Statista projected that $11.44 billion U.S. dollars would be spent on product placement in the U.S. in 2019. The future of video entertainment is interactive – creating new advertising opportunities for brands.
“The future of video entertainment is interactive, and this joint venture is a huge step towards bringing this future to life,” said Yoni Bloch, chief executive officer of Eko.
Walmart is ahead of the game here. As interactive video catches on, smaller e-commerce brands are going to have to play catch up. Shoppable video isn’t itself a new idea, but it’s been frustratingly slow to go mainstream. That’s given smaller e-commerce brands some extra time to position themselves for the new technology and its strategic marketing. But once it blows up, companies won’t want to be left behind, competing with bigger retailers for the most visible pieces of content.
“What we’re exploring, besides just making funny films and pioneering interactive entertainment, are the possibilities around long term partnerships between filmmakers and brands,” says Sandeep Parikh, CEO of EffinFunny. He adds that the nature of video advertisement has changed, but it stands to change even more dramatically.
“It used to be that advertisers partnered with TV networks, so you’d never know whose advertisements might appear during your show. But now, filmmakers can decide which brands and retailers are the best fit for the look and feel of the show.” More intentional pairing of content with sponsors means a higher likelihood of clickthroughs and sales. It’s less abrasive to the viewer. A win-win for everyone.
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