Demand data is becoming increasingly important in the entertainment industry to support content valuation, informed programming decisions and to help platform executives acquire or distribute the right content to attract or retain subscribers. As demonstrated in the case of “The Resident,” demand data offers unique insights regarding the performance and popularity of a TV series, using this data will refine the production, acquisition, and distribution strategy.
One possible question an executive could ask when using the "The Resident" data is how much is this show worth to a streaming platform? Understanding the economic value of a title using Parrot Analytics’ content valuation system based on demand data metrics will help executives make more informed decisions about acquiring or renewing a title. The show's high demand for the last 30 days, outstanding audience demand across global markets, and levels of performance compared to all medical series in the United States mean it has exceptional value on the platform. A more nuanced question then becomes: Can the purchase price, investment, or reward contracts for production be justified by the calculated show's value through its incremental contribution to subscription or retention?
Additionally, demand data can assist executives in optimizing the acquisition and distribution strategy of their content. Studying shows that fans of "The Resident" also like can help with discovering more related content for viewers. Executives can use this information to acquire or develop new shows with an audience that is already engaged, resulting in increased demand and revenue opportunities. Additionally, executives can locate untapped geographic markets for the show, use its existing popularity in a region to analyze demand for similar content in another area.
Additionally, demand data can aid in strategic marketing decision-making. The momentum of the show and its increasing demand were observed in the late July 2023 spike. Executives may opt to take advantage of this trend and invest more in advertising or targeted campaigns to capture newfound interest in the show and increase its presence. It can also provide insight into the best way to release or promote new content to maximize returns. Data on the show's audience tastes can help streaming platforms recommend shows to their viewers, increasing engagement and retention rates.
In summary, The Resident study demonstrated how demand data provides executives with valuable insights regarding the value of content and how it can be strategically distributed to stimulate growth in demand. Utilizing demand data, the executives can invest their resources strategically to procure or renew the right content, create marketing strategies to target specific audiences, produce more of what viewers love, and extend their brand’s reach.
