The Capitalization of Diversity within the Film Industry

Abstract

Diversity within the film industry is growing in popularity both from a social and economic standpoint. More studios are willing to invest in implementing diversity in film through both the crew and cast. Still, the diversity that is added into film is not always genuine and valued—sometimes it is added for financial incentives. This study aims to determine which genre of film has the least financial incentive for including diversity. The study employs a meta-analysis methodology combined with a survey component. Across the action, drama, horror, and comedy genres, the study will compare quantitative financial metrics against qualitative audience response metrics to answer which genre of film adds valued diversity as opposed to using it as a marketing tool. Within the context of the study, diversity in film is defined as passing two of seven chosen diversity tests, which are acknowledged by multiple publications as legitimate. Data sets of box office revenue, total tickets sold, and dollars spent per ticket are compared to generate a financial perspective. Additionally, data sets of share of voice and a Likert scale survey are compared to generate a general audience perspective. The results of the study yielded the horror genre as having the least financial incentive to include diversity in film. As a result of modern, diverse horror being valued by audiences while spending significantly less on average to market and produce the films, compared to its non-diverse counterpart, a thematic shift within the horror genre may occur within the upcoming decade.