Update #1: Economic Trends and Relationships in Broadway Theater and Movie Musicals

This is the first update post for my Monroe summer research project. My project is split into three main sections: data collection, calculation of summary and inferential statistics, and the final analysis and presentation development phase. I decided to post my first update because I am about to finish the data collection portion of my project. As a reminder, for my research this summer, I am analyzing public data on movie musicals and Broadway musicals to see if there is a relationship or correlation between the two. Does one form of entertainment influence the other? Which one has grown more steadily in the past 17 years, etc? These questions can be answered through exploratory data analysis.

[Read more…]

Abstract: Economic Trends and Relationships in Broadway Theater and Movie Musicals

Musicals represent a growing part of the entertainment industry. This research project consisted of a statistical analysis of Broadway and movie musical growth since 2000 as measured through ticket sales and revenue. Revenue and attendance data were compiled from a variety of online databases. Then linear regression and correlation coefficient analyses were performed on the data. The results highlight the strong growth of both components of the entertainment industry. In particular, it shows a positive correlation between major Broadway hits and the production and revenue growth of movie musicals. The success of the musical Hamilton and the effects it has had with multiple movie musicals provides the most recent example of this industry connection. This project was chosen for two reasons. First, I enjoy musicals and am curious to see if there is any relationship between the different types within the entertainment industry. Second, I am interested in a data science major or minor and would like to investigate and practice some basic data analysis skills and techniques such as database development, using a range of statistical analyses.