As an entertainment executive, you have to make informed decisions about the content you create, acquire, distribute, and program. Demand data can assist you to make data-driven decisions. In conjunction with a practical example, this article highlights the questions you can answer with demand data to make informed content decisions.
The example in this article is of "The Voice (RU)" for the month of December 2023 in the United States. This TV show has maintained good demand with 3.8 times the audience demand of the average show in the United States over the last 30 days, and currently, only 8.6% of all TV shows achieve such audience demand. Demand for the show has been decreasing recently; decreased by 18.5% in December in the United States. Comparing the performance of "The Voice (RU)" on a 1-year rolling basis versus the last 30 days reveals some interesting insights. Although the show peaked in demand (4.9 times the average demand) during the year, it peaked at 4.7 times the average in the last 30 days, which shows increased popularity.
Demand data can help executives answer several questions related to content valuation, for example, how much is my show worth? Parrot Analytics' content valuation system is provided based on demand data. Quantifying the platform-specific marginal revenue contribution is also possible, which shows how a title drives engagement across the rest of the catalog, and calculates the ROI a specific title will bring for any given platform. Additionally, it is simpler to estimate the cannibalization of audiences if a title is available on multiple services and the value of exclusivity by analyzing the data of the demand and the revenue of the title.
Demand data enables TV executives to identify under-monetized titles, which presents an opportunity to find new opportunity markets for content distribution or grow the current demand in underperforming markets. By assessing the show's popularity in the top 10 global markets, an executive can decide to exhibit or distribute the show in a particular market. For instance, "The Voice (RU)" has outstanding audience demand in Russia, making it the number one market globally for the show.
Additionally, demand data can help executives make more informed decisions for subscriber retention and acquisition by answering questions such as which titles will keep their current audience happy and which titles will attract new subscribers to the platform, respectively. Another way to utilize demand data is to choose the best release strategy and pricing for the program and determine how the pre-release marketing campaign for the new season can be optimized. Affinity analysis powered by demand data can help executives select the best talent or brand to partner with to expand their audience.
Finally, executives can implement competitive benchmarking with the data collected from demand analysis, comparing "The Voice (RU)" against other titles available on the market. Furthermore, the data can also be used to identify scalable concept testing for existing or upcoming content.
In conclusion, demand data is essential for executives to make data-driven content decisions. Parrot Analytics' content valuation system helps to answer questions related to content valuation and audience demand, enabling TV executives to identify under-monetized titles, retain and acquire subscribers, decide on release strategies and pricing, choose to distribute to markets with high demand, make informed decisions on competitive benchmarking, and scalable concept testing for existing or upcoming content. The demand data for "The Voice (RU)" illustrates how demand data can be utilized and the type of insights it can provide.
