Demand data is the key to making more informed content, acquisition, distribution, and programming decisions in the entertainment industry. By analyzing the data, entertainment executives gain insights into consumer behavior, content preferences, and market trends that can help them make strategic decisions.
One way demand data can be used is in content valuation. Using Parrot Analytics’ content valuation system, executives can quantify the dollar value contribution of any title to any platform in any region. For instance, demand data for "The Diplomat" indicates good audience demand in the United Kingdom for February 2024, ranking at the 96.3th percentile in the drama genre. This valuation system can help executives determine how much to spend on content and the return on investment a specific title will bring to a platform.
Demand data also provides insights into genre preferences, helping executives make informed decisions about upcoming productions or acquisitions. In the case of "The Diplomat," the data shows it is similar to other shows such as "Shetland," "Only Murders In The Building," and "Succession." This information can be used to identify opportunities for supply and demand, answering questions like which types of content exhibit an opportunity to produce or acquire and what genres should we focus on to attract new subscribers to our SVOD service.
Demand data also allows for optimized release strategies and pricing as demonstrated by "The Diplomat's" performance. While the show has been decreasing in popularity on a rolling year basis, it experienced a 52.5% increase in peak demand in February. By identifying the top 10 global markets where "The Diplomat" is most in-demand, executives can target distribution to capitalize on these opportunities.
Similarly, demand data is invaluable for subscriber retention and acquisition. Understanding demand for content helps identify titles that should be acquired to keep the current audience happy and those that will attract new subscribers to a platform. For example, given China is "The Diplomat's" top global market, executives could advertise the show more to the Chinese market to acquire more users in that region.
Overall, demand data provides entertainment executives with valuable insights that can lead to more informed and profitable decision-making, whether it's content valuation, genre preferences, optimized release strategies, or subscriber retention and acquisition. By studying and leveraging demand data, executives can stay ahead of the curve in a highly competitive industry.
