According to the latest edition of PQ Media’s annual Global Branded Entertainment Forecast, content marketing has quickly grown to a $16bn industry worldwide as marketing professionals continue to shift away from traditional advertising.
The 2018 report found that across the globe, branded entertainment revenues rose to more than $106bn in 2017, an increase of 8%. The report also indicated double-digit growth in product placement and consumer content marketing for the ninth consecutive year.
Last year brought on a number of issues affecting marketers, including increased awareness of fake news and ad fraud. These problems have persuaded many brand marketers to use more experiential marketing, product placement and consumer content marketing in order to work around ad blockers and consumer mistrust.
Consumer content marketing, which includes digital, non-textual and print and digital hybrid content had the fastest growth of any branded entertainment sector, with a 14.5% increase to roughly $15.61bn globally. Hybrid content marketing represented the largest platform with a $7.87bn share, while digital content had the fastest growth with a 24.7% increase in 2017.
“The continued growth of branded entertainment marketing is in sharp contrast to the weaker growth of traditional advertising and marketing platforms, such as live television, newspapers and direct marketing,” said Patrick Quinn, president of PQ Media.
Brands are developing new ways to reach consumers through content, such as drafting longer social media posts, developing relationships with social media influencers and using more live video.
