As an entertainment executive, you may be interested in using demand data to make more informed decisions regarding your content. Take the case of "Laramie", a TV show set in the Wyoming Territory, where Slim and Andy Sherman try to hold on to their ranch after their father's death. Using Parrot Analytics' demand data for "Laramie" in the United States for the month of November 2023, we can demonstrate how demand data can be helpful in making content decisions.
One of the most critical decisions for entertainment executives is content valuation. Demand data plays a vital role in determining the value of a TV series and its content. Demand data can answer several questions such as a TV series' overall worth, its value relative to stars featured within it, and its baseline value. By using demand data to determine a title's value to various platforms, you can make more informed decisions on how much to spend on content and improve ROI.
Another important decision influenced by demand data is acquisition decisions. Understanding what content is popular in your market can be difficult, but demand data can provide insight. You can use demand data to identify what genres and content have the most audience appeal and can help you decide which titles to acquire or produce. Additionally, demand data can help identify under-monetized titles so that you can find new market opportunities and expand distribution.
Programming decisions can greatly benefit from examining demand data. Understanding what titles perform well and how to optimize release strategy and pricing can significantly impact the success of your programming. You can also use demand data to better understand your current audience and to gauge the potential of your upcoming productions. Affinity analysis, which is driven by demand data, can assist in identifying talent, brands, and content that align with your audience, attracting and retaining subscribers.
Distribution decisions, such as where to distribute your content and to which platforms, can also benefit from demand data. If you have access to market demand data globally, you can decide which platforms to target for the distribution of your content. Moreover, mapping local whitespace can help identify which content is in-demand in individual markets, giving you insights into the potential for global expansion.
By examining "Laramie", we can see that it has a good demand, with an increase in demand in the last 30 days. It has a higher demand than 90.9% of all drama titles in the United States, and demand spiked in late November 2023. Using the Parrot Pulse, we can learn that the show's longevity, the measure of how well audience demand is maintained over time, is good. Momentum, the pace of growth, is okay, and there are opportunities for growth in other areas such as franchisability and reach. Comparing the performance of "Laramie" on a 1-year rolling basis versus the last 30 days shows interesting insights. There was a 42.7% increase in peak demand for the last 30 days, but the average demand decreased, indicating a need for further audience engagement measures.
Overall, evaluating demand data provides a holistic view of the content value, which previously was not possible. Demand data allows for insights into content valuation, acquisition, programming, distribution decisions, and much more. Entertainment executives who analyze demand data effectively have a strategic asset that will optimize financial ROI, reduce risk, and adapt effectively to evolving times.
