Press Releases
March 2, 2004
filmBUZZ RELEASES FIRST COMPREHENSIVE STUDY OF FILM FESTIVALS' INFLUENCE ON INDEPENDENT FILM SECTOR
Preliminary Findings Show Regional Events Are Accurate Indicators of Arthouse Box Office Success
LOS ANGELES – March 2, 2004 – Independent film research and tracking firm filmBUZZ released today the first in-depth, nationwide analysis of film festivals, concluding that these events provide important indicators for box office success of specialty films. More than 25,000 audience members, 419 unique film titles, and 63 film festivals were included in the year-long study, conducted throughout 2003.filmBUZZ estimates that as many as 2 million movie-goers attend a film festival in the United States each year, reflecting a loyal independent film audience that may be currently underutilized by distributors. “In our exit surveys at film festivals, we discovered that audiences members' demographics closely mirror those of arthouse patrons,” said Greg Kahn, filmBUZZ President. “These film festival attendees, the majority of whom live in close proximity to the events, are prototypical ‘influencers' who also actively support independent film outside of the festival circuit. Kahn added, “our research indicates that film festival audience members are 2 to 3 times more likely than the typical American filmgoer to see a motion picture in a theater.”
The report focuses on the “playability” of films among core audiences, demonstrating the value of tracking word-of-mouth at regional film festivals in order to forecast the box office potential of a film's theatrical release. filmBUZZ's 40-page analysis also examines the effect of critical reviews on theatrical revenue. In its preliminary analysis of professional film reviews, filmBUZZ found no correlation between critical praise and either audience ratings or box office success.
Also highlighted in the report is an analysis of the relative value of advertising, publicity, award nominations, critical reviews, and screen penetration on domestic box office sales for independent and foreign films. The study collectively addresses several important questions, including:
• How can box official potential be predicted from audience feedback?
• How does the demographic profile of a regional film festival audience compare to that of an art house audience and the general American public?
• How can U.S. film festival audiences predict trends in taste in the independent film marketplace?
• How can festivals be effectively utilized to discover new films?
Priced at $99.99, the report is available for order at filmBUZZ's website, www.filmbuzzmarketing.com . filmBUZZ, an independent film tracking firm based in Los Angeles, works with film festivals across the U.S. to solicit audience feedback to hundreds of independent films. For more information, please visit www.filmbuzzmarketing.com .
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March 9, 2003
filmBUZZ to Revolutionize Independent Film Industry
New venture is first-ever market research firm to focus on independent film and film festivals
Los Angeles – Independent filmmakers and distributors have a new ally. filmBUZZ, LLC, is the first full-service entertainment market research firm to focus exclusively on independent film. filmBUZZ provides a service that its name suggests -- it collects and reports the “buzz” on films. The company is uniquely positioned to offer its services at events where filmmakers and distributors converge -- film festivals.
“Our mission is to make market research accessible to independent filmmakers,” said Gregory Kahn, filmBUZZ co-founder and director of business development. “Understanding the target audience for your film is crucial, regardless of whether or not you are part of the studio system. But while studios have the budgets to conduct large-scale test screenings, independent producers and distributors frequently do not.”
filmBUZZ has found a solution to this cost dilemma by partnering with film festivals to poll audiences at regional festivals throughout the United States and abroad. Filmmakers can buy screening reports for their films from filmBUZZ partner festivals for a fraction of the cost of a traditional test screening. “A filmmaker who shows his or her film at 10 different festivals currently can buy a filmBUZZ report at each festival and cumulatively spend less than the cost of one traditional test screening,” said Kahn. “But by using our services, that filmmaker is hearing the audience reaction in 10 separate geographic markets, instead of only one.”
filmBUZZ has created a business model that benefits all parties. In return for access to screenings at film festivals, filmBUZZ provides its partner festivals with complimentary data from its research. Festivals, which are typically supported through corporate sponsorships and ticket sales, can use filmBUZZ data to increase both of these income sources. filmBUZZ’s demographic information allows festival organizers to more strategically approach corporate sponsors, while the screening results help festival curators make programming decisions that will ultimately increase attendance.
Los Angeles-based filmBUZZ has already captured the attention of influential members of the independent film community. The company has established a partnership with Chris Gore, editor of Film Threat (www.filmthreat.com) and author of "The Ultimate Film Festival Survival Guide.” At the conclusion of each of filmBUZZ’s partner festivals, ratings for the top films will be published on www.filmthreat.com. “It’s hard to believe that nobody has thought of this business before,” said Gore. “It’s a great opportunity for films to get much-needed exposure, when they might otherwise go unnoticed. This is a tremendous boost for filmmakers and a service that this industry desperately needs.”
filmBUZZ, which piloted its audience research services at the St. Louis International Film Festival (www.sliff.org.com) in November 2002, commenced its 2003 schedule at the South by Southwest Film Conference and Festival (www.sxsw.com) with an educational roundtable on using market research in independent film. Its upcoming research partners include the Memphis International Film Festival (www.memphisfilmforum.org) and the Newport Beach Film Festival (www.newportbeachfilmfest.com).
For more information on filmBUZZ, please visit www.filmbuzzmarketing.com.