Netflix and Spotify aren’t media companies.
They are data companies!
Even though Netflix is making headlines regularly for the $15 Billion that they invested in original content last year, it’s their back catalog that is their workhorse — they have over 50,000 movies and TV episodes in their library!
We’re not seeing a lot of new productions taking place right now. Therefore, it is more important than ever to optimize your content library, make it perform for you, and optimize each ounce of value out of it. The best way to do that is by revisiting your metadata strategy.
1. Locate your metadata; these are the tags and descriptors attached to each piece of content that you can use for filtering and arranging them in different “collections.” Make sure you’re going deep enough on the various ways that you want to classify your content. Then, think about how you want to package and repackage this content in both informative and creative ways.
Informative ways include customary categories like new releases or different genres. The real value is created when you build collections in ways that could raise the gems of the catalog to a new level and surface them for your viewers.
2. Connect your metadata to your branded app; This is where you’re going to visually show your content to your users. For example, you may be using a movie poster, or considering using illustrations of key characters, or considering using the celebrity stars’ headshots of your content.
3. Measure what you treasure; decide the analytics that will be most useful for you, and continually optimize your catalog based on what your audience finds more engaging. An excellent to get started is by looking at the “most-watched” shows, most/least completed content, and how the categories are performing.
In the post-Netflix and Spotify era, let’s unlock your data’s power and create the future of content.