As an entertainment executive, you understand that utilizing data for informed decision-making is crucial in the industry. Demand data can provide new insights into how to make better decisions around content, acquisition, distribution, and programming. By using the reality series "Below Deck" as an example, we can illustrate how demand data can help us evaluate content performance in Canadian markets.
Content valuation: How can you determine how much to spend on content? The 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. By using demand data, we can calculate the ROI a specific title will bring to any given platform. For "Below Deck," the demand data suggests that the show has good demand in Canada, although it has seen a decrease in demand over the last 90 days. Despite this, the show's outstanding longevity and momentum suggest that it may be a worthwhile investment for those looking to retain subscribers long-term.
Demand enables scalable concept testing: By analyzing the data around content demand, we can determine which elements of existing shows are most attractive to fans. In the case of "Below Deck," the Parrot Pulse reveals its outstanding performance metrics in five out of six dimensions worldwide. We also know that the show saw a 43.8% increase in demand during October 2023 in Canada. These insights indicate that there is likely an opportunity to expand the brand beyond its current format and could be successful in spin-off series or other franchise opportunities.
Demand helps with decisions concerning supply and demand: Understanding where demand for specific content is occurring is essential for deciding which titles to acquire or produce. By examining the top ten global markets where "Below Deck" is most in-demand, we can identify potential opportunities where unmet demand exists. For example, in Thailand "Below Deck" demand is outstanding, indicating a potential opportunity to acquire or distribute this content in the region.
Demand informs the platform and network fit: With demand data, we can assess the performance of a title on any number of platforms, helping us to find which platforms are the best fit for our content. By using data from Parrot Analytics, we can observe that "Below Deck's" demand in Canada was only 33% of the demand it received in the United States - this suggests that the show may have higher potential for growth in the United States. At the same time, we can see that its travelability is good - i.e. it has somewhat strong international demand - suggesting that it may have strong prospects for distribution in other markets, too.
Demand enables optimal release strategy and pricing: By analyzing demand data for a specific title, we can determine the ideal release strategy. For "Below Deck," the show saw spikes in demand toward the end of October 2023, suggesting that the series would perform best if released at a similar time in future seasons. By releasing the series at the right time, we can avoid oversaturating the market, and ensure it reaches its maximum potential audience size.
Demand helps with subscriber retention and acquisition: By analyzing the demand data on "Below Deck," we can identify patterns about which titles should be acquired to keep existing subscribers happy and which shows are likely to grow the audience in size. This data can also help platforms to find new and underutilized areas to acquire subscribers by identifying which markets are not sufficiently served by other platforms, and which series are most likely to work in these environments.
In conclusion, in today's entertainment business industry, data plays a critical role in shaping strategic decision-making. The demand data provided by Parrot Analytics can help executives in the field of acquisition, distribution, programming, or content valuation to take advantage of the opportunities that these insights offer. With data like the demand metrics around "Below Deck," entertainment professionals can make informed decisions on how best to extend the lifespan of brands, grow audience sizes, and make their overall content offerings more effective.
