HAVE YOU READ THAT BOOK? NO, BUT I’VE SEEN THE FILM: AN EVENT STUDY ON THE IMPACT OF FILM RELEASES

Michela Ponzo (), Vincenzo Scoppa () and Idola Francesca Spanò ()
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Michela Ponzo: Department of Economics, Statistics and Finance 'Giovanni Anania', University of Calabria, Rende (Italy)
Idola Francesca Spanò: Department of Economics, Statistics and Finance 'Giovanni Anania', University of Calabria, Rende (Italy)

No 202501, Working Papers from Università della Calabria, Dipartimento di Economia, Statistica e Finanza "Giovanni Anania" - DESF

Abstract: Films are often adaptations of novels. Using weekly bestseller list data spanning 50 years (1975–2024) and leveraging the panel structure of the data at the book-week level, we implement an Event Study Design to evaluate the impact of a film’s release on a book’s probability of entering the bestseller list after the release. After controlling for book’s and author’s characteristics, as well as time fixed effects, we find that film releases have an initial positive impact on book sales, followed by a later negative effect. Specifically, immediately after a film’s release, the probability of a book appearing on the bestseller list increases by approximately 15 percentage points. This effect is likely driven by heightened media attention and a coordination mechanism among readers. However, despite the short-term positive impact, a negative effect emerges around six months after the release, potentially because films serve as substitutes, leading some consumers to watch the film instead of reading the book.

Keywords: Book Sales; Limited Attention; Salience; Event Study Design; Cultural Economics; Behavioral Economics (search for similar items in EconPapers)
JEL-codes: D12 D91 L82 M30 Z11 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2025-10
New Economics Papers: this item is included in nep-cul and nep-his
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http://www.ecostat.unical.it/RePEc/WorkingPapers/WP01_2025.pdf First version, 2025-10 (application/pdf)

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