Spielfilme als Anlageobjekte: Die Höhe des Filmbudgets als Grundlage der Investitionsentscheidung

Abstract

The production of motion pictures requires a large amount of capital and is at the same time a high risk venture. Recently, several low-budget movies have raised attention of audiences and investors alike due to their enormous box-offices grosses. Against a sample of 331 motion pictures released in the United States between 1999 and 2001, this article analyses the complex relationship of movie budget and profitability, taking into account the existence of secondary markets. The results are discussed with regard to different success criteria, modes of budget allocation, and movie genres.