Under a new partnership, Rentrak and London-based Gower Street Analytics say they will create products that will “improve the efficiency of the global movie market through advanced data science and real-time movie measurement.” In plain speak, GSA’s technology-based forecasting engines will combine with Rentrak’s movie measurement information to offer access to behavioral models that are designed to help distributors optimize release plans.
GSA’s model is not an algorithm to tell you if you’re movie is any good. Rather it is designed to help distributors find the optimal release date in major markets (excluding China for the moment where the local government has the call). Say a distrib is on the fence about going out on February 1 or March 1, GSA has developed a model that will allow them to simulate the box office potential based on specific data including the competitive landscape, holidays, and even weather patterns.
The first product to be launched is a global distribution planning tool that generates estimates for all titles with a planned date, up to 18 months before their theatrical release. For exhibitors, the second is a screen booking optimization tool that will evaluate the performance of all possible scenarios, enabling them to generate optimal recommendations and maximize weekly potential performances of each of their sites.
Simulations already run internally via GSA’s models have shown significant potential increase in box office returns. The plan is to begin rollout in April with Rentrak commercializing subscriptions.
Gower Street was founded in early 2015 by Dimitrios Mitsinikos and Matthew Eric Bassett. Mitsinikos started and led the theatrical distribution analytics team in his previous role as VP, International Research at Universal Pictures International. Bassett led the first data science group at NBCUniversal International and holds invited research positions at Goethe Universitat in Frankfurt and with the Masters of Data Science program at the Barcelona Graduate School of Economics.
Former Universal President, International, David Kosse, who is now the head of Film4, is a non-executive director of Gower Street. He says, “By combining Gower Street’s industry knowledge and technical expertise with Rentrak’s box office and television information, we are set to create the standard in theatrical distribution data analytics.”
“Our industry is changing rapidly and data-driven decision making has become crucial to business success,” adds IMAX’s Andrew Cripps, President, EMEA. “Gower Street Analytics’ models, powered by Rentrak’s movie and TV information, will help distributors and exhibitors identify and capitalize on actionable business insights.”