Tuesday, July 17, 2007

An economist goes to the movies

I get a marvellous daily email newsletter called Investment and Business News, which usually has something wise and wonderful to say about economics and business trends.

I'm very critical of economists, I think they often fail to see the creativity in business and the skill of the entrepreneur in marketing and selling. But these guys are quite shrewd. They realise that people do well because they get better at sales, processes and products, not just because the economy is kind to them.

Take this:

Talking of cycles, Hollywood seems to follow a similar pattern, although the cycles seem a lot shorter.
2005 was the year of the big blockbuster, 2006 was quiet.
But 2007 has seen one hit after another. In the US, two of the top three opening weekends ever seen were for films released this year: Spider Man 3 and Shrek the Third.
And now it’s Harry's turn. What with the last book in the series coming out soon, there seems to be more interest than normal in the latest Harry Potter film.
And sure enough, Harry Potter and the Order of the Phoenix enjoyed the best ever box office receipts ever seen in the US on Wednesday. It knocked Spider Man 2 off the top spot.
But while the last few years have seen a rush of record breaking opening weekends and first days, the all time most successful films are a little older.
The all-time record for box office receipts worldwide belongs to Titanic. As for the top ten, it contains the three Lord of The Rings films, three Harry Potter movies, Shrek 2, Jurassic Park, and Star Wars Phantom Menace.

Joanna Rowling isn't a multi-millionaire because the book trade is doing well, it's because people like her books. And films.

Anyway, the link for you to subscribe to it is here.

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