MANY predicted that the rise in popularity of streaming services such as Netflix would mean the days of cinema were numbered. In fact, the opposite has happened.
Marvel’s Avengers: Endgame surpassed Avatar recently to become the highest-grossing film of all time. It took nearly a decade, but Captain America and his superheroes broke global box-office records, earning Disney more than $2.9bn.
Across Ireland, the film industry is hitting new heights with our films, securing a record-breaking 10 awards at the BAFTAs and picking up the best actress category at the Oscars.
It’s not just footfall in cinemas and the creativity of our directors which is fuelling a cinema renaissance. Ireland's increasing popularity as a filming location now earns the country over £270m each year. The series Game of Thrones alone brought in more than £206m over the eight series.
So, what does this mean for local marketers and businesses? Quite simply, new opportunities to reach captivated audiences.
Cinema is set to overtake digital and become the fastest-growing advertising channel. When people watch a streaming service, there’s a high chance they are ‘second screening’, checking their phones for emails, messaging on social media or surfing the internet. Few people now (12 per cent, a recent report indicated) never use another device while watching TV.
The cinema experience is different. It’s an escape from all the hustle and bustle of modern life. It’s a quiet space, where there are no phones or noise, so the impact of marketing can be much bigger than on TV or a phone or tablet. Cinema is a place where consumers are receptive to advertising or content and that’s rare in an age of brand bombardment.
Streaming services rely on subscriptions rather than advertising, which means brand opportunities are rarer than traditional TV channels. Netflix’s Stranger Things’ upside-down marketing campaign was successful for many brands associated with the show, but it also received criticism for the sheer breadth of brands which used the show to promote goods and services.
Cinema advertiser, DCM reported that 95 per cent of ads shown in cinemas are also shown on TV, but 85 per cent of cinema-goers think the average cinema ad is unique – underlining that, for most cinema-goers, a trip to the cinema is still something special that sticks in the memory.
Cinema has taken the crown of the fastest-growing global advertising sector away from the internet for the first time in two decades because the internet is struggling.
Beset by brand safety issues and questions about who actually engages with digital ads, next year’s growth could be its lowest since 2001. It will still be the biggest advertising channel but, in an experience economy like Ireland, the competition is getting stiffer.
Escapism is rife right now as people look to entertainment forms to block out a constantly negative news cycle. For brands and marketers that could mean a golden age of silver-screen advertising is about to take a star role in your future plans. Just think how digital and cinema could soon prove to be very strong partners.
:: Eileen Curry is chair of CIM Ireland
