THE IMPACT OF GLOBALIZATION TO CREATIVE INDUSTRIES: THE ANALYSIS OF FILM INDUSTRIES OF CENTRAL AND EASTERN EUROPE

This paper explores changes of the political, legal, taxation and other circumstances in film industries of Central and Eastern Europe that kick-started qualitative changes over the last decade. Research conducted by European Union (EU) on European film industry suggests that in terms of film industry Central and Eastern Europe region at this stage is generally non-competitive and not commercially orientated. We argue that the region filmmakers systematic believe in concept that film art and film business is a combination of polar opposites is a key reason that holds back industry’s potential to make a considerable economical and cultural contribution to national prosperity. First published online: 18 Dec 201

How Long to Squeeze the Creative Juice? An Empirical Study of the Impact of Movie Production Timing on Financial Performance

We empirically examine the financial impact of production duration in a multi-stage production process for creative products. In particular, we analyze a novel data set from the movie industry to shed light on how the total production time and duration of individual stages affects box office revenues. We find that total production time is negatively associated with box office revenues. In particular, 1% additional total production delay may lower box office revenues by approximately 0.94% on average. In terms of the individual production stages, the duration of the post-production and distribution phases are critical, since both are negatively associated with box office revenues. Our study can help studios better understand how to prioritize production planning and minimize the negative impacts of production delays