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J Cult Econ (2015) 39:1541
DOI 10.1007/s10824-014-9221-6
ORIGINAL ARTICLE
Bjrn Bohnenkamp Ann-Kristin Knapp
Thorsten Hennig-Thurau Ricarda Schauerte
Received: 30 July 2013 / Accepted: 15 April 2014 / Published online: 21 October 2014 Springer Science+Business Media New York 2014
Abstract A substantial number of current Hollywood productions are remakes of earlier motion pictures. This research investigates the economic implications of this strategy. It develops a conceptual framework of brand extension success in the movie industry that builds upon the sensations and familiarity that a movie offers and uses this framework to illustrate how remakes differ from other movie brand extensions (e.g., sequels). The sensations-familiarity framework is complemented by a contingency model that identies factors which inuence revenues and risk of movie remakes. Using a dataset of 207 remakes released in North American theaters between 1999 and 2011 and a matched sample of other movies, the authors nd that, on average, remakes do not increase revenues but do reduce nancial risk. The authors also provide evidence of the contingency role of several factors, including the original movies awareness and image and the relationship between the original movie and the remake. These insights should be valuable for the movie industry, as they can guide movie producers in their selection of movie brands that, if remade, should be more successful at the box ofce than the average movie remake.
B. Bohnenkamp (&)
Karlshochschule International University, Karlstrae 36-38, 76133 Karlsruhe, Germany e-mail: [email protected]
A.-K. Knapp T. Hennig-Thurau R. Schauerte
Marketing Center Muenster, University of Muenster, Am Stadtgraben 13-15, 48143 Muenster, Germanye-mail: [email protected]
T. Hennig-Thuraue-mail: [email protected]
R. Schauertee-mail: [email protected]
T. Hennig-Thurau
Cass Business School, City University London, 106 Bunhill Row, London EC1Y 8TZ, UK
When does it make sense to do it again? An empirical investigation of contingency factors of movie remakes
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16 J Cult Econ (2015) 39:1541
Keywords Remakes Motion pictures Brand extension
1 Introduction
Hollywood seems obsessed with remaking extremely well-known properties that are well-known purely because of how near-perfect they were the rst time.
(Mendelson 2013)
When searching for the next blockbuster, Hollywood managers frequently produce remakes of previous movies (e.g., Mendelson 2013). The underlying rationale is that remakes, just like sequels and bestseller adaptations for which high returns and low risk have been demonstrated (Hennig-Thurau et...