As an executive working in the entertainment industry, you can expect to receive an abundance of viewer data. However, making sense of this data can be overwhelming without a clear strategy. Using "Saturday Night Live" as an example, here are some ways that demand data can provide insight for more informed content-related decision making:
Content Valuation: One of the most important questions that executives ask is how much a series is worth. The demand data surrounding "Saturday Night Live" reveals that this show exhibits exceptional audience demand of 73.2 times the average show in the United States over the last 30 days. This information allows executives to measure the dollar value of this series' contribution to any platform, in any region. Moreover, they can calculate the Return on Investment (ROI) that this title will bring to any platform, which consequently helps in decision-making regarding content acquisition and distribution.
Audience Retention and Acquisition: Another key question revolves around which titles to buy to retain or grow the current audience. According to demand data, audience demand for "Saturday Night Live" has increased in the United States by 10.4% in February 2024. In addition, this show ranks number 2 in the United States, and 100.0% in the comedy genre, indicating impressively high demand. By examining the top 10 global markets where this show is most demanded, execs could capitalize on demand spikes and prioritize what markets to enter. Consequently, this data informs both audience acquisition and retention strategies.
Optimal Release Strategy and Pricing: With the help of demand data, entertainment executives can determine what release strategy and pricing to implement. For instance, the demand spike for "Saturday Night Live" in late February 2024 could inform executives that a more strategic release date could be chosen to coincide with upcoming holiday weekends or popular cultural events. Furthermore, examining audiences' demand in different regions provides the necessary insight into what price point is suitable for each region.
Discovery and Recommendations: With information about audience demand and taste clusters, entertainment execs can ensure that their content is being seen by the right audience on their respective platforms. With "Saturday Night Live" as an example, executives could build a recommendation engine that suggests similar shows to viewers of "Saturday Night Live" like "Rick And Morty", "Brooklyn Nine-Nine", "The Mandalorian", "Final Space", and others, based on their similarity metrics.
Travelability: Travelability, one of the six dimensions of the Parrot Pulse that measures a show's international demand relative to its home market, can be calculated based on audience demand data. In the case of "Saturday Night Live," the show has an exceptional worldwide audience demand across all platforms, and its travelability and franchise potential are both exceptional. This information can inform decision-making regarding content acquisition and develop a content strategy for expansion into international markets.
In sum, demand data plays an essential role in providing valuable insights that are crucial for decision-making in the entertainment industry. With the help of demand data, executives can optimize content-related decisions, capitalizing on audience demand, and positioning themselves for profitable decisions.
