As a TV executive, demand data can be your most reliable source of insight, allowing you to make well-informed content, acquisition, distribution, and programming decisions. Parrot Analytics' content valuation system is based on demand data and can provide you with the dollar value contribution of a specific title to any platform in any region. In this article, we will use the demand data for "Coronation Street" in Canada during November 2023 to explain how demand data can help with content strategy.
One of the key questions demand data can answer is content valuation - how much is my content worth, and what is the value of my content library over time? In this case, we can see that "Coronation Street" has 8.3 times the audience demand of the average show in Canada over the past 30 days. This is an outstanding level of demand, which only 2.7% of all TV shows achieve. It's important to note that demand for this show has been decreasing recently, dropping in its rank by 240 spots during November in Canada, indicating that there is a need for new or refreshed content to maintain growth in demand.
Additionally, demand data can allow you to determine your show's global performance and identify new opportunities for monetization. For example, examining the top 10 global markets where "Coronation Street" is most in-demand over the last 30 days, we see that the show outperforms the demand of the average TV show (1x) in each of these markets. The United Kingdom is the show's number one market globally, with outstanding audience demand of 9.6x, while demand is outstanding in Australia, Ireland, and Canada. By looking at the show's performance in various regions, you can identify opportunities to increase content distribution, acquire more content, or tailor advertising campaigns to specific regions.
Moreover, demand data can help you to make informed acquisition decisions by identifying your next potential content opportunity, and/or understanding the potential value of your catalogues. You can use demand data to determine which genres are currently popular in markets and can help you to optimize your content acquisition strategy. For example, we can see that "Coronation Street" ranks at the 99.4th percentile in the romance genre in Canada in November 2023. This indicates that there is a high level of demand for romantic dramas in Canada, which represents an excellent opportunity for you to acquire similar content genres.
Another question that demand data helps to answer is how to retain and acquire subscribers. Typically, you will need to drive high levels of demand by identifying and acquiring titles that will drive big audiences or reduce churn. Understanding how a show is impacting your platform's subscriber acquisition or churn is critical. In "Coronation Street"'s case, we can see that demand for the show has been decreasing by 30.0% in Canada during November, indicating that it may not be the most effective title for subscriber acquisition or churn reduction in the Canadian market.
Lastly, demand data enables you to optimize your release strategy and pricing, ensure your marketing campaign is tailored to reach the right audience, and to find new opportunity markets for distribution. An example of this is by analyzing fans of "Coronation Street" to uncover what other shows they like, such as "The Late Show With Stephen Colbert" and "Law & Order: Special Victims Unit". You can use this insight to find other content that appeals to the same audience and tailor your marketing to attract similar viewers.
Overall, demand data is a powerful tool for TV executives, providing insights into global audience demand, content valuation, franchise potential, and more. By leveraging demand data, you can make more informed decisions on content acquisitions, development, and distribution, ultimately increasing your likelihood and potential for success in the global entertainment industry.
