Demand data offers a wealth of information for executives tasked with decision-making for content, acquisitions, distribution, or programming. The December 2023 United States case of "Forbidden History" can help us illustrate how demand data can be used strategically.
Content valuation is central to most decision-making processes of entertainment executives, and demand data provides a crucial insight into content valuation. In the case of "Forbidden History," audience demand has been increasing recently, and the show has 2.7 times the average show's demand in the United States, indicating that it is a popular title. Its ranking has also improved significantly throughout December in the country. "Forbidden History" has higher demand than 93.3% of all documentary titles in the United States. To determine its value, executives can compare the show's demand to that of other documentary titles in the market and ascertain its dollar value contribution to any platform.
Another key question executives face concerns supply and demand, that is, what type or genre of content will resonate with the audience and drive acquisitions or production. By analyzing the target market's demand patterns, executives can understand the popularity of a genre or type of content in a particular market. For instance, fans of "Forbidden History" also like shows such as "The Unxplained," "Expedition Bigfoot," and "Food Unwrapped." They enjoy content that plays on hidden treasures, conspiracy theories, and lost civilizations, meaning executives can produce or acquire similar content that appeals to them and resonate with the audience.
Demand data can also help executives determine which content to prioritize to drive subscriber acquisition and retention. For instance, through measuring the show's demand, executives can understand its ability to attract new subscribers or retain current audiences. "Forbidden History" has a 58.5% increase in demand in the United States in December, indicating it can attract new subscribers. This data will help executives make informed decisions about which content to license or produce.
Franchisability and travelability are also important dimensions for executives to consider, and demand data offers insights into these two metrics. In the case of "Forbidden History," franchisability (spin-off potential) is poor, meaning executives might consider other content types or genres for which it is easier to create spin-offs or monetize IP, while travelability is poor, suggesting the show's international demand is low. In contrast, other dimensions, such as momentum and reach, are okay, signifying that the show's pace of growth and fan base are decent.
Lastly, demand data can be used to optimize a show's marketing strategy. By analyzing the show's demand patterns, executives can make informed decisions about when to release the show, what marketing channels to use, and how to price the show. For instance, analyzing the peak demand and the target audience's demographics can identify the best release window and channels.
In conclusion, demand data is a critical tool for executives seeking to make informed decisions about content, programming, distribution, and acquisitions. By analyzing the target market's demand patterns, executives can ascertain content valuation, prioritize content, analyze content performance over time, determine supply and demand, and optimize pre-release marketing, among others. "Forbidden History" represents an excellent example of how entertainment executives can strategically use demand data to make informed decisions.
