Research-based policy analysis and commentary
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What has caused the influx of superheroes such as The Avengers and The Justice League in Hollywood in recent years? Leung and Qi (2021) empirically show that globalization plays a huge part, especially with the emergence of the Chinese market in which Action movies face fewer cultural and language barriers.
Continue reading “GLOBALIZATION AND THE RISE OF ACTION MOVIES IN HOLLYWOOD”By Allègre L. Hadida, Joseph Lampel, W. David Walls and Amit Joshi
The battle between traditional Hollywood studios and streaming services like Netflix is a matter of “institutional logics” – commitment logic versus convenience logic.
Continue reading “STUDIOS VS. STREAMING: WHICH ‘LOGIC’ WILL PREVAIL IN HOLLYWOOD?”By Caroline Elliott and Sayantan Ghosh Dastidar
India has a longstanding reputation for its acclaimed film industry and continues to be by far the world’s largest producer of films. Nevertheless, domestic demand for films appears to be waning as in a number of developed countries with mature film industries. Results of the econometric analysis are used to demonstrate how the Indian film market can continue to have a significant positive impact on the Indian economy.
By John Sedgwick and Mike Pokorny
William Goldman, the screenwriter of Butch Cassidy and the Sundance Kid, posited that ‘nobody knows anything’ about the financial risks associated with the film industry, elevated by the Harvard professor Richard Caves to the ‘nobody knows’ principle. Our research suggests otherwise: analysis of the tremendous economic success of film studios over the past 100 years suggests to us that film making is not such a risky business and that somebody would seem to know something!
EconomistsTalkArt.org
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