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Reduced branded entertainment spending, but still solid growth prospects
Branded entertainment in the United States (US), including product placement, fell by 1.3 percent in 2009, based on statistics from PQ Media. However, its still maintains solid growth prospects for 2010.
According to PQ Media, paid product placements in television, film, video games, and other media went down by a little under 3 percent in 2009, which broke a five-year growth streak.
The US is the world?s largest branded entertainment market. Compared to other industries, it was the less affected by the recession.
?The cascade of new media platforms and technologies have led to significant changes in consumer media use, which has forced brands to rethink long-held beliefs about effective strategies to reach target audiences,? explained Patrick Quinn, CEO of PQ Media. ?The availability of content through the internet, mobile devices and social networks, the difficulty of reaching more elusive target consumers, and the transformation of personal communications due to these developments have made it more important than ever for brands to invest in strategies to engage target consumers in captive locations for extended periods of time through the power of emotional connections.?
Overall branded entertainment marketing spending in the US is expected to increase by over 5 percent through 2010.