Bigger bucks in product placement
Posted by iTVX Staff on 14th January 2007
While product placements have long been common in TV, film and videogames, a host of startups hope to make them as easy to buy and sell as Pez dispensers on eBay.
Several companies are developing online placement marketplaces in hopes of cultivating a market for smaller deals. The markets could push product into every conceivable corner of showbiz.
“We see that landscape as incredibly valuable but incredibly inefficient today,” says Hamet Watt, a former investment banker and founder of NextMedium, which has developed software designed to both place and track product placements.
These are not the multi-million-dollar high-profile deals like ABC’s “Extreme Makeover: Home Edition” and Sears or “Friday Night Lights” and Toyota. Those deals are done on the CEO level, involve many facets and much hand-holding.
Instead, they are targeting smaller deals for products within shows. With networks decreasing ad inventory, advertisers shifting away from the 30-second spot, and both networks and production companies looking for additional revenue streams, product placements are becoming more important to the networks and advertisers.
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