Luke, Just Stop and Think Economically

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Source: http://tinyurl.com/movk6lz

Movie remakes and sequels often bear less success than the original films or the first in the series. There are instances, however, when a sequel or remake produces equal or even greater success than its predecessors. With this in mind, I want to make an economic prediction: the upcoming Star Wars film “The Force Awakens” will be an inevitable success. Many are skeptical, but I have absolutely no doubts, and here’s why.

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Source: http://www.the-numbers.com/movies/franchise/Star-Wars

First, Star Wars is the second highest grossing film series of all time (“Community Post: The Highest Grossing Movie Franchises.”). The franchise lies just bellow James Bond, and to be fair, there are many more films of the latter than there are of Star Wars. Star Wars, as of 2013, has grossed a total of $9,147,802,760 billion worldwide, while the James Bond series has produced a total of $14,626,911,942 billion (“Community Post: The Highest Grossing Movie Franchises.”). When you really sit down and think about it, those are absolutely absurd numbers for what ultimately is just light from a television screen or projector. That unjustly simplifies cinema, but you see what I mean. The undeniable fact stands that well known films are capable of continuing production and maintaining/increasing their success and popularity. This remains evident even when films fall short. Take the Bond film “Quantum of Solace” as an example: I’m not a movie critic, but I’d bet money that if you ask an avid bond-fan their favorite film in the series, Quantum of Solace wont be their answer. Casino Royale was such a big hit that consumers came back for more, but the numbers say that they weren’t as pleased with Daniel Craig’s second performance. “Quantum of Solace” made 40.1 percent of its total domestic gross from its opening revenue (“‘Casino Royale’ Vs. ‘Quantum of Solace’ Vs. ‘Skyfall'”). Furthermore, its second weekend drop domestically was 60.1 percent, the highest of Craig’s three bond films (“‘Casino Royale’ Vs. ‘Quantum of Solace’ Vs. ‘Skyfall'”). Of Craig’s three performances, “Quantum of Solace” had the lowest worldwide gross, lowest foreign gross, and was in release domestically for only 11 weeks (“‘Casino Royale’ Vs. ‘Quantum of Solace’ Vs. ‘Skyfall'”). While It’s clear that the film may not have met “Bond standards”, it still brought in a lot of revenue.

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Source: http://www.buzzfeed.com/jakel11/the-highest-grossing-movie-franchises

Another significant piece of evidence further supports my prediction that the new Star Wars film will be successful. Some may argue that the very revival of the franchise is due to the success of the contemporary director J.J. Abrams. Abrams received great success with his recent bring-back of the beloved Star Trek series. “Star Trek” brought in a worldwide gross of $385,680,446 million (“‘Star Wars’ Vs. ‘Star Trek'”). Abrams produced not one, but two successful modern Star Trek films. “Star Trek Into Darkness” exceeded Abrams previous film and brought in a worldwide gross of $467,381,584 million (“‘Star Wars’ Vs. ‘Star Trek'”). The very fact that consumers trust and admire Abrams suggests that it’s likely they will return for his project on Star Wars.

Consumers are faithful to beloved series in cinema in the same way that customers are faithful to name brand products. When Oreo comes out with a new cookie, people are curious. Some might not even like Oreos anymore, but they’ll still buy the new product due to the satisfaction they indulged in during their original experience. I am one of those consumers. I will still go see the new Star Wars film even if it turns out to be terrible simply because of my love for the original films.

Works Cited
“‘Casino Royale’ Vs. ‘Quantum of Solace’ Vs. ‘Skyfall'” ‘Casino Royale’ Vs. ‘Quantum of Solace’ Vs. ‘Skyfall’ N.p., n.d. Web. 03 May 2015.
“Community Post: The Highest Grossing Movie Franchises.” BuzzFeed Community. N.p., n.d. Web. 03 May 2015.
“‘Star Wars’ Vs. ‘Star Trek'” ‘Star Wars’ Vs. ‘Star Trek’ N.p., n.d. Web. 03 May 2015.
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