Good Eats is a unique show that combines classroom methods and comedy sketches to teach the audience how to cook different dishes. The show has a consistent high demand in the United States, and only 2.7% of all TV shows have a similar level of audience demand. Through examining the performance of Good Eats using Parrot Analytics demand data, we can learn about the impact of demand on decision making in the entertainment industry.
Content valuation is an economic valuation system powered by global content demand and supply. It enables you to determine how much a content library is worth to a streaming platform over time, how much a series is worth, and how much of its value is being driven by demand for one of its stars. With demand data, it is possible to calculate the ROI that a specific title can bring for any given platform, assess a TV series' ability to drive subscriptions and mitigate churn, and estimate cannibalization of audiences in case of working in multiple services. Specifically, demand can help decide which titles to buy for subscriber acquisition, or retention of existing subscribers, and for keeping the platform's audience happy.
Demand data enables content valuation and helps entertainment executives make informed acquisition decisions. For instance, using demand data, a company can find out how much Good Eats is worth to another streaming platform. Plus, examining the top 10 global markets interested in Good Eats over the last month allows performance analysis in different regions, resulting in enhanced distribution decisions. A TV executive may learn that the best market for Good Eats is the United States, and, therefore, it may focus its effort on distributing the show in this region rather than Australia, where demand is okay.
Furthermore, by leveraging demand data, producers and studio executives can determine which elements of existing content fans like the most. Therefore, help OTT or SVOD platforms produce optimized content for their target audiences. In the case of Good Eats, understanding that audiences love learning and laughing while cooking provides insights into what content areas to focus on when creating similar cooking shows.
When it comes to franchisability, spin-off potential is measured using demand data. Good Eats has an okay level of franchisability. However, the demand for its spin-off is still noteworthy. In this way, investigating which shows that fans of Good Eats also like, such as "Forged In Fire" or "RuPaul's Drag Race," can help production companies determine what IP to develop to create franchises, and thus monetize their portfolio better.
In conclusion, demand data helps with content valuation, making acquisition, distribution, and programming decisions. In the case of Good Eats, reliable demand data shows that the show has a consistent high demand in the United States and other regions, a great achievement for a show that ended airing over a decade ago, presenting an opportunity for studios to wrap it up with the positive publicity and release it in regions where it is highly demanded, and focus investment in other countries where demand is not quite there yet.
