Matt Marolda, Chief Analytics Officer of LEGENDARY ENTERTAINMENT has revolutionized Hollywood with the use of data and analytics for the entertainment industry. Appearing as the keynote speaker, for MeritDirect‘s CO-OP 2016 Marketing and Interactive Conference in late June, Matt told an eager audience of data professionals of the early days at Legendary, when he arrived to find only scraps of data and a list of 35,000 email addresses. But soon Matt would be changing Hollywood Paradigms with data and analytics.
To break it down – the traditional Hollywood Quadrants for marketing were:
(1) Male (2) Female (3) Under 25 (4) Over 25
….Essentially, 4 groups of 80 Million people.
However, by using social data Matt turned this traditional quadrant on its ear – Legendary applied social data and analytics to achieve “micro-segments” converting these 4 groups of 80 Million, into 80 Million groups of 4.
And it was actionable! Instead of the traditional “Spray and Pray” marketing – they were able to invert their “audience building strategy” starting with hard core fans, and extending up the funnel, by marketing from the bottom up. Soon all strategic decisions were driven with data and analytics, resulting in a reduction in media/advertising spend of 15-20%!
Matt’s team now consists of more than 60 people to keep up with the continual demand of gathering and optimizing social and other types of data such as historical box office patterns. The team, located primarily in Boston, to ensure objectivity outside the Hollywood sphere, includes quantitative, development, and application professionals as well as 10 PhD’s.
The paltry list of 35,000 emails have now morphed into 1.5 Billion (with a B) email addresses, with social conversations from movie fans in the billions as well. Legendary also uses social data to inform the creative process from “concept” to “cast evaluations” – gauging audience tastes and demands.
So when it comes to casting, Matt and his team at Legendary Entertainment are listening. Tweet and post about your favorite actors knowing at Legendary – the “couch” is out and DATA is in!