Marking CinemaCon’s International Day, Gower Street Analytics and Comscore Movies announce the launch of the new, global version of Gower Street’s FORECAST service.
Global FORECAST, developed by Gower Street Analytics in partnership with Comscore Movies, aids the global distribution strategy of studios and is powered by a proprietary theatrical simulation model that generates a realistic forward market view, with film estimates by country, title and day.
The service is a tool which studio analysts can utilize to explore potential feature film release dates with near real-time what-if dating scenarios, identify risk due to competitive release date changes, optimize title potential by flagging dating opportunities, and find available audience segments likely to convert on specific dates.
FORECAST Global now covers more than 40 countries in detail, an expansion from 6 major markets previously, simulating 95% of the global box office up to 18 months in advance. The service is already in use in individual or multiple territories by three major studios and a number of independent distributors and exhibitors around the world.
While the Global offering was in its test phase in October 2021, Gower Street estimated total global box office in 2021 would reach $21.6 billion. On January 6, Gower Street was one of the first film analytics companies to estimate the year-end result, at $21.4 billion. Last month official final figures published by the MPA in its annual Theme Report stated the figure to be $21.3 billion. This showed that Gower Street’s global estimate was less than 0.5% off the final result in its early January announcement and showed only a 1.4% differential in its October forecast.
Gower Street has recently revised its Global Box Office Projection for 2022 to $31.5 billion.
“After seeing phenomenal recovery in 2021, we predict that box office revenue growth will continue to soar in 2022, reaching more than $30 billion globally,” said Dimitrios Mitsinikos, CEO of Gower Street Analytics. “This expansion of our FORECAST service will help the studios maximize the potential of their diverse slates of upcoming content in a dramatically evolving landscape.”
FORECAST Global also allows clients to view a predictive global breakdown by market for 75 global markets, utilizing machine-learning algorithms to provide estimates for markets outside of Gower Street’s 40+ detailed territories.
“In partnership with Gower Street, any studio will have access to actionable intelligence, ensuring their films make the strongest debut possible.” said Arturo Guillen, EVP & Global Managing Director, Comscore Movies. “The entire industry benefits from the usage of predictive analytics especially now to accelerate recovery and maximize market growth”
To learn more about FORECAST, contact Gower Street Analytics or your local Comscore Movies representative.