In today’s fast-paced and ever-evolving entertainment landscape, the strategic management of IP and library content has become more crucial than ever for studios, networks, and streaming platforms. The ability to discern which titles have inherent demand and recognizability is instrumental in making informed decisions regarding development, programming, licensing, ultimately maximizing return on investment (ROI).
The Value of Recognizable IP
The competition for viewer attention has intensified, prompting entertainment companies to delve deep into their content archives to identify valuable IPs. Recognizable IP not only helps in revitalizing brands, but also taps into latent demand for beloved library content among specific audience segments. This strategic approach enables companies to resonate with their target audiences and monetize existing content associated with established IPs.
Analyzing and Revitalizing Old IP
While leveraging existing and valuable TV and film IPs for new content is a well-established strategy, the challenge lies in navigating vast content libraries to pinpoint titles with the highest potential for licensing ROI or successful reboots. This is particularly daunting when dealing with old or dormant IPs, where there is often a scarcity of data available for informed decision-making.
The Data Dilemma
One of the key obstacles in this landscape is the absence of a systematic method to harvest demand data for library TV shows or movies. Without a steady stream of relevant data that analyzes fan engagement and addresses current viewing urgency at the title level, entertainment companies face difficulties in gauging the true potential of their content library.
What Data is Needed to Understand Demand? Sentiment at Scale
The introduction of a new solution from Whip Media’s Fan Pulse data platform, called Fan Feedback Tracker, aggregates real-time feedback from a global community of content enthusiasts. This game-changing solution leverages the “always on” TV Time app with a community of millions of active content enthusiasts around the world providing real-time feedback and thousands of data points on a company’s IP content.
Imagine the power of having millions of voices guiding a development team’s next project. Unlike social listening data, which often confuses “chatter” for “demand,” FFT is designed to provide more actionable results by focusing on the quality and relevancy of its respondents to offer an unparalleled view of the demand for content—including ‘hard-to-reach’ deep catalog titles. The future of content development and distribution decisioning must include perspectives from audiences themselves, rather than relying on systems that are solely ranked on proxy data for user sentiment and opinion.
Global Demand Example – Modern Family
Let’s take a look at this example.
What does the travelability look like for Modern Family? Where is the most, or least, viewing desire across key territories to bring back or distribute this completed library series?
Demand for Modern Family has higher marks among each international country sampled (except for France)when compared with the 55% affirmative response rate from US audiences. We surmise that this popular American sitcom television show, which ended in 2020, simply has more room to penetrate global audiences. Demand for Modern Family is strongest in LATAM compared to key EMEA markets, particularly in Mexico (68%). In Europe, we also see greater interest in bringing Modern Family back compared to the US, with Spain (60%), Italy (59%), the UK (59%) and Germany (58%) topping the list.
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