Ever ask someone how they liked a particular movie and they say, “It was OK”? It seems Hollywood puts out a lot of “OK” movies. But sometimes, a great movie comes along that endears to the masses and smashes the box office. The movie industry understands that one truly great thing is worth more than 50 OK things.
Being truly great increases your value and your revenue. Consider that from 1995 to 2009, the average gross for contemporary fiction movies (which comprises 50.14 percent of the market share) was $2.7 million. Multiply that by 50 and you get $1.4 billion.
“Titanic” has earned $1.8 billion worldwide, making it one of the top-grossing movies of all time. One great movie that grossed more than 50 “OK” movies — the difference in costs to make one movie (even with a large budget) versus the cost to produce 50 movies coupled with the immense popularity of a valuable product dramatically increases profit. The margin would be even greater if the top 10 grossing movies from 1995 to 2009 were removed from the average gross figure.
What’s more, the net worth of those involved with the great movie, or product, increases for future sales. Case in point — though already an accomplished actor, Kate Winslet’s commercial value increased after her ground-breaking role in “Titanic.”
Focus on making one great product, and marketing that one great product, and you’ll make more than if you sell 50 OK products. Your ad revenue won’t be diluted, and you’ll gain credibility and future sales.Image used under Creative Commons license from Flickr.