Analysis of The Field of Dreams

The purpose of the research is to identify whether wit will be a good idea to do a remake of the field of dreams movie. The report will look at the analysis of top all time movies and movies and the studios with the highest gross sales.

From the graph of total gross and opening weekend gross, it is evident that the movie sales in 2016 continued to increase. However, when the total sales compared to the opening weekend gross sales, it is only about a quarter of the total gross. When the days in release are compared to the total gross sales, the amount is so small that it is not visible in the graph.  It is an indication that the day in release does not contribute much to the total movie sales. Comparing the number of theatres to total gross sales shows that the two are almost of the same amount. It can be seen from the graph below.    

From the statistics, the most successful sports movies are the blind side

which is leading with 256 in total gross. It is followed by Rocky at 117 and in third place is remember the Titans at 116. The graph below shows the most successful sport movie.

The studios with highest total gross are WB (638) and it is followed by UA (455) and BV (341). It is better illustrated in the graph below.

In conclusion, there are implications of the statistics for Buena Vista pictures when they do a sequel for the field of dreams. There is a tough competition in the sport movie category. The movie has to be really good to attract more sales.  The movie was first released in 1989. It only sold 64 million. From the statistics, it is clear that remaking the cast is a good idea but the company has to make a few changes to increase the sales.  The studio that should be benchmarked is Universal. It has total gross revenue of 246.  The good target for the opening weekend sales is to have any amount that starts from 32 million. The target for the number of theatres should be 3,200. The target for days in release is 100 and the target in total gross is $103 million. These values represent the averages.  Based on the statistics on running days and opening dates for sports movies, it is clear that Buena Vista needs to invest more on opening dates of the movie. The blind side is the highest selling sports movie. The blind side has 256 sales while field of dreams has only 64. The concept of field of dream may work but there is a number studio has to make a lot of changes in to get increased sales. The number of theatre is the highest contribution to the increase in movie sales. From the data Buena Vista is the third in movie sales.  The benchmark studio is universal and it is slightly below Buena Vista. The concept can work but there is a lot of work that has to be done in order to get higher sales from the movie.   The movie will no doubt make higher sales since it will have a different touch added to it.  According to Basuroy & Chatterjee (2008), sequels perform better when they are released after the parent movie.  Thus, if Buena Vista wants to succeed with the sequel, it is vital to release the movie as soon as possible.

Reference

Basuroy, S., & Chatterjee, S. (2008). Fast and frequent: Investigating box office revenues of motion picture sequels. Journal of Business Research, 61(7), 798-803.