As a global entertainment executive, understanding audience demand is essential to making informed decisions on content acquisition, distribution, programming, or any other strategic content decision. By examining the example of "Stranger Things" from Canada in August 2023, we can explore ways in which demand data can be utilized:
- Content valuation: Understanding demand data for a particular show can help streaming platforms determine the financial value of the program. For instance, "Stranger Things" had outstanding demand in Canada and ranked at the 99.8th percentile in the drama genre in August 2023. This indicates that the show has a tremendous value in the Canadian market, and its content creators and financiers can potentially negotiate higher licensing or distribution fees in Canada.
- Programming decisions: Demand data helps explain what is resonating with audiences, and this can be used in the programming decision-making process. We know that "Stranger Things" has a dedicated fan base, and we can observe fans of "The Witcher," "The Mandalorian," and "Game of Thrones" are fans of "Stranger Things." With this information, a streaming platform can make a logical decision to acquire or develop new programs with similar themes or storylines to engage the existing fan base of "Stranger Things."
- Distribution decisions: By looking at where demand is strongest, streaming platforms can make informed decisions about distribution. In the case of "Stranger Things," its demand in the United States, the United Kingdom, Russia, Canada, Spain, Germany, India, France, and China is outstanding. This means that distribution of "Stranger Things" in these regions could have higher engagement and engagement than other titles.
- Acquisition decisions: Demand-based insights help informed acquisition decisions. For example, excellent audience demand for "Stranger Things" in Canada has increased by 22.9% in August 2023, indicating that it is a show that resonates with Canadian audiences. Streaming platforms could use this data to acquire a similar title, which has the potential to appeal to the Canadian audience.
- Franchisability: Understanding demand data helps in assessing whether a show has franchise or spin-off potential. "Stranger Things" has an exceptional franchisability dimension, indicating the potential to create spin-offs, merchandise, and other content offshoots, creating more opportunities to monetize the IP.
In conclusion, understanding the demand for a title, like "Stranger Things," informs content valuation, programming decisions, distribution decisions, acquisition decisions, and identifying franchising potential. By using demand data analysis offered by Parrot Analytics, entertainment executives can optimize content decisions, limit risks, and increase revenue potential.
