Machine Learning prediction for Bollywood's hit or flop movie?
In 2019, around 100+ Hindi movies were released across the globe and with the total net collection of Rs. Net: 4372.44 Cr in India and 7099.06 Cr worldwide, one can imagine how big is the Bollywood movie market?
The recent competitive topography of the movie market is changing its shape very rapidly with the massive surge in the growth of channel distributions, copyrights, and promotions. The dynamics of the visual platforms are also changing with the induction of Netflix and amazon prime as these platforms provide solid critical content to the spectators. Almost all big actors are bringing their own creativity on these online streaming, which is proven to be a beneficial economic model from the profitability aspect as well. In addition to that, due to the strict privacy policies, the unlawful practice of visual content has also been reduced by a fair margin. Recently, the popularity of machine learning and deep learning has raised heavily. It is to be believed that machine learning can actually predict which movie projects may do better in terms of the revenue in the box office based on the dependency parameters such as the allocated budget of the movie, performing actors, distribution, and promotional events. With the use of supervised learning(maybe unsupervised learning), or by developing a strong new machine learning or deep learning model, it is possible to predict with decent accuracy on which project should get a positive go ahead node or which movie project has to be rejected. This surely will help to evaluate each and every project before even start, and eventually will reduce the funding risk. The deserving scripts, actors, directors and other technicians shall be benefited immensely. Hence, the incorporation of machine learning and deep learning in the probable revenue prediction of movies will eradicate the guesswork done by so-called producers and directors. The probable reaction of the spectators based on a new story shall be much more definitive. The big movie production house in Hollywood, such as 20th Century Fox, has already made a progress with Google’s Advanced Solutions Lab in this regard. However, the question remains which machine learning or deep learning algorithm needs to be chosen or to be developed? well, that depends on highly experienced machine leaning experts. Moreover, financial, and other related data sets should also be made available.
~AISAVVY,2020.
~AISAVVY,2020.
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