As an entertainment executive, one of the crucial decisions you will face is determining how much to spend on content for your platform. Using demand data can provide valuable insights into decision-making and content value assessment, rather than relying on guesswork. Let's take the example of "Strike," a TV series, to understand how demand data can be used to make informed decisions.
Content Valuation:
- How can you determine how much to spend on content? Content valuation uses demand data to answer this question.
- Parrot Analytics content valuation system is based on demand data and reveals the dollar value contribution of any title, to any platform, in any region.
- In case of "Strike," with 3.0 times the audience demand of the average show in Australia over the last 30 days, demand for the show is good.
- Based on this demand, you can quantify the platform-specific marginal revenue contribution and how a title drives engagement across the rest of the catalog.
Acquisition and Programming:
- Demand enables valuing IP globally. You can ascertain what content is most popular on a global scale and in your specific market.
- Using Parrot Analytics demand data, you can calculate the ROI a specific title will bring for any given platform, assess a TV series' ability to drive subscriptions, and evaluate how well a show can mitigate churn.
- By examining the top 10 global markets where "Strike" is most in-demand over the last 30 days, you can make informed decisions on acquiring, distributing, or programming the show.
- Knowing that "Strike" has higher demand than 96.4% of all drama titles in Australia can help identify additional content to acquire or produce in this genre, and promote it to grow your audience.
- For programming decisions, you can use demand data to find out which titles to buy if you want to keep your current audience happy ("Strike" is doing well in Australia) or grow your audience, where shows that are liked by fans of "Strike" like "Hijack," "Deadloch," "Only Murders In The Building," and "FBI" could serve as acquisition targets.
Release Strategy and Marketing:
- Demand enables optimal release strategy and pricing. You can identify spikes in demand for your show to decide on the most effective release strategy and pricing to adopt.
- Demand informs pre-release marketing, and using the demand data for "Strike," you can optimize your marketing campaign ahead of premiere to reach the correct target audience.
Franchise and Spin-off:
- Momentum measures the pace of growth of a show. "Strike" is doing well, indicating that the marketing campaign around the show is effective, and the show's premise resonates with the audience.
- Franchisability (spin-off potential) helps evaluate the potential for further monetization of the IP for a show. For "Strike," spin-offs may be a possibility.
Using Parrot Analytics demand insights, entertainment executives can identify the most popular genres in their local market, assess the value of exclusivity, uncover under-monetized titles, and power discovery and recommendations. Demand data can also help with questions like how popular a show is compared to others in the market, or how well a title has held up since premiere.
In conclusion, by leveraging demand data insights, executives can make more informed decisions on content valuation, acquisition, programming, release strategy, and marketing, which can unlock key revenue generation opportunities for their respective organizations. "Strike" can be used as an example of how demand data can guide executives through the decision-making process for their content portfolio.
