How Data Analytics knew before filming "House of Cards" you would love it
Martin Weidemann
Artificial Intelligence | AI | Digital Transformation | Fintech | Payments | Credit & Lending | Change Management | Innovation | Insurance | Director | Head | IT | Strategy | Data Science | Google | IBM | SAP | Certified
After such a politics-loaded weekend, I found a cross between a high-tech term, "data analytics," and a favorite TV show with a great audience and a great plot behind it: "House of Cards."
For those unfamiliar with the show, it's a political drama that follows the ruthless and cunning Frank Underwood, a U.S. congressman who, alongside his equally ambitious wife Claire, manipulates and schemes his way to power in Washington, D.C. The show explores themes of power, corruption, and betrayal within the American political system.
A great plot indeed, but even more surprising is the process of how?Netflix ?created this TV show. The show's success was not a result of luck. It was a calculated move by a company that understood its audience's preferences and viewing habits.
Before, decisions about TV shows were made based on gut feeling and experience. Now, data is king ??.
Netflix analyzed 30 million “plays” daily, including when users pause, rewind, or fast forward, and three million searches and other activities. This data helped Netflix predict that the show would be a hit, and they were right! ??
The result? "House of Cards" attracted 4.5 million new subscribers in the first quarter of 2013, a 24% increase over the previous year. ????
Going deeper into it, How do they do it?
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1?? First, Netflix used big data to identify David Fincher fans, likely to be Kevin Spacey fans and lovers of the British version of "House of Cards." It was a calculated risk that paid off big time, with Netflix investing $100 million for two seasons upfront. ????
2?? Next, the streaming giant used its data analytics to tailor the marketing of the series to different segments of their audience. For instance, fans of Kevin Spacey saw trailers featuring him, while those who watched movies directed by David Fincher saw a trailer that emphasized his involvement. This personalized marketing strategy led to a high viewership and a surge in subscriptions. ????
3?? Lastly, data analytics also played a significant role in the decision to release all episodes at once, a move that was well received by binge-watchers worldwide and has since become a Netflix signature. ????In conclusion, Netflix's use of data analytics to launch "House of Cards" was a game-changer, proving that data-driven decisions can lead to massive success in the digital world. ????
Next time you turn on Netflix to watch your favorite TV show, maybe Netflix created the whole TV show, knowing the segment you are in will love it.
Now, let's flip the coin. ?? While data analytics has its merits, it's not a magic wand. It can't guarantee a hit every time. Remember the Marco Polo series? Despite being armed with data, Netflix's $200 million investment didn't pay off, leading to its cancellation after two seasons. ????
In conclusion, data analytics is a powerful tool, but it's not foolproof.
Want to go deeper into this case? Have a look at the full article here: https://weidemann.tech/how-netflix-used-data-analytics-for-launching-house-of-cards/
#DigitalTransformation #DataAnalytics #Netflix #HouseOfCards #BigData #SuccessStory
Artificial Intelligence | AI | Digital Transformation | Fintech | Payments | Credit & Lending | Change Management | Innovation | Insurance | Director | Head | IT | Strategy | Data Science | Google | IBM | SAP | Certified
4 个月https://weidemann.tech/how-netflix-used-data-analytics-for-launching-house-of-cards/