Is Your Audience Going Deep or Staying in the Shallow End of the Pool?
Healthy subscription services typically have a good distribution of views across a meaningful portion of their library. To understand how deep customers are engaging in your library, we provide a really simple, and powerful key metric; Percent Library Viewed (Fig. 1).
This calculates the percentage of total titles that have views in the past 30 days and is a great way of thinking about how effective the long tail portion of a library is at engaging customers. If a large portion of the library sits fallow each month, this suggests opportunities to trim the library and/or promote undiscovered content. It also suggests that the service may be too reliant on a few hits. Conversely, if the majority of the library is explored every month, that is a healthy sign that the library is well constructed for the audience, and that licensing additional new content probably makes sense.
How Fresh is Your New Content?
Speaking of new content, it’s important to measure whether new additions to a library are having an impact. We provide visibility into this with a key metric that measures the percentage of users watching new content, which are titles that have been added to the library in the previous two weeks prior to viewing.
This is an easy way to measure whether your content licensing, publishing calendar, and promotion are well aligned with your audience. This number typically trends lower for one of two obvious reasons. First, new content is not being added so users are pushed towards older content. Second, new content added is not compelling to a meaningful audience segment. Both scenarios demand attention since a downward trend in this metric is generally correlated to a downtick in overall engagement and an uptick in cancellations.
Is Your Content Mix a Recipe for Success?
Because we keep track of both the content in a library and its attendant consumption, we are able to show those two things side by side. This makes for a very intuitive view of how your library is constructed and how your audience engages with it. We call this wicket the Library Breakdown.
What this wicket illustrates quickly is where there are imbalances between the portion of the library that a genre represents vs. consumption of content in that genre. In the example above, the clear messages are that Action/Adventures need to be promoted more, or that genre needs to be slimmed down, and that it makes sense to license and promote comedy titles.
Used together these tools can provide valuable insights into understanding how to optimize your content library and promote it most effectively. This has immediate implications in terms of customer communication and can have a longer-term positive impact on content licensing and curation. If you’d like to learn more about how Wicket Labs can help you better understand and optimize your audience’s relationship with your catalog, please drop us a line!
Tags: content engagement • content library • subscriptions