As entertainment executives working in various capacities across the industry, you understand the importance of using data to make informed decisions regarding content creation, acquisition and distribution. Therefore, utilizing demand data is a valuable tool to better understand and predict audience behavior. Parrot Analytics’ analysis of "Power Book III: Raising Kanan" in the United Kingdom for the month of December 2023 will serve as an exemplary way to showcase how demand data can be used for informed decision making.
One of the primary ways that demand data can be used is content valuation. The content valuation system powered by global content demand and supply helps to determine how much a specific title will bring for a platform, informing future investment and acquisition decisions. In the case of "Power Book III: Raising Kanan," the show’s demand in the United Kingdom increased by 14.5% in December, with travelability being rated as okay. Additionally, the show has increased in popularity, with demand for the show spiking in mid-December, moving up in rank by 136 spots during this time, with 10.2 times the audience demand of the average show in the United Kingdom. This increased popularity is indicative of the show's growing value, and content valuation based on demand data provides a better understanding of its worth and informs decisions regarding its future.
Demand data is vital to content acquisition as well. It is important to understand how much a show is worth to another streaming platform or distribution network. "Power Book III: Raising Kanan" has higher demand than 98.7% of all drama titles in the U.K. During December, audience demand for the show increased by 14.5%. This information is essential for determining why one platform could have an interest in acquiring or distributing content.
Another crucial way to utilize demand data is for programming decisions. Understanding global demand can help determine what type of content to produce or acquire, what genres viewers are most interested in, and where gaps in the market exist. Parrot Analytics has provided insight into the top 10 global markets where "Power Book III: Raising Kanan" is in high demand, with the United States being the top market, followed by South Africa, United Kingdom and Canada, among others. Such insights could assist in programming decisions, informing all stakeholders of the value of shows across different markets.
The demand data analytics also inform the decision-making process with regards to marketing campaigns for upcoming releases. In particular, as indicated by the 'momentum' dimension score of Power Book III: Raising Kanan, the pace of growth for the U.K. audience is outstanding, and this information could be used to help optimize the marketing campaign ahead of its premiere.
Lastly, demand data can help network executives decide which titles to renew, and which shows might require less marketing spend in the future. Demand data allows executive decision-makers to see not only how well a show performs in its home market, but also how it performs in comparison to other shows in different markets around the world. By examining the peak demand in the last 30 days and comparing it with one year rolling data, we see that "Power Book III: Raising Kanan"'s popularity has increased, with peak demand increasing by 5.6%. The show's average demand on a rolling year basis was 4.4 times the average title, compared to 10.2 times the title average for the last 30 days.
In conclusion, the demand data analysis of "Power Book III: Raising Kanan" for the month of December 2023 in the United Kingdom shows how demand data can inform content valuation, acquisition, distribution, programming, and marketing decision-making processes. The insights gained from demand data provide stakeholders with valuable information to make informed, data-driven decisions in this highly competitive industry.
