Effects of Award Competitions on Market Competition in the Motion Picture Industry

This study focuses on the role of award competitions in shaping market competition in the media industry. The basic premise is that there exists no uniform relationship between winning media awards and market performance. Instead, the effects of award competitions can be moderated by prize and jury characteristics, product characteristics, customer characteristics, and the (anticipation) strategy of the firm. In our empirical work, we focus on the Hollywood Motion Picture industry. Our results show that there are indeed important moderators that affect the effect of the awards. This study has among other things implications for media and communication managers that want to understand the strategic implications of award competitions.