Stamford, Conn-based PQ Media says this represents a major growth move, due to fewer regulations of TV product placement and an increase in consumer sponsorship across major international sporting events, including the World Cup in Brazil last year.
The U.S. market, which represents about half the worldwide branded entertainment revenues, grew 7.3% to $34.53 billion in 2014.
Global paid product placement was a major growth area in 2014 -- rising 13.6% to $10.58 billion. Digital media placements rose 35.8% last year; music placements were up 15.9%.
“Brands are seeking better methods to engage with younger target audiences in this age of ad-skipping technology and on-demand media consumption, and branded entertainment offers them multiple channels in which to more effectively reach the Millennials and i-Gens,” says Patrick Quinn, CEO of PQ Media, a media research company.
PQ Media expects continued global gains in the years to come climbing nearly 7% this year -- 8% in the U.S. -- and eventually reaching $108.04 billion in worldwide branded entertainment revenues by 2019.