As an entertainment executive, understanding audience demand is critical to making informed content, acquisition, distribution, and programming decisions. In today's data-driven world, analyzing audience demand and finding actionable insights from that data can help executives mitigate risk, maximize ROI and drive growth.
Taking "True Detective" as an example, demand data can provide executives with valuable information that can aid in decision making. For instance, we can see that the show had an exceptional audience demand of 22.8 times the average show in Canada over the last 30 days. This information can provide an estimate of the potential value of the show, especially when compared with other titles. Additionally, the show's global performance across six dimensions is exceptional. These six dimensions are worldwide audience demand, travelability, longevity, momentum, franchisability and reach. This information can help executives evaluate the strategic potential of a show in their specific market.
Demand data can also inform acquisition decisions. For example, executives can compare "True Detective" to other titles with similar audience demand to gauge its comparative value and create a baseline for content valuation. Additionally, data on complementary shows like "Halo", "Masters Of The Air", "Rick And Morty", "Reacher", and others can offer insights into which titles might grow the audience.
In distribution and programming decisions, executives can use demand data to optimize release strategy and pricing. For example, the spike in demand for "True Detective" in mid-February 2024 can inform executives to release similar content at that time to maximize viewership. The data can also reveal under-monetized titles and help find new opportunity markets for content distribution. Furthermore, understanding the audience demand for a show can help executives retain their current subscribers, as they can determine which titles resonate most with their audience, while also attracting new subscribers.
Lastly, demand data can guide content producers to make informed decisions about franchising and spin-offs. Supported by this data for "True Detective", executives can determine what franchise titles might be most effective to carry forward. These insights also provide executives with the opportunity to select IP to develop into a franchise.
In conclusion, Parrot Analytics' demand data offers executives a range of methods to make informed content, acquisition, distribution and programming decisions. The insights derived from audience demand data can impact content valuation, inform acquisition decisions, optimize distribution and programming, help find new opportunity markets for content distribution, guide strategic decision making around franchising and spin-offs, and much more. In today's entertainment industry, demand data is therefore indispensable in providing a competitive edge for executives.
