International Perspectives on Business Innovation and Disruption in the Creative Industries
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International Perspectives on Business Innovation and Disruption in the Creative Industries

Film, Video and Photography

Edited by Robert DeFillippi and Patrik Wikström

This volume examines how disruptive innovations are reshaping industry boundaries and challenging conventional business models and practices in the industries for film, video and photography. The thirteen chapters provide a rich and diverse account of these processes from a wide range of country contexts. The book fills the gap between the study of disruption by innovation scholars in business schools and the recognition of disruption by academics and practitioners from non-business school disciplines and contexts, including the broader social sciences.
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Chapter 11: Using ‘crowd-wisdom strategy’ to co-create market value: proof-of-concept from the movie industry

Nadine Escoffier and Bill McKelvey


New product development is a hit-or-miss bet, especially for movies. One way to reduce this risk is what we call the ‘sequel strategy’. But as with originals, market success for sequels is difficult to predict. So, how to create a successful original movie in the first place? Increasingly, companies use crowd-wisdom to help them evaluate and generate new ideas. We call this ‘crowd-wisdom strategy’. Based on real examples, we first construct a business model. Then, focusing on idea-evaluation, we provide proof-of-concept that the Crowd has the ability to accurately evaluate movies’ market value before they come to market.

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