How entertainment executives can use demand data to make more informed content decisions?
Parrot Analytics provides entertainment executives with the power to make more informed content, acquisition, distribution, and programming decisions. One way this is done is through the use of demand data, which can provide quantifiable insights into the performance of TV shows. Using the example of "The Winchesters" in the United Kingdom during November 2023, we can examine different ways in which demand data can be used by entertainment executives to make data-driven decisions.
1. Content Valuation: Through demand data, entertainment executives can determine how much their TV show is worth. By using Parrot Analytics' content valuation system, executives can reveal the dollar value of any title to any platform, in any region. This data can provide insights into how much content to spend on content, which titles are driving engagement, and which TV shows are worth acquiring. The insights gained from content valuation can help executives make more informed decisions about investing in TV shows.
2. Optimize Release Strategy and Pricing: Entertainment executives can use demand data to inform their release strategy and pricing. Through demand data, they can identify when demand is spiking, allowing executives to release new content at the right time. They can also use demand data to discover which titles they should acquire or produce to meet opportunities in supply and demand. This insight can help executives release content at the optimal time, maximizing their return on investment.
3. Travelability: Demand data can provide insight into which content is most popular in which regions. For instance, "The Winchesters" received 51% of the demand in United Kingdom that it did in the United States. Using travelability, entertainment executives can identify what content has the most potential to travel globally, helping them to support global SVOD expansion, enabling them to allocate funds to maximize future content investments.
4. Franchisability: Based on demand data, entertainment executives can identify which TV shows have the potential for turning into franchises, or creating spin-offs. Franchisability can help executives further monetize their IP, identifying which content can be developed into a franchise or spun off. By identifying the most successful franchises, television executives can make strategic decisions on future programming.
5. Competitive Benchmarking: Using demand data, entertainment executives can compare how their TV show is performing against others in the market. This data can help executives make smarter programming decisions, for instance, by producing content that is receiving high demand and trending in other regions or markets.
In conclusion, entertainment executives can use demand data to make data-driven decisions. By utilizing demand data, executives can determine the value of their TV show, which titles they should acquire or produce for supply and demand opportunities, optimal release strategy and pricing, and much more. Demand data provides insights that enable executives to make more informed decisions and maximize their return on investment.
