Twitter offers a simple way to forecast movie ticket revenues by analyzing chatter on Twitter.
HP Labs says it has a way to forecast movie ticket sales.
The method is based on the average number of tweets published per hour.
The technique could be used to predict the presidential election.
Can Twitter predict the success of movies at the box office? HP Labs in Palo Alto, Calif., says it's come up with a simple method to forecast movie ticket revenues by analyzing chatter on Twitter.
And they're optimistic they can apply their method to forecast more important events, such as this year's presidential election.
HP Labs used data from 24 movies released in 2009 and 2010, including blockbusters "Avatar" and "Twilight: New Moon." In all, they considered 2.89 million tweets from 1.2 million users.
To get a feeling for how many tweets make for success or failure, consider that "Avatar" averaged more than 1,200 tweets an hour in its pre-release week and generated $77 million its first weekend, "New Moon" had 1,366 tweets an hour and raked in $142 million, while "Transylmania" had the lowest tweet rate at 2.75 and made about $264,000.