The Demand Distribution curve illustrates how a TV show’s popularity compares to the demand benchmark, which is a measure of the average demand across all titles. The curve is divided into performance buckets, ranging from “Below Average” to “Exceptional”. A show falls into one of these performance buckets depending on how many times more or less demand it has compared to the demand benchmark.
The show’s performance is market-specific, e.g. the same show can be in the “Average” range in the United States and in the “Good” range in France.
As an example, if a show has 9 times more demand than the demand benchmark, it falls in the “Outstanding” performance range; only 2.7% of all shows in the market reach this high level of demand.
Entertainment executives today face a tough challenge of making informed content decisions amid the changing content consumption patterns of viewers. At Parrot Analytics, we use demand data to help these executives make more informed acquisition, distribution, and programming decisions. In this article, we will use "Close Enough" as a case study to demonstrate how demand data is used for content valuation, franchise potential and much more.
Content Valuation
Using demand data, executives can determine how much to spend on content like "Close Enough." Our content valuation system powered by global content demand and supply allows us to calculate the economic value contribution of any title to any platform. Parrot Analytics' content valuation is based on demand data and reveals the dollar value of any specific title in any region. In this case, the demand for "Close Enough" in Canada increased by 65.7% during February 2024. Its demand over the last 30 days was 2.3 times the demand of the average show in Canada, and only 8.6% of TV shows have this level of demand. These details help executives to make more informed decisions about how much to pay for content and its value on their platform.
Franchise Potential
Parrot Analytics demand data can also be used to determine the spin-off potential of a show. In the case of "Close Enough," its franchisability is rated as okay. We can provide insights into the show's spin-off potential, which can be useful when deciding whether to turn certain content into a franchise or create a spin-off.
Program Promotion and Scheduling
Understanding audience behaviors and preferences is critical when it comes to promotional strategies. Demand data provides the necessary insights required to promote a show. Additionally, executives rely on demand data when scheduling new episodes of the show. Based on the demand behavior of "Close Enough," their promotions team can target specific demographics and ensure the show doesn't clash with popular shows in the same time slot.
Audience Retention and Acquisition
Demand data also helps executives acquire and retain audiences. For example, executives can determine which titles to buy when looking to keep their current audience happy or grow their audience. Based on the demand behavior of "Close Enough," the content executives can ensure that they have a dedicated but small fandom that appeals to a wide group of people in different regions.
Globalization of Content
Executives can use demand data to evaluate the global reach of content and explore the possibility of expanding content beyond the local market. In the case of "Close Enough," we found that the United States had the highest audience demand for the show, followed by Germany, Canada, Australia, and the United Kingdom, among others. By using travelability data, executives can identify new markets to expand into and then target them with precision.
The case study of "Close Enough" demonstrates just how important demand data is for today's entertainment executives. Demand data can help executives make informed decisions around content, acquisitions, programming, and promotions, to remain competitive in the crowded content landscape. Parrot Analytics understands the complexities involved in making these decisions, and that's why we provide readily interpretable demand data backed by machine learning algorithms, ensuring that executives get the insights they need to succeed.
Close Enough's travelability to Canada in the last 30 days is 33%, which means that the audience demand for Close Enough is 33% of the demand in its country of origin, United States. Click through to another market to discover how well Close Enough travels internationally.
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Our TV audience measurement dataset is truly global. Discover how popular HBO Max‘s Close Enough is in any of the following selected markets. Need data for other markets? Find out more about DEMAND360LITE.
Parrot Analytics is the leading global content demand analytics company for the multi-platform business of television. With the world’s largest TV audience demand dataset, the company currently tracks more than 1.5B daily expressions of demand in 100 languages, not only in Canada, but also in 100+ other markets around the world to reveal the television content that consumers watch (viewership) and give their attention to the most.
Parrot Analytics' television demand data highlights the global TV content monetization opportunities for HBO Max and thousands of TV studios, linear networks, broadcasters, pay TV providers and OTT / SVOD platforms.
Unlike TV ratings, our DemandRank TV rating system ensures that important demand signals are weighted more heavily than others: The more consumer effort required; the more importance is attached to each signal. Once all the signals are weighted and combined, the audience demand for Close Enough, for example, can be assessed for a market e.g. Canada, which can then be benchmarked against genre averages (e.g. Animated Sitcom), using our globally standardized Demand Expressions® metric.
This page has been modified on March 28, 2024, 6:59 p.m. PST using global tv demand metrics from Parrot Analytics for Close Enough in Canada. We provide our partners with smart TV know-how to help them drive better and more informed content advertising strategies. Contact us today to find out more.