Television executives, entertainment companies, and production companies can utilize demand data to make informed content decisions. The Parrot Analytics content valuation system uses demand data to answer questions and offer insights into how much a TV series is worth and how much revenue it is contributing to a platform in a specific region. "The Good Place" is an excellent illustration of how demand data can be used to make content decisions and acquire or distribute programming.
Content valuation: With audience demand levels 17.3 times higher than the average, "The Good Place" is an extremely high-value IP. Parrot Analytics' content valuation system is based on global content demand, assisting those decision-makers in determining how much to spend on content acquisition, production, and distribution. The system can determine the economic value of a title in a particular region and reveal how much it contributes to a platform's subscription numbers.
Regional audience demand: Knowing which title is the most popular in a market or globally is important for making informed content decisions. Therefore, executives can use demand data to learn which genres resonate with audiences in specific regions, enabling them to acquire, produce and distribute programming that can attract subscribers to their streaming services.
Supply and demand: By examining audience demand data, decision-makers can determine which type of content will be successful and should be acquired or produced. For instance, if the demand for romance has increased, OTT platforms can be proactive and acquire or produce programming in that genre.
Subscriber acquisition: Companies, such as SVOD, can better attract new subscribers by analyzing demand data to see which titles its audiences like. Using demand data to understand which titles to buy, they can ensure that they have programming that caters to the audience's tastes, retaining and growing the subscriber base.
Subscriber retention: The content acquisition team can acquire programming that keeps the audiences happy and meets the demand requirements. By using audience data for TV series like "The Good Place" that has an outstanding demand, OTT platforms can attract and keep subscribers engaged in the long run.
Franchise development: Audience data, such as what elements are liked the most by fans of the series, can give insights into how they can monetize IP for the show or create spin-offs or franchises, which can further increase audience engagement with the franchise.
Marketing Optimization: TV executives and marketing personnel can use demand data to optimize their marketing campaigns to promote a show pre-premiere successfully. Knowing when the audience demand is spiking can help them plan their pre-release marketing for the TV series.
In conclusion, the data analysis of "The Good Place" from Parrot Analytics shows the power of demand data to inform strategic decision-making by TV executives. Understanding audience data can help them determine their content valuation, acquire or produce programming that appeals to their subscriber base and grow their audience through optimized marketing campaigns. Demand data enables companies to stay ahead in an ever-changing television landscape and make successful business decisions.
