Research On The Evaluation Of Film Copyright Value

As a carrier of culture and art,film is not only a popular way of entertainment for the people,but also a channel to convey culture,emotion and values.As an important part of Chinese cultural industry,the film industry develops rapidly under the background of the strong support of national policies and the increasing improvement of people’s living standards.With the vigorous development of China’s film industry,the movie-related copyright transaction and investment and financing activities are becoming more and more active.It is particularly important to reasonably price the value of film copyright so as to facilitate the conclusion of the copyright transaction and the smooth progress of investment and financing activities.The accurate valuation of film copyright can provide a reference for the transaction of copyright works to the satisfaction of both parties.It can also enable investors to grasp good investment opportunities,so that film producers get appropriate financing opportunities.This paper attempts to improve the scientificity and rationality of the film copyright value by constructing the evaluation system of the film copyright value,and to supplement the evaluation system of film copyright value on the basis of the traditional evaluation model.By reviewing relevant theoretical and empirical studies at home and abroad,this paper divides the film copyright value into two parts:the value of box office revenue and the value of options,and accordingly divides the valuation study into two parts.The first part discusses how to predict the film box office.The film box office is not only an important part of evaluating the copyright value,but also one of the parameters of the b-s model.This paper adopts the multiple regression model to predict the film box office.After synthesizing the previous research results and analyzing the actual empirical data,eight independent variables including sequel/adaptation,schedule,director,actor,screening time,distribution company,production company and picture quality were finally selected to conduct a regression analysis with the film box office as the dependent variable and build a box office prediction model.The second part,combined with the real option theory,explains the optionality of film copyright and the value of options brought by it,constructs the b-s model for evaluating the value of film copyright options,and discusses the determination of various parameters in the modeI.Finally,this paper takes the movie red sea as an example to verify the film copyright value evaluation model of "multiple regression model + real option model"constructed in this paper.The difference between the box office predicted by the multiple regression model and the actual box office is only 4%,which indicates that the prediction of the box office by this model has certain accuracy and applicability.It is difficult to verify the authenticity of the evaluation result of the film copyright option value with the real option model because the real transaction information cannot be found,which needs to be further verified and improved.But trying to explore the option value of film copyright can provide reference basis for investment decision in addition to box office,and also has certain research significance.