As an entertainment executive, it is essential to consider audience demand data when making content decisions, acquisition decisions, or distribution decisions. Demand data is a valuable tool to determine a show's valuation, which is based on how much a title contributes to a platform's revenue on a global scale. In this article, we explore how demand data affects strategic decision-making in the TV industry, using the example of "60 Days In."
Content Valuation
When determining a show's valuation, content valuation is a vital metric. By using demand data, content valuation calculates the dollar value of any title, assesses its contribution to a platform, and predicts its financial return. It measures the show's worth, its ability to drive engagement, its impact on audience retention, and the potential for it to serve as a strategic asset for a streaming platform. Demand data from "60 Days In" suggests that the show has been a success in Canada because it has seven times the demand of the average show in the last 30 days and has attracted higher demand than 98.5% of all reality shows in the country.
Programming Strategies
Another important aspect of demand data is recognizing and utilizing trends or patterns. For instance, examining the top 10 global markets where "60 Days In" has been in demand, executives can identify new territories to target for distribution. Furthermore, they can leverage demand data to optimize release strategy and pricing, ensuring that the content reaches its full potential.
Acquisition Decisions
The acquisition process requires careful consideration of budgetary constraints and the potential return on investment of a given title. By examining demand data, executives can make informed acquisition decisions based on a show's anticipated performance. They can use demand data to answer questions such as, "how popular is my show relative to the market average," or "how popular is my show in this market or any other market in the world."
Discovery & Recommendation
Demand data powers discovery and recommendation tools which are crucial for ensuring the right audience is being targeted. It helps executives understand audience tastes and preferences by assessing their behavior through affinity and cluster analyses. In the case of "60 Days In," we see that fans of the show are likely to also enjoy content such as "The Curse Of Oak Island," "Fear The Walking Dead," and "The Walking Dead."
Conclusion
Parrot Analytics' demand data provides TV executives with the necessary tools to make more informed content decisions, acquisition decisions, and distribution decisions. Using demand data, content valuation can be applied to individual series or an entire library, which reveals a title's value to any platform on a global scale. By examining trends like travelability and franchisability, executives can use demand data to develop strategies that maximize their content's potential earnings and reach. Finally, demand data powers tools that aid discovery & recommendations by understanding the audience tastes, leading to better content targeting and maximization of returns on investment.
