As entertainment executives, understanding audience demand is crucial for making informed decisions about content acquisition, distribution, and programming. Parrot Analytics’ analysis of "The Resident" provides valuable insights into the show’s performance and audience demand during September 2023 in the United States. Here are a few ways in which demand data can be used to help entertainment executives make more informed decisions:
1. Content Valuation: Parrot Analytics’ content valuation system is powered by global content demand and supply. The system enables content owners and distributors to determine how much to spend on content by revealing the dollar value contribution of any title to any platform. For example, using demand data, executives can calculate "The Resident"’s ROI on any given platform and assess its potential to drive subscriptions or mitigate churn.
2. Programming Decisions: By examining the top 10 global markets where "The Resident" is most in-demand over the last 30 days, executives can make informed programming decisions. For example, executives can use data to determine which markets to target for distribution and marketing purposes. Moreover, understanding how "The Resident" performs within a genre and against other titles available in the market can help executives make decisions on scheduling and programming strategy.
3. Acquisition Decisions: Demand data can help executives determine which titles to acquire and develop by understanding market trends and audience preferences. In the case of "The Resident," executives can observe what other shows fans of the series also like, which can give clues to what similar shows to consider acquiring. Additionally, executives can use demand insights to assess the value of a prospective title for their content library.
4. Distribution Decisions: Globally, content is becoming more accessible than ever, and understanding travelability can help executives assess how "The Resident" and other titles may perform in different markets. For example, travelability can help them evaluate where to allocate international marketing budgets as well as identify regions where the show has stronger demand.
5. Marketing Decisions: Marketing is a crucial element in promoting and sustaining the demand for a TV series. By using demand data, executives can make informed decisions about how to market a show ahead of its release and/or optimize marketing campaigns for a TV series. For example, the momentum of a title can inform executives' marketing strategies to capitalize on increased demand.
Demand data is one of the most valuable tools available for entertainment executives to collaboratively understand audience interests and develop successful content strategies. Whether you’re a platform executive, content distributor, or talent agency, understanding current audience demand will help you make informed decisions and compete effectively in the highly competitive entertainment industry.
