With advertising frequency and reach issues continuing to challenge the media industry, one recent study says 70% of brands will look to shift around 10% of media budget into entertainment product placement -- on TV and film.
The study was conducted by BENLabs, an AI-driven product-placement company, which adds that 75% of U.S. consumers have searched for a product or brand after seeing it in a TV show or film -- with 57% looking to make a purchase.
Global product placement is estimated to exceed $25 million in 2026 -- rising to $41.4 billion by 2026, according to PQ Media.
In the U.S., product placement in U.S. entertainment TV shows, film and music in 2022 was estimated at $15 billion -- and forecast to grow to $23.5 billion by 2026.
TV is the most dominant media platform -- with 75% of all product placement going to that channel. Film is next at 15% with digital media at 4%, according to PQ Media.
One of the key arguments for brands, according to the study, is that product placement can extend much-needed reach for many marketers -- especially those who use traditional linear TV as a big piece of their media campaigns.
Product placement used to provide incremental TV reach grew 29% to those who use TV. This comes to 57% of those in the total sample of 277 marketing executive respondents, according to BENLabs.