As an entertainment executive, you need to make strategic decisions about the content you finance, acquire or distribute. One crucial aspect of content valuation is understanding audience demand. Parrot Analytics' demand measurement system enables you to track demand data and take informed decisions.
Using the example of "Ragnarok" in the United Kingdom during February 2024, we can examine some of the ways in which you can use demand data to make more informed decisions.
Content Valuation:
Demand data allows you to quantify the marginal revenue contribution of a specific title to a platform and assess how it drives platform-wide engagement. By using demand data for the show like “Ragnarok”, entertainment executives can easily calculate the dollar value contribution of a title and its baseline value. You can make more informed decisions about how much to spend on content or determine how much your content is worth to another platform. For instance, if you are testing a new series idea, you can track demand data to forecast its revenue-generating potential and its attractiveness to your audience.
Regional Audience Mapping:
Demand data allows you to understand which content is most popular in your target market or on a global scale to tailor your acquisition and distribution strategy accordingly. For example, you can analyze the audience demand data for "Ragnarok" in different regions like the United Kingdom, Russia, France, or Brazil. You can then use this mapping to identify the most in-demand content markets and focus your resources effectively.
Content Acquisition:
Using demand data, you can determine which titles to acquire which will help mitigate churn and enhance subscriber acquisition. By knowing which titles your current audience is happy with, and which will attract new subscribers, you can select the right balance of content to meet your business objectives. Analyzing shows like “Ragnarok” provides you valuable insights to understand which other topics like climate change, youth, and sci-fi adventure are resonating with your audience, revealing new opportunities for content production or acquisition.
Release Strategy:
Demand data can help you to deploy the right release strategy for your content and optimize its pricing. For example, analyzing the audience demand data for the "Ragnarok" show provided important information on how the show's popularity was growing. You can use this data to set the optimal release date for any upcoming titles or realize when it might be time to rebrand your content, implement or upgrade the marketing strategy around a specific show.
Competitive Benchmarking:
Demand data allows you to benchmark against other titles available on the market. By analyzing the performance of "Ragnarok" in comparison to other TV series in the drama genre or monitoring its ranking decline in the UK, you can get insights to improve the performance and success of your own titles.
In summary, demand data is critical in content valuation and answering complex questions for entertainment executives. Parrot Analytics, with its independent measure, will help you understand the global performance of your titles with different dimensions like travelability, longevity, momentum, franchisability, and reach in real-time, providing valuable insights that enable you to maximize the potential of your programming strategies, content decisions, acquisition, release, and distribution processes.
