KPIs for film bodies are essential to monitor the effectiveness of their strategies and initiatives and to make data-driven decisions that drive growth and improve the customer experience.
National film organisations and other film bodies need to measure the success of their content discovery platforms (CDP) and the cultural return on investment (ROI) of their film funding decisions.
A cadence of weekly, monthly, quarterly, and annual KPIs, film bodies can monitor their progress and make adjustments in real-time.
For the purpose of this article, we will break down KPIs into different cadences and for their CDP & Cultural ROI based on the extent of their content distribution. But first let’s get into what the Content Discovery Platform is.
Content Discovery Platform and Its Importance
Content Discovery Platform is a hub for all your titles. It allows you to promote your slate of films through their lifecycle but also measures the success of your movie marketing campaigns and captures first party data on your audience.
National film bodies can gauge audience reactions with a CDP. Moreover, they can understand preferences and gather valuable data on viewership trends. This type of platform also enables showcasing domestic films in one place and gain international exposure.
Weekly KPIs for Film Bodies
Firstly, weekly KPIs are focused on short-term goals and should be designed to measure progress towards those goals. Some examples of weekly KPIs for film bodies include:
Content Discovery Platform
- Number of page views on the content discovery platform
- Number of new users on the platform
- Number of films in cinemas
- New films added to streaming services
Monthly KPIs
Secondly, there are monthly KPIs, which are designed to measure progress towards mid-term goals. They provide a more comprehensive view of the success of the organisation’s strategies and initiatives. Some examples of monthly KPIs for film bodies include:
Content Discovery Platform
- Average time spent on the platform per user
- Conversion rate of home entertainment or theatrical redirects
- Number of redirects to stream films or purchase tickets
- Return visitors rate on the CDP
Cultural ROI
- Total number of showtimes
- Total number of countries with showtimes
- Total number of films on streaming services
Quarterly KPIs
What’s more, there are also quarterly KPIs. They provide a more long-term view of the organisation’s progress towards achieving its goals. Some examples of quarterly KPIs for film bodies include:
- CDP:
- Net promoter score (NPS) of the content discovery platform
- Total subscribers in the community
- Cultural Return on Investment (quantified by showtime/streaming redirects)
Cultural ROI:
- Percentage growth: Number of showtimes vs previous years quarter
- Percentage growth: Streaming availability vs previous years quarter
- Box office vs previous years quarter
- Number of awards won by films funded by the organisation
- Strategic view: Available content on Netflix vs previous year
- Strategic view: Available content on Prime vs previous year
- Strategic view: Number of films in cinemas in top 3 markets vs previous year
Annual KPIs
Finally, we have the annual KPIs. They provide a comprehensive view of the organisation’s performance over the year. Some examples of annual KPIs for film bodies include:
CDP:
- Total revenue generated by the content discovery platform
- Total number of subscribers
- Total country count of fans visiting the content discovery platform
Cultural ROI:
- Total Admissions vs previous year
- Box office vs previous year % of films from independent film
- Number of new releases to hit cinemas
- Number of new streaming releases
- Total number of showtimes
- Total number of streaming service availability
- ROI of recently funded films: (Total showtimes x Screening value) + (Streaming Services x streaming value)
- Number of showtimes of female directed films
- Monthly breakdown of theatrical availability
Conclusion
Creating KPIs is essential for film bodies to measure the success of their strategies and initiatives, and to make data-driven decisions that drive growth and improve the customer experience. A cadence of weekly, monthly, quarterly, and annual KPIs, film bodies can monitor their progress and make adjustments in real-time.
Moreover, the types of KPIs that film bodies should monitor can be related to their content discovery platform and the cultural impact or ROI of funding films by taxpayers in their country.
usheru Analytics can help film organisations build KPIs for their business, as the goals and remit of every film body differ slightly, and this is an important component of the usheru Analytics service.
Lastly, remember this: if it’s not measured, it’s not managed. So, it’s crucial for film bodies to track their performance through KPIs to ensure they are meeting their goals and delivering value to their stakeholders.
