As an entertainment executive, understanding the audience demand for a TV show can help inform content, acquisition, distribution, and programming strategies. Taking the example of "Endeavour" in Canada in January 2024, we can demonstrate how demand data can be used to support more informed decision-making.
Content Valuation using demand data:
Using demand data, content valuation becomes more data-driven and precise by using demand to answer several questions. These questions include assessing the baseline value of a title, determining the value of a content library to a platform over time, and identifying how a title drives engagement across the rest of the catalog. By leveraging Parrot Analytics demand data, content valuation can be assessed through the dollar value contribution of a title to any platform or region. This data can help television executives determine how much they should spend on content, understand the ROI that a specific title will bring to a particular platform, and estimate the cannibalization of audiences if a title is available on multiple services.
Targeting Acquisitions & distribution:
Demand data can also help television executives identify the potential for new content acquisition or production. With an understanding of what genres are resonating most with current audiences, identifying content that has unmet demand can inform content decision makers about what to produce, acquire or distribute. Additionally, mapping local white spaces, identifying viewership in key global markets and determining the best platform fit can all be made more accurate thanks to demand data.
Optimizing release strategy and marketing campaigns:
Understanding audience demand allows executives to optimize release and marketing strategies to ensure that new content finds its target audience. By tracking the pace of growth for "Endeavour," we observe that demand spiked in late January in Canada. This data points to the critical importance of a well thought out release strategy and highlights that understanding demand patterns can help predict future demand, informing a targeted marketing strategy.
Subscriber Acquisition and Retention:
Identifying the optimal content portfolio to impact subscriber retention and acquisition is a critical task for television executives. Analyzing the audience of "Endeavour" and other related content that they enjoy, can inform executives about what type of content to acquire to keep the current audience engaged. Similarly, executives can utilize the data to identify new content that will attract new subscribers to their SVOD service.
In conclusion, audience demand data for TV series such as "Endeavour," provides critical insights that can empower entertainment executives to make more informed content, acquisition, distribution, and programming decisions. With accurate demand data, executives in the industry can make data-driven decisions that will enhance their audience’s experience and achieve their business goals.
