In today’s viewing world what is the measuring stick for popularity? Is it TV audience viewing statistics? Youtube views? Social Media engagement? Streams? Downloads? Number of saves on to a DVR? Or is it a combination of some or all?
I think it is much easier in today’s world, for media companies to camouflage poor performing programmes by using different statistics to the old fashioned TV audience statistics or by using a combination of statistics.
If you ask most companies that produce programmes the figure that will be most important internally is the TV audience figure, as that is what can make them the most money, if those figures are high they can sell their programme for a higher value to a TV station, without it they have little chance of making good money.
When companies find ways to make putting content on Youtube more profitable and ways to make more money out of social media engagement then these will be very important areas to grow but I don’t think we are quite there yet.
TV production companies want to make the most money they can per viewer to their programming so this is where Youtube and Social Media can help in an indirect way. By boasting big numbers in these areas, they can use these to help in negotiations with TV companies to squeeze more revenue from the channels and networks.
Nowadays programmes are licensed to the big providers like Netflix and Amazon on a revenue per stream deal, so if no one watches your programme you don’t make anything. This is why I love the streaming market as although the revenue per stream should possibly be higher at least then a programme gets a fair revenue based on its viewership. Some TV stations have been stung in the past by paying big bucks from programming, for it to not to deliver the numbers that they expected for their outlay.
The problem with media is that in a lot of instances you have to speculate to accumulate and although you can have great research to back up a theory on why a programme is going to be successful, until the numbers are in you can’t take anything for granted. Thankfully all sides of the media have to do this from the Production Companies that fund programme creation to the channels that acquire it.
There are a lot of shows on TV but few runaway successes and I think everyone in the media game has to remember that.