The need for movie professionals to gain access to accurate movie gross predictions as well as other insights is greater than ever.

Though the U.S and other movie producing countries have had some manifestation of the studio system since the very early days of film, in the last few decades, the system has undergone a radical change making it harder than ever for movies of all sizes to succeed.

Let’s take the example of the ‘Big Six’ studios in Hollywood, which only came into being in the early 1990s. These studios now dominate the market with an 80 – 85% share, according to the Maya Academy of Advanced Cinematics. This fact means that small and medium budget productions are often squeezed out of the market altogether.

The problem is simply that movie companies are under ever-increasing pressure to make money.

Even the biggest corporations must record ever-increasing profits every year if they are to survive. As such, even the biggest studios in the world, who’s collective profits total hundreds of billions of dollars every year, are at the mercy of one single factor – profit.

History has shown, if your movie doesn’t make a profit, you are not around for very long. So, in order to try to ensure bigger profits.

This simple equation affects even the smallest movie productions and highlights the need for advanced gross predictions before companies decide on which movies to make and how much to budget for them.

Finally, the future has arrived.

Up steps data-assisted moviemaking which can accurately predict a movie project’s potential earnings from as early as the script phase.

To demonstrate the power and accuracy of the exciting new technology of data-assisted moviemaking, we at Largo are going to publish our predictions.

Largo Predictions February 2020

In order to continually improve the accuracy of Largo’s artificial intelligence software, we continually ask it to analyze U.S films that are scheduled for an upcoming release.

This information is then added to the vast database of movies from the past 20 years that LargoAI has already analyzed. The more data that Largo collects, the more accurate our predictions will be.

largoAI
LargoAI

Note: We do not publish any information that our clients have engaged our services for. The information below is from our own inhouse analysis relating to the accuracy improvements to our models mentioned above.

LargoAI currently analyzes movies on a range of criteria that include multiple data points based on metadata, trends, and the main “ingredients” of movie content.

With these datasets, we are able to increasingly train and validate LargoAI and its machine learning model. Currently, Largo offers gross predictions for the opening weekend, by region, for any given movie.

Here are the results for this month’s “Wide Releases” (3000 screens+ in the continental United States).

The Gentlemen

The Gentlemen

Release date: January 24th, 2020

LargoAI predicted a first weekend range of $8.5 to USD 16 million, with a best guess of $10.6 million.

Actual first weekend revenue: $10.6 million.

Sonic the Hedgehog
Sonic the Hedgehog

Sonic the Hedgehog

Release date: February 14th, 2020

LargoAI predicted a first weekend range of $33.6 to $58.2 million, with a best guess of $37.2 million.

Actual first weekend revenue: $57 million

Birds of Prey
Birds of Prey

Birds of Prey

Release date: February 7th, 2020

Largo AI’s best guess: $30 million

Actual first weekend revenue: $33 million

For limited releases – less than 100 screens in the US

Color Out of Space
Color Out of Space

Color Out of Space

Release date: January 24th, 2020

LargoAI predicted first weekend range of $211k to $562k, with a best guess of $448k

Actual revenue: $216k.

The Assistant
The Assistant

The Assistant

Release date: January 31st, 2020

LargoAI predicted a range of $48k to $140k, with a best guess of $77k

Actual first weekend revenue: $79k

Come to Daddy
Come to Daddy

Come to Daddy

Release date: February 7th, 2020

Best guess: $61k

Actual gross: $61k

It is immediately apparent just how accurate these predictions are and how they can empower moviemakers all over the world with the information they need to succeed.

With accurate gross predictions, movie producers can accurately budget their productions so that they are almost guaranteed to make a profit.

We at Largo believe that this eventuality will address the unfair imbalance in the global movie industry and lead to a healthier movie industry all-round, something which will benefit both movie lovers as well as the artists themselves.

Largo’s New SaaS Platform Is GO!!!!

February marked the official launch of the Largo SaaS platform.

This platform aims to put the power of data assisted moviemaking into the hands of filmmakers everywhere.

Even the least computer-savvy people can sign up and subscribe to a monthly plan and get a rapid analysis about their movie project!

There are a variety of different monthly subscription plans available, depending on your needs and number of analyses required. Simply choose the best one for you and then you will be ready to go.

Customers can use the platform at different stages of the production cycle, starting right after their script is ready. They simply need to upload either their script or video and let Largo do the rest.

Once this process is complete within a few minutes, Largo’s SaaS platform provides a detailed and accurate breakdown of the following:

  • Gross forecast for the movie by region.
  • A movie “recipe” or breakdown of the movie based on genre.
  • US age rating for each scene.
  • The “genome” of the movie. (I.e. a list of descriptive words which allow us to understand what the movie is about (i.e. genes could be any number of 700 including “family relationship”, “war”, “civil rights”, “literary adaptation”, “supernatural” etc.).
  • A list of similar films, based on the genre, age rating, and genome.
  • A list of matching actors/actresses for the characters, based on the genre, rating and genome.

Finally, the platform generates detailed but easy to understand reports so that the user can best understand the results. Largo’s SaaS platform also provides a comprehensive workflow that can be used to manage all stages of the production from pre-production, right the way through to distribution.

The platform is aimed to be a useful tool that moviemakers can use to help them understand what their audience will think of the final product.

As Largo’s CEO Sami Arpa has stated, “the platform allows its users to create a full-fledged predictive analysis of their scripts and movie projects within a couple of minutes”.

For more information, visit Largo.ai’s website via this link.