An increase in product placement and consumer content marketing revenue has bolstered global branded entertainment marketing revenues, which saw spend rise by 8.0% to $106.20 bn in 2017.
Leading the way was consumer experiential marketing, including event marketing and event sponsorship which remained the largest overall platform, as global revenues increased 5.6% to $74.91bn in 2017, according to PQ Media’s Global Branded Entertainment Marketing Forecast.
Event sponsorship was the larger of the two channels at $40.78bn, while event marketing increased faster, up 7.1%. Event sponsors and marketers are expected to post accelerated growth in 2018 as powered by the Winter Olympics and FIFA World Cup.
Meanwhile, live video remained in demand among brands and consumers. Global product placement revenues increased 14.0% to $15.68bn in 2017, with television being the largest channel at $10.50bn and digital media rising the fastest, up 26.7%.
PQ Media president Patrick Quinn said: “The continued growth of branded entertainment marketing is in sharp contrast to the weaker growth of traditional advertising and marketing platforms, such as live television, newspapers and direct marketing. In addition, PQ Media’s consumer time spent with media data indicates that younger demographics are moving away from traditional media platforms, while major brands are proactively seeking alternative media channels to engage these more mobile, tech-savvy younger audiences.
“The strong desire to gain brand awareness among target consumers, create positive brand associations and, ultimately, produce sales lift will continue to favor branded entertainment marketing worldwide over the next five years.”