How Entertainment Executives Can Use Demand Data to Make Informed Content Decisions
In the fast-paced entertainment industry, it is crucial to make data-driven decisions to stay ahead of the competition. Parrot Analytics' demand data provides executives with insights on audience preferences and trends, which aid in making more informed decisions.
One of the ways executives can leverage demand data is through content valuation. "The Nazis: A Warning From History" in the United Kingdom during February 2024 serves as a great example of how this can be done. With demand 4.5 times higher than the average show in the United Kingdom, executives can use this to ascertain the value of the show and its potential worth to platforms. Such data permits decision-makers to make more accurate determinations of how much to spend on content and assess the ROI a specific title will bring to a given platform.
Demand data can also help executives identify opportunities for expansion. They can use travelability metrics that capture how well a title travels across international markets relative to its home country. The show's travelability was rated poorly, and this represents a fantastic opportunity for executives to focus on international distribution explicitly targeting regions where the show has high demand.
Executives who seek to ensure that a show meets its intended audience should use demand data to identify its reach, i.e., the number of people expressing demand for it. "The Nazis: A Warning From History" had "okay" reach in the United Kingdom, indicating its dedicated fandom but limited appeal, suggesting that it may cater to a niche audience. Executives should have this information in mind and use it to ensure that the show's distribution and promotion align with its target demographic, leading to successful viewer acquisition.
Demand data can help executives analyze audience taste clusters using the TV shows' correlations to multiple genres. By exploring this, they can have better insight into the content library they have or plan to acquire. "The Nazis: A Warning From History" featured in the documentary genre, where it performed exceptionally well, ranking at the 98.4th percentile, where only a few titles achieve this level of demand. Executives should leverage such data insights to maximize the acquisition of content contributing to that demand cluster.
Finally, demand data can help OTT platforms and linear TV networks identify the shows or genres that are superior to their competition. For instance, during February 2024, "The Nazis: A Warning From History" had higher demand than 98.4% of all documentary titles in the United Kingdom. Executives can use this data to benchmark against other titles available on the market and make decisions that keep their platform's or network's content competitive.
In summary, Parrot Analytics' demand data can be the basis for critical strategic decisions for entertainment executives in programming, content distribution, acquisitions, and content valuation. Through the analysis of shows like "The Nazis: A Warning From History," decision-makers can gain valuable insights into audience behavior and preferences, identify potential opportunities for growth and expansion, and make better-informed decisions on what content to acquire, produce, and distribute to maximize their platform's value.
