Entertainment executives have traditionally relied on their intuition and limited data to make decisions on acquiring, distributing, and programming their content. However, the advent of demand data has revolutionized the industry by providing actionable insights to make better-informed decisions. The analysis of "The Great British Bake Off" for the month of January 2024 in Australia provides insights into how demand data can be harnessed to enhance decision-making processes.
Content valuation is a crucial aspect of a TV executive's strategic decision-making process. Parrot Analytics' content valuation system is based on demand data and helps executives to get an economic valuation of their content. By using demand data, executives can determine how much to spend on content, estimate cannibalization of audiences, assess the value of exclusivity, and answer many other questions regarding content value. For instance, Parrot Analytics' demand data reveals that demand for "The Great British Bake Off" is 12.1 times the audience demand of the average show in Australia over the last 30 days, making it a highly valued show in the market.
Demand data also enables executives to value content globally. By examining the top 10 global markets where "The Great British Bake Off" is most in-demand over the last 30 days, executives can determine the show's international appeal and prioritize markets for expansion. For example, executives can learn that the show has outstanding audience demand in the United Kingdom, the United States, Canada, Netherlands, Australia, Sweden, China, France, and Romania.
Demand data can help executives make decisions concerning supply and demand. Executives can determine what type(s) of content exhibit opportunities to acquire or produce and assess its ability to drive subscriptions and mitigate churn. Using demand data enables executives to assess a TV series' ability to drive subscriptions and mitigate churn. For "The Great British Bake Off," executives can determine that it has higher demand than 99.8% of all reality titles in Australia, indicating its ability to retain subscribers and attract new ones.
Informed programming decisions can be made using demand data. Demand enables optimal release strategies and pricing decisions, and by examining the performance of "The Great British Bake Off" on a one-year rolling basis vs the last 30 days, executives can determine its popularity trend. The analysis shows that while its average demand on a rolling year basis was 8.3 times the average title, the show's demand increased to 12.1 times in the last 30 days. Executives can introduce the show at an opportune time in Australia to take advantage of the demand spike.
Finally, demand data enables executives to make more informed acquisition decisions. Executives can determine the value of a content library to a platform over time and assess the ROI a specific title will bring for any given platform. Additionally, demand data can help identify under-monetized titles and find new opportunity markets for content distribution. For instance, by analyzing demand for "The Great British Bake Off" in Australia, executives can identify fans of the show and acquire similar titles that appeal to the same audience.
In conclusion, demand data is a powerful tool that entertainment executives can use to enhance their decision-making processes. The analysis of "The Great British Bake Off" for the month of January 2024 in Australia provides concrete examples of how demand data can be harnessed to make better content, acquisition, distribution, and programming decisions. In all, executives that leverage demand data are more likely to make better-informed decisions that result in content that resonates better with audiences, leading to increased revenue and future growth for their companies.
