As an entertainment executive, you are always on the lookout for the next big hit or the most valuable content that will attract and retain users on your platform. Demand data can help you make more informed content, acquisition, distribution, or programming decisions. By using demand data, you can accurately measure how well a title is performing and how much it is contributing to the platform's bottom line. Let us use "Modern Family" as an example and see how demand data can be used to make strategic decisions.
Firstly, we can see that "Modern Family" has 22.4 times the audience demand of the average show in the United States over the last 30 days, and only 2.7% of all TV shows have this level of demand. We can use this demand data to value the content, calculate the ROI a specific title will bring for any given platform, assess a TV series' ability to drive subscriptions and mitigate churn, and estimate cannibalization of audiences if a title is available on multiple services. Additionally, we can determine how much is the show worth and how much of the show's value is being driven by demand for one of its stars.
Secondly, we can use demand data to map local whitespace and determine which types of content exhibit opportunities to acquire or produce. In the case of "Modern Family," we can see which shows it is being compared to, and which intriguing elements of the show's content may be driving the demand. We can also determine which titles should be acquired to keep the current audience happy and which titles should be acquired to grow the audience.
Thirdly, we can use demand data to inform optimal release timing, pricing, and promotion strategies, not only internationally but in individual markets. In the case of "Modern Family," we can observe when demand spiked in the US and in which markets, and tailor pricing and promotion strategies around that data.
Lastly, we can use demand data to inform franchise and spin-off opportunities, marketing campaigns, and select IP development decisions. In the case of "Modern Family," we can see that its franchisability (spin-off potential) is exceptional, and we can use this data to further monetize and expand the IP either through spin-offs or franchising. We can also use affinity analysis powered by demand data to determine the best talent or brand to partner with to expand the audience. Furthermore, we can use demand data to inform pre-release marketing for upcoming seasons or spin-offs.
In conclusion, there are many important decisions that entertainment executives make every day that can be informed by reliable demand data, ranging from content valuation and acquisition to promotional strategy and franchise development. In using timely and comprehensive demand data, you can make more informed and effective decisions, which will help you to stay ahead of the curve in a rapidly evolving industry.
