The outstanding demand for "The Last Kingdom" in the United Kingdom in January 2024 provides several insights that entertainment executives can use to make more informed decisions.
Firstly, audience demand data can provide an economic valuation framework for content valuation. It can help executives understand a show's dollar value contribution to any platform in any region, as well as how it drives engagement across the rest of the catalog. Therefore, those in charge of content acquisition or production can use demand data to determine how much to spend on content with increased accuracy, and gain insights into the performance of their titles as acquisition-driving or churn-reducing assets.
Secondly, demand data can inform specific content decisions, such as determining the most popular genres in the market, identifying opportunities to acquire or produce content, and finding new opportunity markets for content distribution. For example, the data shows that the history genre has exceptional demand in the United Kingdom, so executives might seek to invest further in historical titles to capitalize on the trend.
Furthermore, demand data can be used to understand the international viability of a show by considering its travelability, which is the global demand relative to its home market. For instance, the demand data for "The Last Kingdom" shows that it has outstanding audience demand worldwide and is considered highly "travelable." Consequently, executives can discover which markets the show is likely to perform well in and subsequently develop a more global content strategy.
The data also provides insights into audience demographics by highlighting the shows and genres that fans of "The Last Kingdom" also enjoy. In this case, they include shows like "Game of Thrones," "The Mandalorian," and "The Walking Dead." This insight can help executives tailor their marketing and promotion strategies and identify potential partners for collaborations and cross-promotion opportunities.
Finally, the demand data indicates the overall performance of a show, specifically its momentum, longevity, reach, and spin-off potential. By examining how demand has changed over time, executives can identify which titles retain long-term value, which titles have peaked, and optimize the release strategy or pricing accordingly. For instance, the data for "The Last Kingdom" indicates the show has experienced a surge in demand, which might make it more attractive for acquisition and distribution deals.
In conclusion, demand data can provide entertainment executives with valuable insights that allow for more informed content, acquisition, and distribution decisions. By leveraging this data to understand audience demand and behavior, executives can optimize their content strategy, more easily identify opportunities, and increase the likelihood of commercial success.
