The top 5 rating system is a different type of system that aims to develop movie rankings to capture the films that audience have highest regard for. Our goal at reel fives is to establish a consensus on which movies are widely (meaning among everyone, not just critics) regarded as the best movies for each movie genre. It is currently under development.
The basis for film rankings under the top 5 rating system is that for each category (genre or sub-genre) each user will be able select their top five movies. This will allow us at reel fives to measure the percentage of user top fives that a movie is included in for a specific genre. We will use this information to rank movies.
The advantage of the top 5 rating system that we developed at reel fives is that it will allow for proper relative rankings among movies of a specific genre. In our system all movies within a genre will be given consideration by the user. In contrast, in systems where users provide each individual films a score or rating, the average rating for a movie might be greatly influenced by the number of users who voted on the specific movie. This makes it difficult to compare films when one movie has 500,000 ratings while another only has 1,000 ratings. One would expect that the average rating (which would be the basis for ranking movies in this context) would be different for the movie that currently has 1,000 user ratings if instead it had 5000,000 user ratings.
However, it is not to say that the top 5 rating system is without flaws. One limitation of the top 5 system, in its rawest form, is that it has bias towards movies that everyone has seen. An unknown 'gem' that few saw might not make many user's top 5 lists although, had they seen the movie, this 'gem' would have made it. A second limitation of the system is that the lag in the incorporation of recently released movies that should rank highly. Although users might rank a movie currently in theaters fairly high, they will likely not immediately update their top 5 in our website. In addition, the many users will not have seen the movie when it is first released. For this reason here at reel fives we are currently also developing an adjusted ranking based on the top 5 rating system for each genre so as to overcome these potential limitations and any others that are identified. Our philosophy at reel fives is to provide a ranking system that is built as rigorously as possible.
All this being said, the top 5 rating system and reel fives is not meant to replace other sources of rating information, such as metacritic and rotten tomatoes, but rather to provide an additional source of information about the relative popularity and quality of movies (specially within given genres). In this sense, it is a way to reel fives to form a consensus on which the top movies are in each specific genre.
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