Entertainment executives across various sectors can benefit from using demand data, as it offers insights into viewers' preferences, content performance, and potential market reach. Let's use "Chicago Fire" as an example of how demand data can help executives make more informed decisions.
Content Valuation:
- How much is "Chicago Fire" worth? By analyzing its demand data, executives can determine its value contribution to their platform, in any region, and quantify the marginal revenue it generates for their platform.
Acquisition Decisions:
- How can executives decide which TV shows to acquire? Executives can use "Chicago Fire's" demand data in Spain, and other markets to determine how well the show is performing in specific territories and decide whether it would be a good acquisition.
- Can executives estimate the cannibalization of audiences if a title is available on multiple services? Yes, by analyzing how the show performs in different markets, executives can estimate the overlap of viewership between services.
Programming Decisions:
- How can executives optimize their programming slate? By looking at the demand data for shows that the "Chicago Fire" audience likes such as "Chicago Med", "Station 19", or "Grey's Anatomy", executives can program or create content that caters to this target audience.
- Can executives choose the best release strategy and pricing for content? Yes, they can use the demand data of "Chicago Fire" and other similar programs to see how well the series performed in the past, what worked well in terms of release strategy and pricing, and adjust them accordingly.
- What can executives learn about their current audiences? By analyzing the quantitative taste clusters and genre preferences from "Chicago Fire's" data, they can get an understanding of the content that resonates with their current audiences.
Distribution Decisions:
- How can executives decide which platforms to distribute on? By using "Chicago Fire's" demand data, executives can understand where their viewers are coming from and target distribution platforms that are popular with those audiences and monitor demand spikes in different territories.
In summary, demand data provided by Parrot Analytics can help executives across various entertainment sectors make more informed decisions about content valuation, acquisition, programming, and distribution. For instance, "Chicago Fire's" demand data can be used to decide which shows to acquire, how to optimize the programming slate, choose the best release strategy, and estimate cannibalization. Additionally, executives can analyze the show's global performance and understand viewers' preferences, genre popularity, and taste clusters. By leveraging demand data, executives can make strategic decisions that will keep their audiences engaged and grow their platforms.
