Graduation Year

2018

Date of Submission

4-2018

Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts

Department

Economics

Reader 1

Darren Filson

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2018 Desmond Goetomo

Abstract

In the eyes of Hollywood producers, film remakes are popular endeavors to undertake. Part of the logic behind remakes is that they will likely perform successfully in the domestic box office because of the tried-and-tested formula that was the remake’s source material as well as the pre-existing fanbase. In addition, over the past two decades the international box office, particularly countries like China and Russia, are overtaking the United States in generating box office revenue. Hence, with the increasing popularity of producing remakes, as well as the growing significance of foreign markets for the entertainment industry, I test whether the international share of the box office is higher for remakes compared to other types of films. I control for several standard variables including type of film, genre, production budget, critical review score, recency of film, and number of installments in the film franchise. In conclusion, I find that although film remakes do not achieve significantly higher foreign box office shares, factors like sequel films, the horror genre, production budget and critical review scores play a significantly positive role in determining foreign box office share, thus indicating the preferences of foreign film audiences.

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