Are the Golden Globes Good for Business?
Superficially, entertainment is the domain of stars and starlets, bitter critics, and raving fans. The Hollywood elite can’t be mentioned without italics, in speech or text, and every year when the film-awards season drowns out the sound of real news, business men and women turn their heads, look at their watches, and wait for fourth-quarter earnings.
But you don’t get to be a big star without the backing of big business. It takes media and marketing to make a celebrity, it takes brand and capital to launch a movie, and it takes a return on investment to keep the whole machine turning. (It also presumably takes talent and hard work, but that’s for the Hollywood Foreign Press Association to hash out.)
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That return on investment will only come if companies can keep generating revenue. The logic behind marketing and advertising in the movie business is obvious to that degree: convince more people to watch your film, make more money, stay in business, and everyone’s happy. In this way, movies are like products designed to sell, and a Golden Globe nomination is like getting a five-star review from a highly-followed third-party. Just appearing on the nominee list can turn an unheard-of Indie flick into a revenue machine, or turn sluggish sales for a big-budget movie around.
So, which major media companies got lucrative Golden Globe nods? We won’t bore you with the full list of nominations, but here’s a breakdown that gives the Globes relevance to the average investor…