In every industry there are awards, and many times the award gives indications for continuation of repeat performance. If a company wins an award for excellence, then one expects the culture of excellence will continue the next year. Things can change, but there is an expectation.
In the movie industry, the biggest award is the Academy Award, it has instant recognition and we know some people will go to the movie just because it won the award. In the movie industry there are festivals among the big ones are: Cannes Film Festival in France, Sundance Film Festival in Utah and Toronto Film Festival in Toronto. Each of the festivals attracts different crowds including the stars of the films. Part of the festival is to met producers, directors, and people who finance and distribute films from around the world. Apparently, in Toronto one of the very important awards is the People’s Choice Award.
Why is the People’s Choice so coveted? Well, consider that last year’s winner, Peter Farrelly’s Green Book, went on to win the best-picture Oscar, while runner-up Roma from Alfonso Cuarón was a nominee and won for best foreign-language film. Since 2011, every TIFF People’s Choice has been the Academy’s choice for at least a best-picture nomination.
Equally important from an investor point of view is the People’s Film Award tends to make more money at the box office than the other film festivals. Part of the reason is the diverse audience which is encouraged and sees the movies. Diversity can and does make money.
The People’s Choice Award went to Jojo Rabbit, Taika Waititi’s satire of Nazi Germany in which he plays a child’s idea of Adolf Hitler. Runners-up for the prize were Marriage Story and Parasite. Jojo Rabbit is produced by Fox Searchlight Pictures and distributed by Walt Disney; Marriage Story is distributed by Regatta and Parasite is distributed by CJ Entertainment.
Linking to dividend paying stocks, trends are very important in every industry and trying to determine which product has success and which one is not as successful is a very tough business. We all look for short cuts or ideas that seem to suggest success in the future. If the People’s Choice is correct, more money will flow into Walt Disney.
There are more questions than answers, till the next time – to raising questions.