With more and more brands willing to associate themselves with movies or even use some sort of product placement in them, P9 Integrated is smiling its way to the bank. According to Navin Shah, CEO, P9 Integrated, the entertainment marketing industry was growing at a quick pace and was poised to be a Rs 800 crore market by 2010.
Commenting on the year gone by, Shah remarked, “The year 2006 was a landmark year for Bollywood and the quantum of hits have been bigger. Film makers have realised the importance of marketing and as a result, marketing has taken the driver’s seat. The year also saw the beginning of the era of entertainment marketing with a dramatic growth in in-film product placement, film merchandising and brand associations.” He also pointed out that the entertainment marketing industry had grown from Rs 20 crore in 2005 to Rs 80 crore in 2006.
Shah expects the merchandising industry in the country to reach Rs 200 crore by the end of 2007. P9 has reportedly signed up six projects, including ‘Hanuman 2’, which will be released during Diwali of 2007, and ‘Traffic Signal’, for the same. In fact, traffic policemen at the Mumbai Marathon have been roped in to promote the movie ‘Traffic Signal’. The traffic cops will wear special T-shirts to promote the movie. “This is one method of taking the brand to the last mile,” said Shah.
Elaborating on the services offered to the film industry by the company, Shah said, “We have got the product mix right as we are the most integrated model. We offer everything, starting from the script to screening with all the bits in between.”
Speaking about associate marketing, Shah believed that marketers felt it was not a big risk compared to product placement. According to him, associate marketing also helped create more hype for the movie and product placement would work only if it was done seamlessly.
Revealign the future plans of P9, he said, “In 2006, we had put the product in place, and now in 2007, we are looking at an aggressive growth and dominance in the industry. By registering a 4-5 fold growth over the year, we are almost three times larger than the nearest competitor.”
P9 also plans to invest substantially in measuring the results in this space. To start with, in 2007, the agency has two brands associated with the Abhishek Bachchan starrer ‘Guru’ and also holds the exclusive marketing rights for seven brands in the soon-to-be-launched movie ‘Salaam-E-Ishq’. This apart, the agency also has some regional films like ‘Shivaji’ to its credit. The year 2008 will see a Hollywood movie with a product placement done by P9.
“Our objective is to make entertainment marketing as an annual strategy for brands,” Shah said.