If you are an entertainment executive, leveraging demand data can provide you with crucial insights that can help set your content strategy and guide your decision-making process. Using the example of "The Graham Norton Show" in the United Kingdom, we demonstrate how Parrot Analytics enables you to answer specific questions that can assist you in making informed content-related decisions.
Firstly, content valuation is crucial for any content decision, and demand data provides significant insight into the value of any show. You can use demand data to determine a show's economic value and its ROI by quantifying its marginal revenue contribution, baseline value, and ability to drive engagement across the rest of the platform. "The Graham Norton Show" has a strong demand in the UK, ranking 13.3 times higher than the average television show, indicating a higher economic value.
Secondly, global audience demand data is essential for determining the success of your content. Using global content demand data, you can evaluate the popularity of your show on a local and global scale and determine which shows are most attractive to global audiences. "The Graham Norton Show" is in high demand not only in the UK but also in other countries such as the United States, Canada, Germany, and other nations, demonstrating its appeal across various international markets.
Thirdly, demand data can help you make acquisition decisions. Analysing audience demand patterns on current or comparable titles can help you make informed decisions about whether to produce new series or acquire already existing content, particularly where you can easily identify high demand titles with similar themes. The discovery of related shows to "The Graham Norton Show" can indicate the characteristics of desirable content for your platform.
Fourthly, understanding demand patterns plays a crucial role in enhancing subscriber retention and growth. Using demand data, you can identify key shows that attract and retain your subscribers as well as showing what type of content to acquire to strengthen your platform offering. In the case of "The Graham Norton Show," the increasing demand in the UK and other countries indicate the possibility of attracting new subscribers and retaining them on the platform to grow or maintain your subscriber base.
Fifthly, demand data can help inform programming decisions. Leveraging demand patterns for different genres and investigating user preferences will enable you to plan your content mix strategically. The high demand for "The Graham Norton Show" indicates there is a strong following for comedic talk show programs in the UK and other countries, highlighting the need to develop similar content in this category.
In conclusion, utilizing Parrot Analytics demand data is an effective way to enhance an entertainment executive’s decision-making process. For example, analysing “The Graham Norton Show” in the UK for November 2023 revealed insights such as increased demand patterns and popularity of comedic talk shows, successful content distribution in different markets, indicative related content such as "Ted Lasso," "Reservation Dogs," and "The Simpsons," which can go a long way in defining how the company approaches its content strategy. The incorporation of demand data allows entertainment executives to make more informed decisions, effectively meeting the desires and needs of their target audience.
