DOI QR코드

DOI QR Code

The Periodic Relationship between eWOM Volume/Valence and Box Office Revenue

온라인 구전량 및 평점과 시기별 영화 흥행과의 관계

  • 장리 (연세대학교 대학원 경영학과) ;
  • 최강준 (연세대학교 대학원 경영학과) ;
  • 이재영 (연세대학교 경영대학)
  • Published : 2017.06.01

Abstract

Word-of-mouth (WOM), the communication between consumers offline, has transformed to include electronic word-of-mouth(eWOM), which has grown in its influence due to the advancements in communication technology. Despite the fact that many researchers have studied the impact of WOM and eWOM on the performance of movies in the movie industry, there still exists much controversy. Therefore, this study investigates the relationship of eWOM's volume and valence with the box office revenue for 2 years in Korean movies industry. The results show that the volume of eWOM, which is expected to related to awareness diffusion, is more important than the valence in the early stage of movie release. And in the later stage, the valence of eWOM which is expected to related to persuasion effect influences the box office revenue. In addition, the relationship of the volume and valence on box office revenue in both early and later stage can be increased through the interaction with the star power which raises the familiarity or the movie genre which causes the high arousal.

Acknowledgement

Supported by : 연세대학교

References

  1. 고정민 2010. "미국영화와 한국영화의 흥행요인에 관한 비교연구," 문화산업연구 (10:2), pp. 71-96.
  2. 네이버 영화: http://movie.naver.com.
  3. 배정호, 심범준, 김병도 2010. "온라인 구전과 영화 매출 간 상호영향에 관한 연구: 한국 영화산업을 중심으로," 한국마케팅저널 (12:2), pp. 1-25.
  4. 안지혜, 민병현 2011. "영화 마케팅 채널로서 소셜미디어의 가능성- 다큐멘터리 영화<땅의 여자> 트위터 마케팅 사례를 중심으로" 한국콘텐츠학회논문지, (11:6), pp.228-241 https://doi.org/10.5392/JKCA.2011.11.6.228
  5. 영화진흥위원회: www.kofic.or.kr.
  6. 이진균 2015. "SNS 소비자제작광고가 구전행위에 미치는 영향 : 소비자 성격요인의 조절작용을 중심으로," 광고학연구, (26:2), pp.115-138.
  7. 한국콘텐츠진흥원: www.kocca.kr.
  8. Alba, J. W., & Hutchinson, J. W. 1987. "Dimensions of consumer expertise," Journal of consumer research (13:4), pp. 411-454. https://doi.org/10.1086/209080
  9. Ahluwalia, R., & Shiv, B. 1997. "Special session summary the effects of negative information in the political and marketing arenas: Exceptions to the negativity effect," NA-Advances in Consumer Research Volume 24.
  10. Basuroy, S., Chatterjee, S., & Ravid, S. A. 2003. "How critical are critical reviews? The box office effects of film critics, star power, and budgets," Journal of marketing (67:4), pp. 103-117. https://doi.org/10.1509/jmkg.67.4.103.18692
  11. Basuroy, S., Desai, K. K., & Talukdar, D. 2006. "An empirical investigation of signaling in the motion picture industry," Journal of Marketing Research (43:2), pp. 287-295. https://doi.org/10.1509/jmkr.43.2.287
  12. Berger, J., & Schwartz, E. M. 2011. "What drives immediate and ongoing word of mouth?," Journal of Marketing Research (48:5), pp. 869-880. https://doi.org/10.1509/jmkr.48.5.869
  13. Biswas, A. 1992. "The moderating role of brand familiarity in reference price perceptions," Journal of Business Research (25:3), pp. 251-262. https://doi.org/10.1016/0148-2963(92)90033-8
  14. Bradley, M. M., Greenwald, M. K., Petry, M. C., & Lang, P. J. 1992. "Remembering pictures: Pleasure and arousal in memory," Journal of experimental psychology: Learning, Memory, and Cognition (18:2), pp. 379-390. https://doi.org/10.1037/0278-7393.18.2.379
  15. Brown, T. J., Barry, T. E., Dacin, P. A., & Gunst, R. F. 2005. "Spreading the word: Investigating antecedents of consumers' positive word-of-mouth intentions and behaviors in a retailing context," Journal of the Academy of Marketing Science, (33:2), pp.123-138. https://doi.org/10.1177/0092070304268417
  16. Cauberghe, V., & De Pelsmacker, P. 2010. "The effectiveness of telescopic ads delivered via interactive digital television: The impact of the amount of information and the level of interactivity on brand responses," Journal of Interactive Marketing (24:4), pp. 297-308. https://doi.org/10.1016/j.intmar.2010.07.003
  17. Chang, B. H., & Ki, E. J. 2005. "Devising a practical model for predicting theatrical movie success: Focusing on the experience good property," Journal of Media Economics (18:4), pp. 247-269. https://doi.org/10.1207/s15327736me1804_2
  18. Chakravarty, A., Liu, Y., & Mazumdar, T. 2010. "The differential effects of online word-of-mouth and critics' reviews on pre-release movie evaluation," Journal of Interactive Marketing (24:3), pp. 185-197. https://doi.org/10.1016/j.intmar.2010.04.001
  19. Chen, P. Y., Wu, S. Y., & Yoon, J. 2004. "The impact of online recommendations and consumer feedback on sales," ICIS 2004 Proceedings, pp. 58.
  20. Clemons, E. K., Gao, G. G., & Hitt, L. M. 2006. "When online reviews meet hyperdifferentiation: A study of the craft beer industry," Journal of management information systems (23:2), pp. 149-171. https://doi.org/10.2753/MIS0742-1222230207
  21. Collins, A., Hand, C., & Snell, M. C. 2002. "What makes a blockbuster? Economic analysis of film success in the United Kingdom," Managerial and Decision Economics (23:6), pp. 343-354. https://doi.org/10.1002/mde.1069
  22. De Vany, A ., & Walls, W. D. 1999. " Uncertainty in the movie industry: Does star power reduce the terror of the box office?" Journal of cultural economics (23:4), pp. 285-318. https://doi.org/10.1023/A:1007608125988
  23. Desai, K. K., & Basuroy, S. 2005. "Interactive influence of genre familiarity, star power, and critics' reviews in the cultural goods industry: The case of motion pictures," Psychology & Marketing (22:3), pp. 203-223. https://doi.org/10.1002/mar.20055
  24. Dellarocas, C., Zhang, X. M., & Awad, N. F. 2007. "Exploring the value of online product reviews in forecasting sales: The case of motion pictures," Journal of Interactive marketing (21:4), pp. 23-45. https://doi.org/10.1002/dir.20087
  25. Duan, W., Gu, B., & Whinston, A. B. 2008. "The dynamics of online word-of-mouth and product sales-An empirical investigation of the movie industry," Journal of retailing (84:2), pp. 233-242. https://doi.org/10.1016/j.jretai.2008.04.005
  26. Easterbrook, J. A. 1959. "The effect of emotion on cue utilization and the organization of behavior," Psychological review (66:3), pp. 183. https://doi.org/10.1037/h0047707
  27. Eliashberg, J., & Shugan, S. M. 1997. "Film critics: Influencers or predictors?" The Journal of Marketing, pp. 68-78.
  28. Elberse, A., & Eliashberg, J. 2003. "Demand and supply dynamics for sequentially released products in international markets: The case of motion pictures," Marketing Science (22:3), pp. 329-354. https://doi.org/10.1287/mksc.22.3.329.17740
  29. Greenwald, A. G. 1968. "Cognitive learning, cognitive response to persuasion, and attitude change," Psychological foundations of attitudes, pp. 147-170.
  30. Grewal, D., Gotlieb, J. and Marmorstein, H., 1994. "The moderating effects of message framing and source credibility on the price-perceived risk relationship," Journal of consumer research (21:1), pp.145-153. https://doi.org/10.1086/209388
  31. Harmon, R. R., & Coney, K. A. 1982. "The persuasive effects of source credibility in buy and lease situations," Journal of Marketing research, pp. 255-260.
  32. Ho, J. Y., & Dempsey, M. 2010. "Viral marketing: Motivations to forward online content," Journal of Business research (63:9), pp. 1000-1006. https://doi.org/10.1016/j.jbusres.2008.08.010
  33. Holbrook, M. B. 1999. "Consumer value: a framework for analysis and research," Psychology Press.
  34. Kahneman, D. 1973. "Attention and effort," Englewood Cliffs, NJ: Prentice-Hall, p. 246.
  35. Kennedy, A., & Inkpen, D. 2006. "Sentiment classification of movie reviews using contextual valence shifters," Computational intelligence (22:2), pp. 110-125. https://doi.org/10.1111/j.1467-8640.2006.00277.x
  36. Kensinger, E. A., & Corkin, S. 2003. "Memory enhancement for emotional words: Are emotional words more vividly remembered than neutral words?" Memory & cognition (31:8), pp. 1169-1180. https://doi.org/10.3758/BF03195800
  37. Kiecker, P., & Cowles, D. 2002. "Interpersonal communication and personal influence on the Internet: A framework for examining online word-of-mouth," Journal of Euromarketing (11:2), pp. 71-88. https://doi.org/10.1300/J037v11n02_04
  38. King, R.A., Racherla, P. and Bush, V.D., 2014. "What we know and don't know about online word-of-mouth: A review and synthesis of the literature," Journal of Interactive Marketing (28:3), pp. 167-183. https://doi.org/10.1016/j.intmar.2014.02.001
  39. Klayman, J., & Ha, Y. W. 1987. "Confirmation, disconfirmation, and information in hypothesis testing," Psychological review (94:2), pp. 211. https://doi.org/10.1037/0033-295X.94.2.211
  40. Levin, A. M., Levin, I. P., & Heath, C. E. 1997. "Movie stars and authors as brand names: Measuring brand equity in experiential products," NA-Advances in Consumer Research Volume 24.
  41. Lee, J., Park, D. H., & Han, I. 2008. "The effect of negative online consumer reviews on product attitude: An information processing view," Electronic commerce research and applications (7:3), pp. 341-352. https://doi.org/10.1016/j.elerap.2007.05.004
  42. Litman, B. R. 1983. "Predicting success of theatrical movies: An empirical study," The Journal of Popular Culture (16:4), pp. 159-175. https://doi.org/10.1111/j.0022-3840.1983.1604_159.x
  43. Litman, B. R., & Kohl, L. S. 1989. "Predicting financial success of motion pictures: The' 80s experience," Journal of Media Economics (2:2), pp. 35-50. https://doi.org/10.1080/08997768909358184
  44. Litman, B. R., & Ahn, H. 1998. "Predicting Financial Success of Motion Pictures," BR Litman The Motion Picture Mega-Industry.
  45. Liu, Y. 2006. "Word of mouth for movies: Its dynamics and impact on box office revenue," Journal of marketing (70:3), pp. 74-89. https://doi.org/10.1509/jmkg.70.3.074
  46. Mahajan, V., Muller, E., & Kerin, R. A. 1984. "Introduction strategy for new products with positive and negative word-of-mouth," Management Science (30:12), pp. 1389-1404. https://doi.org/10.1287/mnsc.30.12.1389
  47. Maheswaran, D. 1994. "Country of origin as a stereotype: Effects of consumer expertise and attribute strength on product evaluations," Journal of consumer research (21:2), pp. 354-365. https://doi.org/10.1086/209403
  48. Schooler, J.W. and Eich, E. 2000, "Memory for emotional events".
  49. Mizerski, R. W. 1982. "An attribution explanation of the disproportionate influence of unfavorable information," Journal of Consumer Research (9:3), pp. 301-310. https://doi.org/10.1086/208925
  50. Neelamegham, R., & Chintagunta, P. 1999. "A Bayesian model to forecast new product performance in domestic and international markets," Marketing Science (18:2), pp. 115-136. https://doi.org/10.1287/mksc.18.2.115
  51. Ochsner, K. N. 2000. "Are affective events richly recollected or simply familiar? The experience and process of recognizing feelings past," Journal of Experimental Psychology: General (129:2), pp. 242. https://doi.org/10.1037/0096-3445.129.2.242
  52. O'Reilly, C. A. 1980. "Individuals and information overload in organizations: is more necessarily better?" Academy of management journal (23:4), pp. 684-696. https://doi.org/10.5465/255556
  53. Parkinson, B., & Simons, G. 2009. "Affecting others: Social appraisal and emotion contagion in everyday decision making," Personality and social psychology bulletin (35:8), pp. 1071-1084. https://doi.org/10.1177/0146167209336611
  54. Petty, R. E., & Cacioppo, J. T. 1979. "Effects of message repetition and position on cognitive response, recall, and persuasion," Journal of personality and Social Psychology (37:1), pp. 97-109. https://doi.org/10.1037/0022-3514.37.1.97
  55. Petty, R. E., & Cacioppo, J. T. 1979. "Issue involvement can increase or decrease persuasion by enhancing message-relevant cognitive responses," Journal of personality and social psychology (37:10), pp. 1915. https://doi.org/10.1037/0022-3514.37.10.1915
  56. Petty, R. E., Cacioppo, J. T., & Goldman, R. 1981. "Personal involvement as a determinant of argument-based persuasion," Journal of personality and social psychology (41:5), pp. 847. https://doi.org/10.1037/0022-3514.41.5.847
  57. Prag, J., & Casavant, J. 1994. "An empirical study of the determinants of revenues and marketing expenditures in the motion picture industry," Journal of Cultural Economics (18:3), pp. 217-235. https://doi.org/10.1007/BF01080227
  58. Ravid, S. A. 1999. "Information, blockbusters, and stars: A study of the film industry," The Journal of Business (72:4), pp. 463-492. https://doi.org/10.1086/209624
  59. Ravid, S. A., & Basuroy, S. 2004. "Managerial Objectives, the R-Rating Puzzle, and the Production of Violent Films," The Journal of Business (77:S2), pp. S155-S192. https://doi.org/10.1086/381638
  60. Rozin, P., & Royzman, E. B. 2001. "Negativity bias, negativity dominance, and contagion," Personality and social psychology review (5:4), pp. 296-320. https://doi.org/10.1207/S15327957PSPR0504_2
  61. Sanbonmatsu, D. M., & Kardes, F. R. 1988. "The effects of physiological arousal on information processing and persuasion," Journal of Consumer Research (15:3), pp. 379-385. https://doi.org/10.1086/209175
  62. Shrum, W. 1991. "Critics and publics: Cultural mediation in highbrow and popular performing arts," American Journal of Sociology (97:2), pp. 347-375. https://doi.org/10.1086/229782
  63. Singh, S. N., & Hitchon, J. C. 1989. "The intensifying effects of exciting television programs on the reception of subsequent commercials," Psychology & Marketing (6:1), pp. 1-31. https://doi.org/10.1002/mar.4220060102
  64. Stimpert, J. L., & Duhaime, I. 2008. "Managerial cognition and strategic decision making in diversified firms."
  65. Sundaram, D. S., & Webster, C. 1999. "The role of brand familiarity on the impact of word-of-mouth communication on brand evaluations," NA-Advances in Consumer Research Volume 26.
  66. Terry, N., Butler, M., & De'Armond, D. 2004. "The economic impact of movie critics on box office performance," Academy of Marketing Studies Journal (8:1), pp. 61-73.
  67. Wyatt, J. 1991. "High concept, product differentiation, and the contemporary US film industry," Current research in film: Audiences, economics and law (5), pp. 86-105.
  68. Wyatt, R. O., & Badger, D. P. 1990. "Effects of information and evaluation in film criticism," Journalism Quarterly (67:2), pp. 359-368. https://doi.org/10.1177/107769909006700213
  69. Xu, M., Jin, J.S., Luo, S. and Duan, L., 2008, October. "Hierarchical movie affective content analysis based on arousal and valence features," In Proceedings of the 16th ACM international conference on Multimedia, pp. 677-680, ACM.