As an entertainment executive, understanding audience demand is crucial in every decision you make, be it content valuation, acquisition, distribution, or programming. Parrot Analytics' content valuation system uses audience demand data to provide an economic valuation of any title, to any platform, in any region. Let's take the show "Blue Bloods" as an example and see how demand data can be implemented in some strategic decisions.
Firstly, content valuation uses demand data to assess the value of a title, calculate the ROI a specific title will bring, and estimate the cannibalization of audiences if a title is available on multiple services. Since "Blue Bloods" has 22.2 times the audience demand of the average show in the United States over the last 30 days, its value is undoubtedly outstanding. However, it's essential to keep track of the show's decreasing demand trend.
If an executive wants to acquire or distribute "Blue Bloods," understanding its popularity across the globe and which international markets have higher demand than others is critical. According to the data, "Blue Bloods" is most in-demand in the United States, Canada, Brazil, United Kingdom, Germany, France, Turkey, Netherlands, and Spain. Knowing this, executives can decide which platforms/networks to target for distribution and which markets to focus on expanding in the future.
Using demand data, an executive can also optimize their release strategy, pricing strategy, and content discovery strategy. For "Blue Bloods," audience demand increased by 4.8% in January 2024 in the United States. However, demand spiked in late January, indicating that a different release schedule, marketing campaign, or pricing strategy could improve engagement.
Demand data also helps with subscriber retention and acquisition. Executives can analyze audience demand data for "Blue Bloods" to determine which titles should be acquired or produced, which titles should be prioritized to keep their current audience, and which titles should be bought to attract new subscribers.
Overall, by incorporating demand data into their decision-making process, entertainment executives can make more informed content decisions that lead to improved business outcomes. For "Blue Bloods," executives can use demand data to optimize their content strategy to keep up with the changing audience demand trends and maximize the value of the show as an asset for a streaming platform.
