According to a recent article in PR Newswire, the global big data analytics market is expected to grow at “a CAGR rate of 29.7% to $40.6 Billion by 2023”.

This is a massive growth rate that is almost unmatched by any other industry. To put it in perspective, the software development industry, which is America’s leading driver of growth, is only growing at GAGR rate of 10%.

This means that big data analytics has massive potential, both for private big data analytics companies and the industry clients that they serve.

One industry that this massive growth rate is predicted to affect is the movie industry.

Already, Hollywood is implementing big data analytics into all of its movies in order to help refine their productions and to allow them to improve their marketing strategies.

However, big data movie making isn’t simply restricted to the major studios.

Already, companies like Largo are striving to bring big data analytics to productions of all sizes, including short movie makers.

In this article, we are going to explain why Largo is the best option for your movie, regardless of its  production size.

What is Largo?

Largo is a specialist data driven moviemaking company that aims to bring big data analytics to film makers everywhere.

Based in Lausanne, Switzerland, Largo is the brainchild of a group of passionate film makers and AI big data analytics specialists.

Our company has partnered with EPFL, one of the world’s leading research and development universities, in order to create innovative new software solutions.

Aside from creating Sofy.tv, the worlds première short film video on demand platform, we at Largo have also developed a set of sophisticated algorithms to power our brand new artificial intelligence software Largo AI.

LargoAI: The Next Generation Artificial Intelligence For Film Making

LargoAI is the product of years of hard work and nearly 5,000 lines of computer code.

In essence, LargoAI is a powerful data-driven artificial intelligence program that can be introduced very early in the production cycle of film.

Artificial Intelligence

Astoundingly, it can be implemented as early as the script phase and can be used throughout the production, all the way through filming, post-production and the theatrical release to make improvements to the movie.

This powerful new technology helps to empower production companies with data-enhanced ROI uplift while massively reducing financial risk.

Letting The Results Speak For Themselves

LargoAI accurately predicted the final gross for the Sony Pictures film “Venom”. It predicted that the movie would gross $201 million when it went on to gross $213 million.

This is a phenomenally accurate prediction considering the vast range of variables that can affect a movie release. Keep in mind that variables as remote as the weather over the opening weekend can massively affect audience figures.

In fact, it was one of these variables that proved just how accurate Largo AI really is.

It predicted that the Italian independent movie “Domani e Un Altro Giorno” would gross between 1.6 and 3.9 million Euros. Despite a completely unpredictable downturn in the Italian box office market in early 2019, the film actually grossed 1.7 million euros, which was within LargoAI’s prediction.

This case study proves the validity of Largo’s big data analytics software. In spite of unforeseen factors like the weather, it is able to accurately predict any films gross within a very small margin.

Unfortunately, not all movies make money. When the LargoAI analyzed the movie “Roman J Israel Esq”, it determined that it would be a box office failure.

LargoAI predicted a loss in the range of $9 to $43 million.

The film was to record an actual loss of $11,000,000 at the box office. This was significant given that the film cost 22,000,000 to produce and therefore represented half of the capital investment.

Given the extreme degree of accuracy that LargoAI is able to achieve, it has proven itself as a important tool for film makers of all production sizes with which to budget their movies.

Since this can be done even at the script phase, it allows moviemakers to minimize the risk of loss and therefore damage to their reputation which might hinder future productions.

Predicting Audience Reaction To a High Degree Of Accuracy

Largo has achieved a 82% degree of accuracy for greenlighting projects from the script.

When analyzing the scripts of 50 different US releases over the last 3 years, LargoAI was able to predict which ones would be commercially successful.

Consequently, it is a powerful tool that allows film producers and production companies to intelligently green light projects that they know will succeed.

To date, LargoAI has analyzed more than 12,000 films and proven accurate in predicting total gross revenue of each one.

With the possible gross range revenue of 3 intervals, LargoAI has been able to accurately predict gross to a degree of 86%.

data-prediction

With a far more complex range of 9 intervals, it still managed to achieve an industry beating 70% cross validated accuracy. For more information on this, please visit our Case Studies page via this link.

The main reason that any film production should choose Largo is simply be cause it works.

We have already attracted attention from many producers, simply because of the reason that we are able to deliver on our promises.

Our sophisticated data analytics software was designed by leading industry experts and is therefore able to deliver where other companies simply cant.

If you wish to see a demonstration of exactly what we can do to help your production, contact us today.