Product Placement on Coronation Street could be worth £9m a year
The use of product placement and strategic in-episode advertising could be worth up to £9m a year to broadcaster ITV through soap opera Coronation Street, according to brand analysis firm Margaux Matrix.
According to a report on Digital Spy, using its own technology which is able to predict brand exposure around sports events, the Surrey-based company has calculated the value of products appearing on television programmes and the value of product placement, following the Government’s recent decision to relax the rules for brand’s paying to appear within programmes.
The company analyzed a week of episode’s of the long-running ITV soap opera, detecting branded products which appeared within episodes as well as watching for potential opportunities for brands within and outside of the Government’s guidelines.
It deduced that, as well as products interacting with cast members, posters and POS advertising could be strategically placed around the set, as could generic products such as drinks cans and cereal boxes.
The placement of generic items could be worth around £330,000 a week while the use of POS and poster advertising could be worth a further £230,000.
Margaux Matrix also made the point in saying that if alcohol placement was allowed on the soap it would be worth £181,000 a week.
In total, the revenue of advertising products within Coronation Street could be worth around £9m across to the company.
Last week, Burger King's marketing director, Sarah Power told The Drum that she welcomed the relaxation of product placement rule within the UK.