In-cinema advertising crosses Rs 500 crore mark: Innovation & experiential marketing to be key drivers ahead
In cinema advertising is fast emerging as an important channel for brands to target audiences effectively and the segment is already pegged at over Rs 500 crore
Published - 17-January-2017
There is no denying the fact that Bollywood has been for long one the most influential media platforms that we have known. The unmatched power and reach of this medium has over the years been harnessed by marketers through in-film and in-cinema advertising, so much so that the pie of in-cinema advertising has already crossed the Rs 500 crore mark as per KPMG estimates.
Power of in-cinema advertising:
One of the reasons for the fast growth of in-cinema advertising has been the effective targeting through captive audiences, unlike TV, Digital and Print. The fact is that marketers always worry about the consumer switching channels, closing a browser or choosing the YouTube ad skip button, but in-cinema advertising guarantees better attention span for the message to be communicated convincingly. This in turn has resulted in developing a great eco-system for brands to communicate with the audiences in the most impactful way.
Speaking about how in cinema advertising is witnessing a phenomenal growth every passing year, Munnish Puri, Founder, Indian Financial Advisors & Indian Film Advisors, said, “The in-cinema advertising in India is currently approximately at 1% of the total ad-spends and it could grow at 20% to 25% per annum over the next five years. Innovation and Experiential Marketing will be key drivers. As film content becomes more compelling and footfalls increase, there will be a clear need for brands to capture the in-cinema audiences. Strongly believe UFO Moviez and the top multiplex players will lead the growth of the in-cinema advertising business.”
A number of brands are increasingly using in-cinema advertising to reach potential customers and all this is because of the sheer scope and range that in-cinema advertising offers marketers, unlike traditional mediums. Apart from the ads that are shown on screen, the off-screen space, offers plenty of options ranging from seats, lobby, lift, staircase, washroom and interactive zones, ensuring that the message of the brand is not missed by the customers.
Explaining how in-cinema advertising has allowed exhibitors to look at a new revenue stream, Siddharth Bhardwaj, Chief Marketing Officer - Head of Enterprise Sales, UFO Moviez, said, "In cinema advertising has grown tremendously in the last few years. Currently it is a Rs 600 crore market which is slated to grow further. The best part about in-cinema advertising is the fact that brands get a captive audience and with the release of big starrer films, there is huge scope for brands to use this platform. Currently, UFO Moviez has over 3,670 screens, with an aggregate seating capacity of approximately 1.75 million viewers and a reach of 1,892 locations across India. Our in-cinema advertising platform enables advertisers to reach a targeted, captive audience with high flexibility and control over the advertising process. Our in-cinema advertising platform also allows small exhibitors who otherwise are not able to effectively monetize their advertising inventory due to their limited scale and reach to receive a greater share of advertisement revenue than they are able to using traditional advertising methods."
Keeping the growth story intact:
With the proliferation of multiplexes, the ticket prices have soared considerably which in turn can have an impact on overall footfalls and thus in-cinema advertising. Underlining the need for a more affordable approach to movie watching experience so that the footfalls keep witnessing an upward trend, Atul Mohan, Editor, Complete Cinema said, “The audiences at movie theatres are very different from the TV and Print and Digital platforms. Firstly they have paid to watch the ads and secondly it is a captive audience which makes the communication more targeted. However, the critical thing to keep in mind is the cost of the movie tickets, especially in multiplexes, which directly impacts the footfalls. It is important for multiplex and theatre owners to keep the affordability factor in mind so that the footfalls for in-cinema advertising keep increasing.”
“In cinema advertising is largely driven by major box office clashes. Even factors like demonetisation, which affected ad spends in other domains, did not have any impact on in-cinema advertising. The point is that increasingly the cinema is becoming an alternate and reliable channel for the brands to interact with audiences,” commented filmmaker Ajay Arora.
Highlighting how brands have increased their spends on in-cinema advertising over the years, Bhardwaj is hopeful that this platform will continue to witness robust growth in the time to come. "The best part about in-cinema advertising is the fact that it caters to a unique audience and allows us to advertise in select geographies with different propositions. As far its scope in the coming time is concerned, I believe it is going to play a significant role as brands have increased their spends on in-cinema advertising given the impact that it generates and the trend is likely to continue," he added.For more updates, subscribe to exchange4media's WhatsApp Channel- https://bit.ly/2QUdLCK