Entertainment executives face constant pressure to make informed decisions about content acquisition, production, and distribution to drive platform growth and optimize audience engagement. This is particularly important in an increasingly crowded streaming landscape where competition for viewership is fierce. The good news is that using Parrot Analytics' demand data to track audience behavior and preferences can empower executives with the insights needed to make more informed decisions that will generate higher returns on investment.
For example, "Friends: The Reunion" provides an illustrative case of how demand data can be leveraged to make critical decisions about content. While the show has generally achieved high demand levels in the United States and globally, demand decreased by 21.7% in January, highlighting a potential concern for executives. However, analyzing the show's rank across genres and identifying top-performing markets like China can help executives develop strategies for capitalizing on the show's success. Furthermore, tracking the show's rolling demand levels can provide key insights into audience engagement and interest over time, informing decisions about renewals, spin-offs, and more.
In terms of content valuation, executives can use demand data to help quantify the economic value of titles to their platform and assess their ROI. For "Friends: The Reunion," its outstanding worldwide audience demand across all platforms and good travelability, momentum, and franchisability serve to increase the show's overall valuation. Additionally, by examining audience demand levels compared to averages for the title genre and time period, executives can more accurately determine the value of a show's performance and relative popularity.
Executives can also use demand data to optimize programming decisions related to marketing, acquisition, and distribution. Understanding audience tastes and preferences revealed through demand trends can inform decisions about supply and demand and which titles to acquire or produce. Demand data also enables optimal release strategy and pricing, as executives can use insights about audience engagement to determine the best way to promote and distribute new content. Additionally, affinity analysis can inform decisions about partnerships aimed at expanding audience reach.
Overall, demand data is a powerful tool that entertainment executives can use to make informed decisions that drive platform growth and audience engagement. By staying abreast of demand trends across different markets, assessing content value using metrics like Parrot Analytics' content valuation system, and optimizing programming decisions using insights from audience demand, executives can develop strategies that appeal to global audiences, increase ROI, and ultimately build a strong and profitable entertainment business.
