Film Producers Using Big Data to Target the Right Audience
Undoubtedly, the world in the 21st century is driven by data. Even multi-billion dollar industries, like film production, constantly gather and analyze data. Producers in the last century could rely on a few reliable sources and often produced films out of the blue. However, the success or failure of a film nowadays can now be predicted more accurately.
The startup Cues wants to support the producers’ decision making process with extensive qualitative data in order to prevent failure of a million dollar project. Cues provides its customers with information about the possible audience of a film beforehand. We reveal online many invaluable information about our favourite films and actors. Everything can be used to predict whether we are interested in a particular film fitting into a specific genre.
How Data Science Changes the Movie Industry
How this data-driven approach affects the film landscape can already be observed on Netflix. However, other studios will probably also use more quantitative approach to play it safe in their productions in the future. Whether this means, that in the future we will only be presented with carefully selected stories, is up in the air. Netflix is currently producing a lot of TV series with a specific niche which connects it to their loyal audience.
Cues is therefore not only designed for large studios but also for small indie producers. Those especially may find it easier to reach a small target group using Cues’ data. In the best scenario, the data-driven approach in the film industry could lead to a new boom of independent films, as it makes it easier to reach potential viewers.
Cues was part of the initiative of the European Film Market during the Berlinale 2018, aiming to connect start-ups with the established film industry.
For more details, check out the company website.