Entertainment executives have a wealth of data at their fingertips when making content, acquisition or distribution decisions. Demand data is a crucial piece of this puzzle, providing insights into what viewers want to watch. For example, let's take a look at the demand data for "Pride And Prejudice" in the United States for January 2024.
Content Valuation:
Using demand data, content valuation systems can be implemented to reveal the dollar value contribution of any title, to any platform, in any region. In this case, we can estimate the value of the "Pride and Prejudice" title using demand data in the US region, revealing its economic valuation at this point in time.
Programming Decisions:
Understanding audience demand data can help make informed programming decisions. For example, executives can use demand data to determine peak viewing times for certain shows and schedule them accordingly. In the case of "Pride And Prejudice," it has decreasing demand over the month; executives can make programming decisions to increase demand, such as scheduling with more strategic marketing efforts in association with upcoming cultural events in the US.
Acquisition Decisions:
Demand data can also guide acquisition decisions; for example, Parrot Analytics evaluates the value of a TV show by how much it is in demand worldwide and across different platforms. Therefore, executives can use demand data to determine how much to spend on acquiring content, revealing the dollar value contribution of the content and its ability to drive audience memberships, reducing churn and engagement across the rest of the catalog.
Distribution Decisions:
Lastly, executives can use demand data to make decisions around distribution. For example, if "Pride And Prejudice" has higher demand in the UK compared to the US, then it should be made more available to audiences in that region. Also, if we look at the top 10 global markets for this title, it is clear which markets perform best, and executives can focus their resources on those regions to ensure better audience engagement.
Thus, using demand data, executives can answer all sorts of questions like content valuation, IP valuation, franchise and spin-off potential, audience preferences, and many more. Demand data informs optimal release strategy, aids in competitive benchmarking, and helps understand taste clusters. By making informed decisions using this data, executives can ensure they are creating, acquiring and distributing content that audiences truly want to watch, keeping them happy, engaged and retained.
