Entertainment executives have a lot to consider when making content decisions, such as how much to spend on a show, where to distribute it, and what marketing strategy to use. Using demand data can help them make more informed decisions and ensure that they are maximizing the value of their content. Let's take the example of "Friends: The Reunion" in December 2023 in the United States and see how the executives can use the data:
1. Content Valuation: Parrot Analytics' content valuation system uses demand data to assess a title's dollar value contribution to any platform in any region. Executives can use demand data to determine how much a title like "Friends: The Reunion" is worth, how much it can drive subscriptions, and how much value it can bring to the platform.
2. Programming Decisions: The demand data can help executives with programming decisions, such as the best release strategy for a show or series. For instance, considering the demand spike in late December for "Friends: The Reunion," executives could look into what drove the spike and see if they can replicate the conditions for future releases.
3. Acquisition Decisions: With content acquisition, executives can use demand data to identify opportunities for bringing in new content and what type of content would best fit the platform. A platform may also use the data to assess the value of content they are considering purchasing.
4. Distribution Decisions: Knowing what regions your content is most popular in and what markets are showing the most demand can help with distribution decisions. When executives know where their content is in demand, they can target these regions to boost their engagement and acquire new audiences.
5. Marketing Decisions: Executives can use the demand data to inform marketing decisions about upcoming releases and how to optimize marketing campaigns to attract and retain their audience. For "Friends: The Reunion," marketers can focus on the fact that this show has a large and global audience, and use popular shows like "The Boys" and "Game of Thrones" to attract similar audiences.
Using the Parrot Pulse for "Friends: The Reunion," executives can look across dimensions like travelability, longevity, momentum, and franchisability and see where the show is doing well and where improvements could be made. With this comprehensive understanding of their content's performance, entertainment executives can make more informed decisions about their content. They can leverage demand data and analytics to optimize their decisions, mitigating risk and increasing the value of their content portfolios.
