If you are an entertainment executive, demand data can provide valuable insights into how you make decisions about content acquisition, production, marketing, distribution, and programming. With the help of demand data, entertainment executives can make better-informed decisions that are based on audience preferences and global trends. For instance, let us consider the case of "Cold Feet," and explore the various ways in which demand data can be leveraged:
Content Valuation: As "Cold Feet" has almost three times the demand of the average show in the United Kingdom, it indicates that the show is a valuable asset for any SVOD platform in that market. Additionally, the content valuation system, powered by global content demand and supply, can be used to estimate the dollar-value contribution of any title to any platform in any region. By using this system, executives can determine how much they can afford to spend on a show, analyze its ROI, and assess its ability to drive subscriptions and mitigate churn.
Optimal Release Strategy and Pricing: By examining the demand trends for "Cold Feet" in November 2023 in the United Kingdom, we can see that there is a spike in demand in the middle of the month. With this information, content creators can plan their release schedules during peak demand periods and optimize their marketing campaigns ahead of premieres.
Travelability and Global Expansion: While "Cold Feet" has good audience demand in the United Kingdom, its travelability, or its ability to generate international demand beyond its home market is poor. A strategic decision, therefore, could be to improve travelability by introducing subtitling or dubbing in other languages. Additionally, executives can use demand data to identify other markets, where the show in demand, and to use fans' cross-border preferences to expand and grow SVOD platforms globally.
Franchisability and Spin-off Potential: Despite the poor franchisability of "Cold Feet," executives can use demand data to examine the elements most appreciated by fans and produce shows with a similar genre or tone to increase the popularity of their IP.
Programming and Content Acquisition: Entertainment executives can use demand data to assess the performance of "Cold Feet" against other titles in the same genre available in the market. This data will provide an impartial benchmark to compare the content's value against any attempted acquisition agreements. Executives can use audience preferences to tailor new series concepts and focus on genres that will attract a new demographic and grow their audience.
In conclusion, entertainment executives could use demand data to make effective decisions about content acquisiton, production, marketing, and programming. It can provide reliable information on audience preferences, competitor analysis, performance tracking, and global trends. Utilizing demand data tools such as Parrot Analytics, helps executives to have a better understanding of the value of a title or full library in a specific market and track performance in real-time. Demand data can help move the conversation from subjective discussion about creative direction to quantifying performance and allowing calculated risk-taking for growth.
