As an entertainment executive, understanding audience demand data and using it for strategic decision-making is critical. Let's use the example of "Queen Charlotte: A Bridgerton Story" in November 2023 to explain how demand data can be used to make informed content decisions.
Content Valuation:
One way demand data can be used is to evaluate the monetary value of a title. Using Parrot Analytics' content valuation system, we can determine the dollar value contribution of "Queen Charlotte: A Bridgerton Story" to any platform in any region. This can help TV executives understand how much to spend on content and assess a TV series' ability to drive subscriptions and mitigate churn.
Programming Decisions:
Demand data can help executives make better programming decisions by identifying popular genres and the most popular titles in any market. For example, in November 2023, "Queen Charlotte: A Bridgerton Story" is at the 97.5th percentile in the romance genre, higher than 97.5% of all romance titles in the US, and fans of the show also enjoy similar titles such as "Ted Lasso" and "Game of Thrones." These insights can help programming decision-makers plan content acquisition or create new content.
Distribution Decisions:
Demand can be used to make better distribution decisions, as it highlights which platforms a title is popular on. For instance, comparing the performance of "Queen Charlotte: A Bridgerton Story" on a 1-year rolling basis versus the last 30 days reveals that its number one global market is Russia. By understanding the top 10 markets where the show is most in-demand, global streaming services can make informed distribution decisions to expand their reach.
Acquisition Decisions:
Demand data can help content distributors make better acquisition decisions. For example, identifying lesser-known titles with high audience demand gives executives insight into which titles they can acquire for under-monetized markets, as well as which titles they can distribute to help drive customer retention.
Marketing Decisions:
By tracking demand spikes and global performance measurements such as momentum, executives can make better marketing decisions and optimize campaigns ahead of premieres. The demand for "Queen Charlotte: A Bridgerton Story" spiked in mid-November 2023, indicating that content creators can capitalize on such surges to drive demand and optimize their marketing campaigns.
In conclusion, demand data is essential to making informed decisions for entertainment executives. It can be used to help create, distribute, monetize and market content. TV executives should use demand data to understand audience preferences, identify popular titles, and plan acquisitions, programming, marketing, and distribution strategies. By utilizing the right data and analytics tools, entertainment companies can drive growth, mitigate churn, and foster customer loyalty while meeting audience demand for new, engaging content.
