As an entertainment executive, analyzing and making informed content decisions is important for the success of your platform or production company. With the assistance of demand data, better decision-making is possible, which in turn can lead to increased subscriber acquisition and retention.
Using the example of the TV series "Reign" for the month of October 2023 in Canada, we can examine how demand data can help in decision-making processes.
Content Valuation: One of the critical queries answered by demand data is content valuation. Parrot Analytics' demand data can enable content owners to have an estimate of how much a specific title's ROI will be for any given platform. The demand data can also calculate the marginal revenue contribution of a special title and its ability to reduce churn and increase subscription, which are essential factors that can be used in content valuation processes.
Acquisitions: Knowing the shows that audiences like will always give content distributors and producers leverage to pick the shows or IP that will be most in-demand in the market or library. From the top 10 global markets where "Reign" has the most demand, we can see that the United States is "Reign"'s number one market globally, and demand is good. China comes in second, where demand is also good. Therefore, acquiring "Reign" and making it available to the US and Chinese audience will be an excellent acquisition decision.
Programming/Release Strategy: Using demand data, producers and distributors can determine the perfect release strategy for their content. By examining the audience demand spike for "Reign" during late October in Canada, content owners can release the show at the right time to achieve maximum engagement. If "Reign" is released during periods where demand is low, it is likely that audiences might not show increased engagement in the show.
Content distribution: With the help of demand data, television executives can identify the various regions or markets where the audiences love their content. From our analysis of the top ten global markets for "Reign," it is evident that the most in-demand market for "Reign" is the US, and the demand is good. Identifying markets like the US signifies that the platform or production company can focus on promoting its content more in these marked regions.
Audience Retention and Subscriber Acquisition: Demand data can also help in retaining current subscribers and acquiring new ones. Knowing the content that your current audiences love will help in making better decisions concerning acquiring new content. For instance, analyzing the affinity between "Reign" and other TV shows helps to identify the show which "Reign" should be combined alongside to attract more subscribers.
In conclusion, demand data can be a significant asset to entertainment executives seeking to analyze and make informed decisions in various aspects of the entertainment industry. From content valuation to programming strategies, distribution, subscriber acquisition and retention, and more, demand data delivers vital insights into what their audiences want and how to best meet those needs.
