As an entertainment executive, understanding audience demand through analytics is crucial for making informed content and business decisions. Let's use "Grimm" as an example of how demand data can be used to help make more strategic content decisions.
Content Valuation: Using demand data we can calculate the value of "Grimm" to any given platform, by determining the contribution of the title in terms of dollar value and how it drives engagement across the platform. In the United States over the last 30 days, "Grimm" had 11.1 times the audience demand of the average show, indicating it is worth 11.1 times more. This level of demand shows that "Grimm" is a valuable strategic asset for any streaming platform.
Subscriber Retention and Acquisition: Demand data can help answer the questions of which titles to acquire or produce in order to keep current audiences happy or to grow a new audience. The shows most frequently watched by those who watch "Grimm" can help understand what genres are resonating most with the audience. Also, popularity changes over time, so supply and demand insights are useful in determining which titles should be added or dropped from the platform to keep subscribers engaged.
Optimal Release Strategy: Knowing when there is a spike in audience demand for a show can aid in releasing new content at the optimal time. Using the increase in demand in late October 2023 as an example, a release during the increased demand would lead to more engagement as the audience's interest in "Grimm" was high at that moment.
Marketing Campaign Optimization: The demand data can aid in optimizing marketing campaigns before a show's premiere. The momentum metric, which measures the pace of growth in audience demand, can help determine the effectiveness of the marketing strategy applied and whether it's reaching the desired audience.
Franchisability: Spin-off potential can be assessed using data on how other shows sit in relation to "Grimm" in audience demand, popularity, and metadata like genre or talent. In the case of "Grimm", it has outstanding franchisability, indicating fans of the show would likely tune in to related spin-offs.
Overall, demand data can be used to make informed decisions with content acquisition, programming decisions, and distribution decisions, such as what titles to acquire, what the best release strategy would be and how to optimize marketing. With 11.1 times more audience demand than the average show, "Grimm" has clearly shown that demand data is essential in establishing the value and success of a show in the market.
