It’s no secret that Twitter‘s data has been shown to predict box office performance weeks before a movie opening. However, the company’s latest venture takes it much further back in the production cycle.
Adam Bain, president of global revenue at Twitter, said he was making the rounds in the Hollywood studios recently when a producer gave him a proposal: “One studio chief said ‘This is amazing. I’ve got a film in production right now and I’m making casting decisions. What can Twitter tell me about a movie that’s going to appear two years from now?'”
That led Twitter to take part in what Bain calls a Moneyball-style effort to find undervalued actors. Bain didn’t go into specifics, but said the actors are being considered not because of their follower counts, but because of their engagement. Bain declined to say which studio and which film Twitter is working with. As for the results? “We’ll have to wait two years,” he said.
Bain, who was an exec at Fox Sports and Fox Interactive Media before joining Twitter, told the anecdote during media-buying firm OMD’s Social Day in New York on Thursday. Also in attendance was Deb Roy, the co-founder of Bluefin Labs, a social TV analytics firm. Twitter announced this week that it was buying Bluefin, which signals a deeper dive into providing data for the entertainment industry.
Why Am I Curious?
I am always interested to see the innovative ways people are starting to view and analyze the massive amounts of social data that is out there and use it to make predictions and smart investments. The initiative Twitter is undertaking is quite an interesting one and i am curious about the results because I do wonder if an actor’s social interactions and personalities before he/she is an unknown have anything to do with whether they do catch their break eventually. In addition to Twitter using its data to predict next big breakout start through their social interactions, this week, Spotify announced that it would use its streaming data to predict the Grammy winners that are to be announced this weekend. Clearly, the predictive analysis using social data isa trend that is gaining momentum and I am interested to see if the predictions will be valuable enough to see increasingly more applications of it in the near future.