“The Business” radio show on KCRW offers an interesting inside look at futures markets (you know…pork bellies, heating oil, uranium), and the new opportunities coming soon to buy futures in popular entertainment receipts — more specifically, the movies. The proposed Cantor Exchange, seeking approval from the Commodity Futures Trading Commission for a possible launch in April, would let traders ‘bet’ on the domestic box office receipts of an upcoming movie, and buy or sell those bets (contracts, to be specific) with other traders.
Beyond the fun and profit, the proposed exchange also claims to provide an innovative new way to increase financing support for film production. Of course, the Motion Picture Association of America doesn’t see that benefit, and is lobbying to block the new exchange. They claim the initiative would tarnish the reputation and integrity of the movie industry.
If you’re particularly gifted at guessing domestic box office receipts for major films, it might be time to start saving those pennies to enter the market.
NOTE: Futures conversation begins about six minutes in.
I remember Hollywood Stock Exchange from like 10 years ago–but it was just for fun. I looked it up and surprisingly it’s still around–http://www.hsx.com/. I’m not sure that I would want to play with real money tho…
I found the regular printing of the gross dollar takings of every movie printed weekly…well, sort of gross. What happens when this is how the arts get measured in value, before critics, time, and history make their mark? I find this dreadful. But perhaps what 90% of American movies deserve given that they don’t even get made for the most part before market considerations are given full due. This is art?
This is really great
I remember Hollywood Stock Exchange from like 10 years ago–but it was just for fun. I looked it up and surprisingly it’s still around.
Too bad this wasn’t around when ‘Speed Racer’ came out. I could have made a fortune short-selling those shares.
I found the regular printing of the gross dollar takings of every movie printed weekly…well, sort of gross. What happens when this is how the arts get measured in value, before critics, time, and history make their mark? I find this dreadful. But perhaps what 90% of American movies deserve given that they don’t even get made for the most part before market considerations are given full due. This is art?
lafel yani