Andrea Basile
Mr. Rueter
Economics
24 March 2016
The first Star Wars came out in May 1977, completely transforming movie making with it’s incredible special effects. Although the special effects are not considered that “special” today, during the 1970’s this movie amazed critics, for the computer was not completely developed yet to produce such effects. From seeing flying aircrafts to mysterious creatures, everyone was purchasing tickets to see the movie that challenged producers to reach farther. Millions have continued to watch the worldwide classic, therefore it came as no surprise that when the next chapter was released 38 years later, the demand to see the movie was at an all time high. Star Wars: The Force Awakens was produced by Lucasfilms and Bad Robot Productions and was distributed worldwide by Disney Studios Motion Pictures. After 20 days, it surpassed Avatar’s $760.5 million record and made $764.4 million box office sales, making it the highest grossing film in North America. 
The film broke numerous records, including “biggest domestic opening ($247.9 million), biggest global debut ($529 million), fastest film to reach $100 million (24 hours)” (Chan). As seen in the figure above, it made $529 million opening weekend. While some of the money generated went to the theaters, most of it returned back to the companies that produced it. This constant money circulation helps stimulate the economy because it is a never ending cycle--the company makes a movie, the consumers buy tickets to see the movie, the money goes back to the producers and so on. Overall, it will be interesting to see if the next Star Wars movie will do as well as the Force Awakens.
Works
Mendleson, Scott. "'Star Wars: The Force Awakens' Box Office: $825M In 4 Weeks, $1.792B Worldwide." Forbes. Forbes Magazine, 15 Jan. 2016. Web. 24 May 2016.
Chan, Melissa. "All the Records 'Star Wars: The Force Awakens' Has (And Hasn't) Broken." Time. Time, 7 Jan. 2016. Web. 24 May 2016.
Good topic, everyone likes Star Wars and if they don't they haven't watched it yet. I think that the next Star Wars movie will do just as well, especially since the franchise has grown so much from past generations spreading the information and culture to their children and getting them intrigued.
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ReplyDeleteReally good topic. Star War's is definitely a popular movie worldwide bringing in lots of money from not only the movie itself, but other merchandise that relates to it. I liked how you made the connection between the Star War's movie and how it can improve our economy. Nice job Andi.
ReplyDeleteAs was expected, Star Wars was a huge film franchise that I expected all of these numbers from. While I did know it was the highest grossing movie ever, I did not know it was the fastest film to reach $100m. Part of that fast pace might be inflation over the years causing movies to cost more making it easier to reach $100m.
ReplyDeleteAll of the now 7 Star Wars movies have been amazing. It is no surprise that they have made so much. Star Wars has fans of all ages. Even though the first 6 movies came out years ago, there are still many people who buy them. The recent release of the new Star Wars, has increased purchases of the old movies as well. It's amazing how much money that movies can bring into the economy, and how much money is put into the movies these days.
ReplyDeleteExcellent topic to write about because most people have seen at least one star wars movie or know enough about the franchise to understand. I can only imagine how much money this movie brings in not only for the movies but along with other merchandise. As the movies continue to get made they will only bring in more and more money only improving the economy. Nice piece. Very well written.
ReplyDeleteI would be curious to know what the profit continues to bring in as people buy the DVD or stream it on Demand and such. Its also clear to see by you graph the impact the movie had globally. Since they set the standards so high I'm interested to know when if ever a movie will do as well as it did on opening day. This movie defiantly helped our GDP not only with the movie, snacks, and other movie related things but the sales of merchandise or Products in places like Disney land/world.
ReplyDeleteThis was interesting because I never really thought about how money circulates through the movie business and even effects the economy elsewhere. I'm curious to see how the ability to watch new movies from home in the future will effect movie theaters negatively, possibly even shutting them down maybe.
ReplyDeleteI didn't actually watch this until like a week ago, but after seeing it, I can understand how it brings in so much money. Not only was the movie itself good, but the hype alone was enough to draw in a huge number of fans. I can only imagine the race to get opening day tickets considering how much demand there was.
ReplyDeleteWith the amount of advertising that went into the Star Wars movie it's no surprise that it sold that well globally. It benefited from children who are going to be interested in anything bright and flashy and Star Wars is certainly both. However it also benefited from the kids parent who might have a vested interested in the story. So the parents would go see this movie with there kids and I'm sure they will see the next one as hype builds the same way it build before this movie. Disney certainly has a license to print money both domestically and internationally for years to come.
ReplyDeleteMovies like this are always great, not just to watch but for the economy as well. People never realize how good movies, and sporting events, and other things that cost a lot of money are actually pretty important to the economy and it’s growth. Without this money circulation there would be a big problems, because it means people aren't spending their money and instead just sitting at home watching TV.
ReplyDeleteI'm not surprised that such a filmed broke the records it did. Star Wars has been a huge franchise favorite for generations. From adults who were teens when the franchise first debuted to people who are currently teens and adore Star Wars. Contrarily, I would have been surprised if Star Wars didn't do as well as it did.
ReplyDeleteIt’s not completely surprising that so much money was made from Star Wars, but it’s still amazing. All the money that goes into making movies and the money that is made from them must have a large impact on the economy. And if the demand for other movies would be as high as the demand for Star Wars, this would probably cause the movie making industry to have an even greater impact on the economy. It would be interesting to compare the revenue that was made from the most recent Star Wars to the first Star Wars.
ReplyDeleteThis was a good topic to write about, as it's very popular in the modern day now as well. I never thought how just a simple movie series could have such drastic numbers. But when you mentioned the force awakens breaking three incredible records in the film industry on opening weekend, it made me think even harder on how Star Wars affects the economy. Overall, this was a well written piece that caught my attention.
ReplyDeleteIt is a very good idea that you started out with. Star Wars is extremely well-known nowadays. It would have been better though if you had a bit more detail about the franchise and about it's impact economically.
ReplyDeleteThe series of Star Wars generates a lot pf publicity so it's no surprise that the amount of revenue is as high as it is. Was it is surprising is that it plays such a significant role in the economy. Generally when you think of how we get as much money in the economy you think of taxes or cuts on spending, but in this case, a movie? Weird, but true as so many fans are eager to see the premiere months in advanced.
ReplyDeleteBig movies and sporting events are excellent for the economy. They not only raise the happiness of the populous but they also generate a large revenue for the state and by extension the government. Star Wars and other large movie series generate a large amount of money due to their cult following and usually excellent story. (excluding the Star Wars prequels)
ReplyDeleteHaving the movie series be as popular as it is, it's no surprise that Star Wars would generate this much into its hands. Because the last movie hadn't been out for about 10 years, of course people would be eager to view the film. I was surprised to hear that Star Wars broke three film records in just the opening weekend really proves how much the film truly affects the economy. Well written work and I am a proud friend mija.
ReplyDeleteThis is a great topic to talk about, not just because its star wars but how much like movies and sporting events bring in to our economy and help it move and grow. People don't realize that movies bring in a lot of money and especially when its star wars and they break a ton of records and its franchise started when our parents were just teenagers and now even us teens now are in-love with star wars. It just shows that big movies like stars wars are a must in our society because without it we wouldn't have the economy like we do today.
ReplyDeleteI'd like to know its profits from other movies compared to the force awakens, since it's been less than 38 years since the last Star Wars movie, actually 2005 was the last prequel movie and I heard those did poorly at the box office. It's amazing as a fellow Star Wars fanboy that it did better than Avatar in about 20 days
ReplyDeleteLiving in the US it's easy to see how our culture respects the Star Wars movie franchise but after looking at the number of sales made world wide shows that this isn't a domestic phenomena. With this large audience it's very easy for both the various theater companies and the movie producers, Disney, to make a large profit off of one movie and if you factor in how many other movies are produced per year it is even easier to see as to why theaters play a pivotal role in the economy.
ReplyDeletePersonally I do not like Star Wars, I was forced to watch part of one one time and got super bored. I can definately see how it would be popular back in the day when technology was just blooming but gorwing up in a time where more advanced technology was expected the movie lost it's appeal. Plus being the girl I am I do not like those kind of action movies with weird creatures to begin with. So personally to me I don't get how it was one of the most popular movie series ever. But good writing my Mexican flower.
ReplyDelete-Carson Cotterell
It'll be interesting to see if the next two Star Wars movies will surpass this record. Like you said, the money circulates back to the producers so they can spend more money on more elaborate movies and captivate another audience in the future. I would contribute their large profit to their ability to lure the consumers into theaters from a large marketing campaign. Although this costs money, it is in the producers favor to spend millions to get even more in return.
ReplyDeleteI liked the topic choice because it is applicable to many age groups considering the long time spent in between each film release dates. It doesn’t surprise me that Star Wars holds a lot of the records for how much revenue it is generating. I thought you provided some quality facts about how much money it generated and how fast the money was generated. I also liked how at the end you included information about how these blockbuster movies have an impact on the economy and how they create money circulation and keep economies healthy. Overall, I thought it was a quality topic and well written, so good job.
ReplyDeleteIt's not surprising that the movie and the franchise in general make a lot of money, Star Wars is probably one of the most known movies ever. Most people if you ask them who Darth Vader or Luke Skywalker is, they most likely have heard the name before. Almost everything Star Wars related brings in a lot of money because it is such a well known franchise with many fans.
ReplyDeleteI liked the topic choice because it is applicable to many age groups considering the long time spent in between each film release dates. It doesn’t surprise me that Star Wars holds a lot of the records for how much revenue it is generating. I thought you provided some quality facts about how much money it generated and how fast the money was generated. I also liked how at the end you included information about how these blockbuster movies have an impact on the economy and how they create money circulation and keep economies healthy. Overall, I thought it was a quality topic and well written, so good job.
ReplyDeleteStar wars is loved by many different age groups all over the world. It appeals to almost everyone. I'm not surprised that it made lots of money. I'm curious to see how much money the next movie will make. I could see why the special effects aren't considered that special anymore because of how much technology has advanced in the movie field within the last couple of years. I wonder what type of special effects will be in the next movie.
ReplyDelete-Kristie
This was a very good topic because of how well known Star Wars is. This post was very interesting and I didn't realize how many records Star Wars has. To improve on your topic, you could have connected the picture more to your post. As well as that, you could have included how Disney bought out Star Wars, increasing the money circulation even more. Overall, this was a very well written post and you connected it to economics very well.
ReplyDeleteGreat facts! I know when I came out I had to see it they could have increased the price to see the movie in theaters and people would still have gone. It was such a great event, people dressed up, brought toys, and made a lot of Star Wars references. During this time in America the Demand for Star Wars was high.They started making action figures and toy company's made a great income. Even now the demand for Star Wars has gone down and they was released just a couple of months ago. There were shortages of seats and tickets because the demand for the movie was so high. Great topic and statistics.
ReplyDeleteI think that when it comes the the new chapter, the demand was inelastic, therefore, many people spent money on this movie. I believe that this influenced the spending multiplier and made it larger, which made the circulation of money greater than other movies. I think it's interesting how demand can affect spending vs. saving. For this movie, it definitely increased spending which is how the movie broke so many records! Great topic!
ReplyDeleteWith the Star Wars movies, there has always been a huge fan base, and since the lifespan of the series stretches over generations Grand-Parents, parents, and children are all excited and hyped about the new movie. It's almost like it was planned out for there to be a huge break. The next movie will be even more hyped and get everyone even more excited. I can guarantee that the first week sales of the next movie will be higher than this one, just people people will immediately assume it’ll be better. Maybe it will be, but if it falls short, it could destroy any chances for future movies. On a different note, It’s very interesting to see that the first Star Wars movie was so huge due to it’s special effects, and the movie Avatar was huge for the same reason. In any case, Star Wars will always be huge, and will probably continue to come out with more movies until our children have children, it has such a large effect on our childhoods for it not to be.
ReplyDeleteThis movie gradually became a must-see, if you had watched the previous ones or not. Star Wars endures as one of the best selling franchises ever made, and with a new set of movies coming out for new generations, it also allows interest in the old properties to come out once more. In addition to the film being excellent, the brand name itself promoted the film before it had even been released, and it undoubtedly set the stage for an incredibly anticipated sequel that might even break the numbers for Force Awakens.
ReplyDeleteIf there is another Star Wars movie that comes out, I think it will do better than it did for Star Wars Force Awakens. There will always be people spending money on tickets to watch a movie that made its mark in history. With all the purchases of tickets will increase the GDP and keep the money of circulation going for a while because even if ticket prices were to rise, people will still pay to watch Star Wars
ReplyDeleteI really liked your article! I have never seen Star Wars but I would like to see it if I have the chance. You did a good job relating this topic to economics and it was very relevant to today. It is amazing that this movie generated that much revenue. If every movie was like this, imagine how much revenue would be created. I predict that if another Star Wars movie comes out, it won’t generate as much money as The Force Awakens did because the time in between the last movie’s release wouldn’t have been as long as it was before. I liked how you related this to money in circulation that helps the economy overall. Great article!
ReplyDeleteStar Wars is a very popular movie series for all ages. Many parents as well as their young children and teenagers all enjoy the Star Wars movies and the memorabilia that go along with it. Knowing that this movie series is very popular it doesn't surprise me that the movies brought in so much revenue between the movies and merchandise for the movie. I believe when the next movies come out they will bring in an even greater revenue due to the popularity.
ReplyDeleteThis was a very insightful blog post. I myself love Star Wars and have seen every single Star Wars movie, including the new one. You related this to economics very well and your word choice amplified that very well. Overall, great job on this post!
ReplyDeleteOverall, American films tend to do much better internationally, sometimes even better than the domestic films of the countries in which they're shown. It was no surprise that the new Star Wars would be so successful as it is a global brand and phenomenon. And with Star Wars movies coming out consistently for at least the next 4 years, Hollywood will be bringing in a lot of global revenue.
ReplyDeleteI really think that people didn't appreciate how much of an impact that the first star wars had on the future of movie productions to help what it has become today. Although the newest star wars did break a lot of record I think that it will eventually get broken in the future. Overall I think that without star wars the economy would be very different especially because of how the movie industry has changed because of it.
ReplyDeleteGreat job on the post! I don't know much about Star Wars and originally didn't know how much of an impact Star wars had on the economy. But you did a fantastic job getting the point across about how much impact they have on the different industries including the theaters themselves. Overall great job.
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