Research On The Influence Of Online Word-of Mouth On The Economic Benefits Of Film Products

The movie industry occupies an increasingly important position in the national economy.The position of China's movie market in the global movie market is evident.In 2016,the total revenue of China's national box office broke through to 49.3 billion yuan,ranking second in the world.It is necessary to study how to improve the economic benefits of film products while avoiding the corresponding risks.Moreover,relatively systematic study of movie box office influencing factors is also an effective measure to weigh the movie product risk and return.Based on the existing research and the reality of Chinese movie product market,this article establishes 3 index system of 7 indicators to construct the index system of influencing factors of movie product economic benefit,making qualitative and quantitative analysis,which including Internet word of mouth(movie rating/expectation Index),movie genres(science fiction,romance,drama,animation,action,comedy),technical effects(standard type),degree of continuation of the film(sequel or adaptation),creative team(lead lineup),production company and issuer company.Based on the data of the top 300 movies released in China from 2012 to 2016 and the data of 1359 movies released in 2009-2015 respectively,empirical analysis of the factors affecting the economic benefits of film products has been done under the support of STATA14.0 measurement software,using multivariate linear regression model and quantile Regression model.According to the results of the regression,the author believes that when the total movie box office price and movie box office cost ratio are selected to represent the economic benefits of the movie products,the Internet word of mouth has a positive effect on the movie box office and has a negative impact on the movie box office cost ratio.There is a U-shaped relationship between box office income and word-of-mouth;actors,production announcements and technical levels have a positive effect on movie box office;drama types inhibit movie box office,comedy and love types are not significant;actors,distribution companies,degree of continuation,and technology have a positive effect.It should be particularly pointed out that the Internet word of mouth(number of people concerned)has a double impact on the measure of movie box office's economic efficiency,that is,its effect is U-shaped,and it has a negative influence on movie box office under a certain threshold of word-of-mouth.Based on the results of the previous empirical findings,we present three main suggestions.First,we must insist on domestic movies telling stories.Compared with the number of the movies,more emphasis on movies' quality.Secondly,in the process of producing movie products,we must pay more attention to online word-of-mouth.Such as the changes in online word-of-mouth of the movie through relevant professional or amateur movie websites.Enhance the movie's attention and form a targeted word-of-mouth effect for the produced movie in different ways,which will increase the box office.Thirdly,under the condition that the investment quota is relatively sufficient,we will upgrade the main lineup to a greater extent,and selectively join in some market-recognized cast members to maximize the scope of the audience for the established movie products,and at the same time give the film products promotion marketing bands.