Marketers continue to turn to new channels to promote their products and services. One rapidly growing channel in the past 2 decades has been entertainment marketing spending. This group broadly includes event sponsorships and marketing and paid product placement. The channel generated $24.63 billion in 2009, a figure which represented a small drop (1.3%) from the previous year. However, PQ Media analysts expect growth to resume in 2010.
While many other media categories expect little growth or decreases in 2010, paid product placement will grow by 5.3% in the U.S. This growth rate would put category spending at $3.8 billion for the year. Examples of paid product placement include:
- TV shows and movies
- Internet webisodes
- Video games
- Print media such as newspapers, magazines or books – does not include advertorials
- Recorded music
The consumer event sponsorship and marketing category is much larger than paid product placement. Businesses poured $21.02 billion into the sponsorship bucket last year. PQ Media analysts are looking for a healthy growth rate in this category as well during 2010. Patrick Quinn, CEO of PQ Media, points out that consumers face a “cascade of new media platforms and technologies” which has changed the way they use media. As a result, marketers are adjusting the way they connect with their target consumers.
Engaging these consumers in “captive locations for extended periods of time” reaches prospective buyers when the chance of making an emotional connection is high. Look for more marketers to exploit this channel as traditional media spaces grow more crowded.[Source: Company release. PQ Media. 29 Jun. 2010. Web. 7 Jul. 2010]