As an entertainment executive, you are constantly making strategic content decisions, and this is where demand data comes in. Take the example of "MasterClass," an online education platform, in the United States in October 2023. By looking at its performance and comparing it to other titles, executives can use demand data to make informed decisions. Here are some ways demand data can be used:
1. Content Valuation: Based on the audience demand for a title, executives can determine the value of the content to their platform. For instance, if "MasterClass" has a high demand compared to the average show, executives can conclude that the content is valuable to their platform. Further, if "MasterClass" outperforms other shows in the reality genre, executives could conclude that "MasterClass" has high intrinsic value to their network.
2. Audience Insights: Executives can use demand data to obtain insights into the audience's preferences. For example, Parrot Analytics' content valuation system shows that fans of "MasterClass" are also interested in "Gabriela Camara Teaches Mexican Cooking", "Paul Krugman Teaches Economics And Society", "Annie Leibovitz Teaches Photography", among other shows. By gaining insights into what their audience likes, executives can make better programming and acquisition decisions.
3. Longevity: Demand data can help executives determine how a show has held up since it premiered. For "MasterClass," the show has held up exceptionally well over time, indicating that it has sustained audience demand. By examining how well an older show is performing, executives can decide whether to add it to their catalog to retain customers.
4. Franchisability: By examining the spin-off potential of a title, executives can determine whether to monetize it further. For "MasterClass," Parrot Analytics' data shows that there is exceptional franchising potential. At this point, executives can consider the development of spin-offs to monetize the content further and expand their audience base.
5. Travelability: With travelability, executives can use demand data to determine international demand relative to a title's home market. For "MasterClass," it is outstanding, indicating that the content could have excellent international distribution potential. By using data to identify a show's travelability, executives can expand their content distribution to new markets.
Overall, demand data enables executives to make informed content decisions. From content valuation to longevity, franchisability, travelability, and audience insights, executives can leverage Parrot Analytics' demand data to make better programming, acquisition, and distribution decisions. Demands for 'MasterClass' in the US have increased a lot recently, providing excellent opportunities for executives to capitalize on its popularity.
