As an entertainment executive, one of the most important questions you may ask is "How can we make informed content decisions?" The answer lies in data analysis. And specifically, in the use of demand data analytics, such as those provided by Parrot Analytics. As an example, let's look at the analysis of "The Good Doctor" for the month of January 2024 in Canada.
Firstly, demand data can be used to determine the value of a title. The Parrot Analytics content valuation system uses demand data to show the dollar value that a title contributes to a platform, in any region. Thus, entertainment executives can use demand data to make informed content valuation and acquisition decisions, and determine how much to spend on content.
Secondly, demand data informs content decisions in terms of audience preferences. By looking at the demand for "The Good Doctor" and the other shows that fans of the show also like, namely "Grey's Anatomy", "The Blacklist", "The Simpsons", "The Last Of Us", "Game Of Thrones", "RuPaul's Drag Race All Stars", "9-1-1: Lone Star", "Yellowstone" and "Chicago Med", entertainment executives can understand what their audience likes. This allows for smarter programming decisions, such as bundling shows with similar viewership.
Thirdly, demand data informs content decisions in terms of global appeal. For example, by analyzing the top 10 global markets where "The Good Doctor" is most in-demand over the last 30 days, entertainment executives can understand how well the show performs in each of these markets. Knowing where a show is in-demand can help dictate where to place it and how often to make it available. As a result, entertainment executives can make more informed distribution decisions.
Fourthly, using demand data allows you to identify opportunities using aspects like momentum, travelability, reach, franchisability and longevity. This helps in making smart decisions regarding supply and demand, deciding what type of content to acquire or produce, how to market upcoming productions and which new content markets to venture into.
Finally, demand data helps to measure the success of a marketing campaign and its effects on a show's momentum. Entertainment executives can use demand data to understand which elements of existing content fans like the most, how much global appeal a title has in comparison with other titles in the genre, how to allocate funds to maximize future content investments and how to optimize pre-release marketing campaigns.
In conclusion, as an entertainment executive, demand data is invaluable in making informed content, acquisition, distribution and programming decisions. By analyzing demand data for a show like "The Good Doctor", executives can understand audience preferences and how they differ in various markets, identify opportunities for new content markets, and measure the success of marketing campaigns. Using demand data allows for more informed and smart decision making.
