Where Does Actionable Streaming Data Come From?
What are some of the most effective ways to use streaming data? Nadine Krefetz, Consultant, Reality Software, Contributing Editor, Streaming Media, talks with Damian Pelliccione, CEO / Co-Founder, Revry, and Jeff Annison, Co-Founder and President, Legion M, about how their organizations gather and best apply streaming analytics.
Krefetz begins by asking Pelliccione if Revry gets much of its data from advertising sales.
“Absolutely,” Pelliccione says. “We have data and performance from our header bidder solution. We work with Springer and Publica…we stopped spending on social because social for us can be problematic. I'm sure folks know we have a lot of hate speech when we just post a general marketing ad on places like Facebook or Google…” They note that Revry has instead focused more on advertising analytics data to gain better audience insight. “We're taking seats on the demand side platforms (DSPs),” they say. “And we're spending our money there on the DSPs to market ourselves and then via that, matching it with the data that we have access to as a distributor. We can now see some correlation and patterning on how to better program and serve our audience.”
“So you're not necessarily data poorer; you just don't get some of the data you want,” Krefetz says.
“Exactly!” Pelliccione says. “Totally, yes, obviously we always want more data.”
Krefetz turns to Jeff Annison of Legion M and asks how his organization handles data. “Don’t you have a little bit of a different environment?” she says.
“100%,” Annison says. “Like you said, there's a lot of data that we would love to have that is very actionable. We'd love to know when somebody buys our movie on iTunes so that we can market against that and have that as a conversion event. But our relationship is with the human being on the other end, who's watching. And so we work hard to figure out ways to make it fun, to collect data from them. One of the advantages we think a company owned by a large, passionate group of fans has is harnessing the wisdom of the crowd to make decisions.”
Annison discusses the challenges of making data collection and surveys more engaging and enjoyable for their users. “We'll try and gamify it,” he says. “The best example is when we go to film festivals to pick up and acquire films and partner with films. We created a game called Film Scout that allows our community from around the world to help us evaluate all of the films that are playing at that festival so we can get an idea of what people are looking for. You get evaluated as a film scout for how good a job you do of predicting how the films will perform. So we're asking you, not just what do you think which of these films is most interesting, but what do you predict of all these films is going to do the best? And that second part, because we can grade it, it becomes a game. We can release a leaderboard at the end of the festival that tells you how you stood up against everybody else that's playing, including the professional people that literally are scouts for a living. The top 5% get invited to our Elite Scout program. Where then, we've got a screener, we've got a decision to make, and we now have identified a subset of our audience that has a demonstrated ability to predict what a larger audience will think. And so we bring them into the process when we're making decisions. So it's not just the other executives in the company and me, but we can bring the community in.”
Learn more about harnessing streaming data at Streaming Media East 2023.
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