Entertainment executives can use demand data to make more informed content decisions, as it provides a powerful quantification of audience interest and engagement. For instance, demand data can aid in deciding how much to spend on content and which titles would drive more subscriptions and mitigate churn. By analyzing demand, executives can answer questions such as how popular a show is in comparison to the market average, or how popular is a show in specific regions like the UK, which is the number one global market for "The Avengers."
Furthermore, demand data enables executives to map local Whitespaces by identifying the most popular genres within the local market and discovering untapped areas of opportunity. Additionally, executives can use demand data to understand supply and demand trends to make the optimal content decisions. For instance, identifying what types of content exhibit an opportunity to acquire or produce and which content has a higher chance of monetization through spin-offs or franchises.
Content Valuation can also be achieved through demand data. For instance, Parrot Analytics' content valuation system is based on demand data and reveals the dollar value contribution of any title, to any platform, in any region. Features like this give senior executives the ability to value an individual series or an entire content library in more detail, making the process more efficient.
Regarding programming decisions, demand data is valuable in understanding what content is most popular in the target market. By knowing which other shows fans of a particular show are interested in, executives can determine which shows to bundle together on their streaming platform, strengthening their value proposition to prospective viewers. By using demand data insights, executives can also release content at the right time with the right pricing strategy to maximize its success.
Using "The Avengers" in the UK as an example, we can also see how demand data helps to provide more in-depth performance analysis, identifying patterns like spikes in demand and changes in popularity, which are especially useful when examining both rolling year-long and short-term performance metrics. Their analysis shows that demand for the show increases by 5.8% in the last 30 days compared to the 1-year rolling basis, indicating an increasing popularity trend. Parrot Analytics provides a more exact breakdown of metrics too, including rankings and percentiles in genres and the series' performance across several other dimensions, ranging from travelability and franchise potential to momentum and reach.
To conclude, demand data provides a valuable way to measure the audience's engagement with shows, providing executives with the insights they need to make informed strategic content, acquisition, distribution, or programming decisions. By leveraging this data, executives can measure the value of content properties and apply its results to optimize strategy, growing their audience and revenue in a highly competitive market.
