As an entertainment executive, top-quality content is a crucial business asset to maintain audience engagement and increase revenue. However, understanding whether a new TV series or movie will be a commercial and critical success is not always easy. Yet, demand data can provide entertainment executives with valuable insights into the quality and performance of specific content. Let's examine how demand data for "Cowboy Bebop" in Canada for the month of November 2023 can assist with informed decision making.
Using the audience demand for a particular show, executives can make content-related discoveries on value, consumption, and audience adopting behaviours. For instance, audience demand reveals the content library’s overall value to a specific platform, helping Entertainment Executives make well-informed content acquisition, distribution, and programming decisions. In the case of “Cowboy Bebop”, it has 2.3 times the audience demand of the average show in Canada over the last 30 days, signifying it has good demand.
Additionally, by leveraging demand data, Entertainment Executives can calculate the marginal revenue contribution of a title to a platform and how the title encourages engagement with other titles in the library. For example, demand data can be leveraged to examine how a specific title contributes to revenue when a platform offers multiple options for consumers. Therefore, by harnessing Parrot Analytics content valuation system, executives can evaluate the value of a content library or a series and, in Canada, how well "Cowboy Bebop" performed in terms of contributing to the platform’s success.
Demand data also provides executives with insights into genre popularity in different markets and the audience profile that most engages with their content. By quantifying the international demand in any particular market, content producers can track the future market prospects for their content. For instance, for "Cowboy Bebop" in Canada, it ranks at the 94.4th percentile in the drama genre, making it higher in demand than 94.4% of all drama titles in Canada. This information would come in handy when distributing or programming content in Canada or the larger international marketplace.
Furthermore, demand data allows Entertainment Executives to identify regional whitespace and global trends to support scalable concept testing. For instance, executives can discover which elements of existing content with high audience demand perform well in particular regions, in Canada, the top 10 global markets for "Cowboy Bebop" were ranked in terms of demand and the best preforming market is the US.
Lastly, demand data can provide insight into the efficacy of pre-release marketing, viewer retention, acquisition, and competitive benchmarking. In Canada, for "Cowboy Bebop", demand increased by 2.8% in November. Therefore, the data suggest CBS would have been successful in planning pre-release marketing campaigns aimed at attracting more viewership figures for the show.
In conclusion, as an entertainment executive, harnessing demand data can help make informed programming, distribution, and acquisition decisions, and inform strategic business decisions. By utilizing the demand data for "Cowboy Bebop” in Canada for the month of November 2023, it's evident that this information can guide programming decisions for the content library, assist in content valuation, inform genre popularity in markets, assist in pre-release marketing efforts, and provide insight into audience engagement, retention, and competitive benchmarking.
