For entertainment executives looking to make informed content, acquisition, distribution and programming decisions, demand data analysis is essential. Using the example of "Real Time With Bill Maher" in the United Kingdom in December 2023, we will demonstrate how demand data can be used to make strategic decisions.
Firstly, in terms of content valuation, we can use demand data to determine the show's value on the platform. Parrot Analytics has developed an economic valuation system that is based on global content demand and supply. By examining the show's value contribution to the platform and the baseline value of the title, we can estimate the Return on Investment (ROI) that the show will bring to the platform.
One of the essential decisions that executives need to make is content acquisition. Demand data can help them to identify the types of content with an opportunity to produce or acquire. By examining the popularity of different genres within local markets, gives executives an understanding of what the audience wants. For instance, knowing that the demand for "Real Time With Bill Maher" has recently spiked in the United Kingdom, it is the best time to acquire the program for the platform.
When analysing show metadata, we can gauge the longevity of the show, which will help executives to determine whether the show will maintain its demand over time. They can also track the show's momentum, which shows the pace of growth. Knowing that the momentum of "Real Time With Bill Maher" is exceptional, will help executives to remain confident that the show will maintain its popularity. Furthermore, executives can use franchisability data to determine the potential spin-offs or franchises for the show.
Another way executives use demand data is for distribution decisions. By examining markets where the show is most in-demand, we can determine which platforms or distributors to target when promoting the show. During December in the United Kingdom, for example, "Real Time With Bill Maher" had excellent demand, which signifies that executives can concentrate on distributors and promotion strategies in this market to maximise the show's demand.
Lastly, demand data can be used to drive programming decisions. Knowing that "Real Time With Bill Maher" is popular with audiences who also like "Rick And Morty", "Only Murders In The Building", "Shetland",among other shows, executives can programme and advertise those shows in tandem with "Real Time With Bill Maher" to maximise the audience. This approach is a great strategic tool for executives to consider as they plan their programming slate.
By using demand data, executives can answer several questions that help them decide how to position the content they have acquired or produced, how to release and price content, how to engage with their current audiences, and what content to acquire next. Demand helps executives to understand what their audience wants and which content is most valuable. Therefore, executives can make informed decisions about programming, acquisition, distribution and content valuation.
