisions. |
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ISSN: | 0095-2583 1465-7295 |
DOI: | 10.1111/j.1465-7295.1997.tb01964.x |