Awards season is here, but do awards drive Box Office? Our data science team has uncovered a whole new year’s worth of Oscars® insights using Movio Media, including the effect of a nomination on moviegoer habits.
The Shape Of Water, Call Me By Your Name and I, Tonya all attracted a different audience after receiving several Oscar® nominations compared to the initial audience. The audiences for all three became significantly older post-nomination, driven by a lot more 50+ moviegoers. But what impact did this have on Box Office?
For example, in the weeks following the Oscar® nominations, The Shape of Water achieved 43% of its Box Office which is impressive as it had been in wide release four weeks when the nominations were announced (8 weeks since its limited release). Moreover, the week immediately following the Oscar® nominations saw a 171% increase in Box Office compared to the week before. This equates to an estimated 5-10% increase in the total Box Office revenue due to the increased interest from the 50+ moviegoer audience.
This demonstrates how Academy Award® nominations can expand the audience attracted to a movie after nominations are announced and ultimately boost Box Office.