The Wizarding World and its Influence on Muggle Culture

Lian Arzbecker

The Harry Potter films and books have been a huge success for over a decade and a half, ever since the first novel was published 1997. Just two short years later, Warner Bros. bought the filmmaking rights and three of the total eight movies became the top grossing—most profitable—film of their year of release: Harry Potter and the Philosopher’s Stone, 2001; Harry Potter and the Goblet of Fire, 2005; Harry Potter and the Deathly Hallows—Part 2, 2011 (Box). Additionally, the books have amounted to an estimated 450 million dollars in sales worldwide. A big factor towards Harry Potter’s success is due to the fact that while it is a public good with shared consumption, it also exercises exclusion. Thus, a virtually unlimited amount of consumers can purchase the product, given they are willing to pay the money.

Although there is no way to prove that each of the some 450 million copies were actually read—moreover, some people may have illegally possessed the text, or lent their book to a friend—it is safe to say that Harry Potter had, and continues to have, a massive influence on today’s culture. Therefore, it unavoidably leads to negative externalities—fanatical fans who believe it to be real, peer pressure to read the books and see the movies—yet the positive effects far outweigh the bad. For example, leisure reading has increased in children because 51% say they did not read for fun before discovering the series (Garlick). These millions of Harry Potter books—hardback, paperback, and translations—have been sold throughout planet Earth and are available in over 65 languages, being purchased in nearly 200 territories (Garlick). The universality of this fantasy world builds a sense of community among fellow followers of the series, which is another positive externality.

The most profitable of the films is the final installment, both during opening weekend and in total grosses. Interestingly, Harry Potter and the Half Blood Price is ranked seventh among its counterparts for its opening weekend; however, it lies in third places in terms of total grosses. These conflicting pieces of data show a general trend toward gaining popularity as time wore on.

Numerous students have decided that reading and watching Harry Potter is worth the opportunity cost of doing essentially anything else with their time.Many deprive themselves of valuable sleep to finish the novel, while others sacrifice studying time. Some even become social hermits until the last word has been read. Adding to the incredible popularity of the novels and films, games and attractions have additionally helped the Harry Potter franchise grow in value. It is estimated that the total sales of all seven books, eight movies, and toys are $24,751,000,000 (Total). However, there has been some argument over the appropriateness of calling Harry Potter a “franchise” because by definition, a franchise is the authorization to sell a certain group’s goods and use their ideas; despite the fact that all the merchandise associated with this series is extremely profitable, it has always been one grand story, rather than a business. Indeed, the Wizarding World of Harry Potter exists as one of the most influential stories in muggle culture.