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| Author | Zoe Aresti |
This week, WPP’s Group M, Britain’s biggest media buyer, upgraded its forecast for advertising revenue growth in the UK to 7 per cent in both 2015 and 2016.
It also reported that Cinema ad revenues are set to smash expectations by jumping almost 23 per cent in the UK this year. For Digital Cinema Media (DCM), 2015 has seen the cinema advertising industry experience it’s biggest ever year-on-year growth, with ad revenues already up a massive 24%.
There have been stellar performances both on screen and at the box office, with records broken time and time again. As stated by the Group M report, the strong performance of Spectre is undoubtedly a contributing factor, as well as a surge in children going to the movies.
Group M said in its latest forecast of the ad market: "Bond lifted annual revenue by 11 per cent on its own, and the year has yet to round out with Star Wars."
Fears that kids are shunning cinema in favour of smartphones, tablets and on-demand devices in the home have been allayed as children’s box office is up 50 per cent on the year, boosted by two big films from Disney’s Pixar studio, Inside Out and Home. Minions saw the biggest three day opening for an animated film ever and is the fourth biggest animated film of all time, while in July, Inside Out became Pixar’s biggest non-Toy Story hit (£39.1m to date).
This year’s expected 22.8 per cent ad increase means that cinema grew faster in 2015 than even the internet, which is forecast to be up about 15 per cent.
Group M’s reported broad reasons behind cinema’s improved performance: "Advertiser demand for cinema has a good supporting cast. TV inflation, no late-booking penalties, lead time [to bring an ad to the big screen] down from analogue weeks to digital days; being able to adapt existing TV ads, which most are.
"The fact cinema audiences think these ads are different (mostly they are just longer cuts) and immunity from digital curses of viewability, ad-blocking and ‘non-human traffic’."
This article first appeared on Brand Republic.