In recent years, Netflix's original "Stranger Things" has become a pop culture phenomenon with cult-like following. However, even with a hit title like "Stranger Things," this doesn't guarantee success in the long-run. Entertainment executives need to continue to assess the show's popularity and audience demand to determine how much value it generates. Parrot Analytics is a platform that can help executives make data-driven decisions by answering questions such as:
1. How popular is my show relative to the market average, and how much is my show worth to a streaming platform?
By analyzing the demand of "Stranger Things" in the United States for the month of July 2023, the show had 49.8 times the demand of the average show over the last 30 days. This indicates that this show has high demand and is worth investing in or acquiring. "Stranger Things" ranked at the 100.0th percentile in the drama genre, indicating the show's higher demand than 100.0% of all drama titles in the United States.
2. What can I learn about my current audience, and how can I ensure my content is being seen by the right audience on my platform?
Based on Parrot Analytics' data, fans of "Stranger Things" also like shows such as "The Witcher," "House Of The Dragon," and "Black Mirror". Executives can leverage this information to improve the show’s reach and target specific audiences with similar preferences.
3. How can I assess a TV series' ability to drive subscriptions and mitigate churn?
Audience demand for “Stranger Things” in the United States decreased by 24.8% during July 2023. This shows that though the show is still popular, efforts to keep audiences interested have to be fine-tuned because the show’s decreased demand suggests that it may no longer drive subscriptions or mitigate churn as effectively as it once did.
4. How can I optimize my marketing campaign ahead of premiere, and how effective is my marketing campaign around a show?
One way to understand how effective advertising is for a TV series is to measure its momentum, the pace of growth. The momentum of "Stranger Things" is good, suggesting that previous marketing efforts have been successful in generating interest. However, there should be a continued effort to manage demand fluctuations that can come with being a long-running series.
Knowledge of these insights from demand data - and others gained from audience demand analytics - can help entertainment executives to evaluate the value of their content accurately, define more intentional strategies and make more informed decisions about acquisition, distribution, programming, and content choices.