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J. of the Acad. Mark. Sci. (2012) 40:558571 DOI 10.1007/s11747-010-0241-2
ORIGINAL EMPIRICAL RESEARCH
Adapting to succeed? Leveraging the brand equity of best sellers to succeed at the box office
Amit Joshi & Huifang Mao
Received: 27 July 2010 /Accepted: 1 December 2010 /Published online: 29 December 2010 # Academy of Marketing Science 2010
Abstract Many movies are based on best-selling novels. While book adaptation is an often used strategy in the motion picture industry, it has received little academic attention. Using a multi-method approach, this research investigates the drivers behind the success of book-based movies. In Study 1, we analyze over 700 movies and find that book-based movies perform better at the box office on the opening weekend than non-book movies. However, this superior performance dissipates after the opening weekend. Further, the opening weekend performance of book-based movies is positively driven by book equity, book-movie similarity, and recency between the books peak equity and movie release. After the opening weekend, many of these book-related variables cease to have an impact, and the effect of movie-related variables (e.g., reviews) increases. Because Study 1 documents that book-movie similarity positively impacts the movies performance, contrary to prior findings that content similarity has negative or null impact on performance of a movie sequel, we undertake a second study to reconcile the discrepancy. Study 2 finds that content similarity results in satiation and therefore hampers the movie success for sequels; however, when a movie is adapted from a book, due to experiential modality change (i.e., from book format to film format rather than film to film), content similarity increases the movies chance of success.
Keywords Experiential brand extension . Motion picture industry. Book adaptations . Box office revenue
The motion picture industry attracts an audience of millions and generates tens of billions of dollars in revenue worldwide each year (MPAA 2008). Given the industrys enormous economic and cultural impact, it is not surprising that there is a great amount of academic interest in understanding what contributes to a movies success (e.g., Joshi and Hanssens 2009; Sood and Drze 2006). Past research has noted the presence of high risk associated with new movies (DeVany and Walls 1999), which has motivated academic investigations on production and marketing strategies that are instrumental...