Product Placement is the process of locating and negotiating the integration of specific consumer brands into the narrative of film, television and multimedia programming. The primary objective of the service is to maximise the brand’s visibility within the programming before a viewing audience for advertising purposes.
The evolution and growth of product placement markets in Asia, especially in China, India and Australia; and the continuing transition from non-paid to paid placement models are rapidly taking hold.
Global paid product placement grew 37.2% to $3.36 billion in 2006 and is forecast to grow 30.3% to $4.38 billion in 2007, driven by relaxed European regulations, emerging Asian markets and shifting American models.
Brand marketers are seeking to better engage consumers with emotional connections and media companies are searching for new revenue streams as traditional advertising methods suffer from negative perceptions. As a result, product placement has emerged from a novel marketing tactic just a few years ago to a key marketing strategy worldwide.
SOURCE: PQ Media Global Product Placement Forecast Series 2006-2010