There is an enormous amount of crossover between these two industries. Let’s just list a few of the similarities to begin with:
- Awards shows
- Hall of Fame locations and ceremonies with inductees
- Limo transportation to red-carpet events
- Product placements
- Celebrity endorsements
- Hanging out with other famous people regularly
- Employ marketing tactics to persuade their audiences
- Masters at tugging at their followers/fans’ heartstrings
- Sponsorships and partnerships
- All expenses paid crazy excursions disguised as “retreats” or “team building exercises”
- Extensive involvement in nonprofit initiatives (they give back a lot!)
Advertainment is a term that reflects the intertwining relationships between advertising and entertainment. Typically, it refers to media combining various forms of entertainment (television, movies, songs, etc.) with advertising elements to promote products or brands.
As a whole, entertainment marketing has a lot in common with both general marketing and public relations. They’re all designed to fulfill customer needs (like marketing) and to create mutually beneficial relationships between a brand and its audiences (like PR).
The role of mass media in entertainment is to inform and entertain. Mass media provides information about events, artists, films, background information, etc. Because of mass media, people know more about entertainment industries, productions, personalities, and issues. But mass media also entertains.
When speaking of product placements, just like an actor can seamlessly slip in a cleverly integrated line, advertisers skillfully sneak their products into the entertainment world. It’s like watching a master illusionist – you never see it coming until you suddenly have an insatiable craving for Taco Bell late at night while watching MTV.
As far as celebrity endorsements go, much like how actors rely on charming charisma to win over audiences, advertisers bank on the star power of celebrities to influence consumers. Because who needs convincing logic when you have Paul McCartney casually sipping on a Dr Pepper while playing the song “Sgt Pepper’s Lonely Hearts Club Band”?
Why is entertainment important in advertising?
Entertainment marketing allows us to market products or brands in a way that consumers enjoy and are prone to share. Entertaining content has significantly more engagement than static content, which makes it a compelling marketing strategy.
Just think about the NFL Super Bowl game, packed with advertisements at the top of the heap, award-winning, entertaining, and engaging. So much so a segment of people who do not even like football watch the Championship game just for the ads!
Here are some of the awards people in advertising can achieve:
ADDY Awards: Recognize and celebrate the best creative work in advertising across various categories and mediums.
Mosaic Awards: Honors outstanding efforts in promoting diversity and inclusion in the advertising industry.
Cannes Lions Awards: Considered one of the most prestigious advertising awards globally, it recognizes excellence in creative communications across different disciplines.
Clios Awards: Acknowledges creative and innovative work in advertising, design, and communications on a global scale.
One Show: Recognizes excellence in advertising, design, interactive, and branded entertainment on an international level.
- Effie Worldwide
Effie Awards: Focuses on recognizing and celebrating marketing effectiveness by highlighting campaigns that have achieved significant results.
- D&AD (Design and Art Direction)
D&AD Awards: Recognizes outstanding creativity and design across various disciplines, including advertising, design, and digital.
Brand Genius Awards: Celebrates individuals who have made significant contributions to the field of advertising and marketing by creating successful and impactful campaigns.
Webby Awards: Recognizes excellence in digital advertising, websites, apps, and online media.
- International Academy of Digital Arts and Sciences (IADAS)
Lovie Awards: Honors excellence in European internet and digital media across various categories.
- Association of National Advertisers (ANA)
REGGIE Awards: Recognizes and celebrates the best-integrated marketing campaigns that drive business results.
What is the future of media and entertainment industry?
Leveraging data for insights, AI for content creation and management, and automation for streamlining workflows will be critical for future media and entertainment industry trends. Some use cases of digital technologies in the M&E industry are Content optimization through trend analysis.
The Global Media & Entertainment market is anticipated to rise considerably during the forecast period between 2023 and 2030. In 2022, the market is growing steadily, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
The media and entertainment industry overall will have 2.8 percent compound annual growth through 2024. Subscription video-on-demand revenues will surge, reaching twice the size of the box office in 2024. Advertising spending will grow more slowly than consumer spending in the next few years, and advertising spending on digital is expected to grow at an annual rate of 4.8 percent through 2024. According to a report by Research and Markets, the global media and entertainment industry is expected to have a compound annual growth of 13 percent from 2021 through 2026.
According to one of PwC’s Global annual reviews, “For the entertainment and media industries…by 2027 revenue will grow just 2.8% from 2026. That’s slower than the 3.1% rate of overall economic growth that the International Monetary Fund (IMF) projects for that year.
The slowdown, caused in large measure by sluggish consumer spending, is pushing companies to reset expectations, refocus inward and seek ways to recharge growth. They’re doing so by tapping into the many geographical and sectoral hotspots that offer opportunities and by harnessing emerging technology—in particular, by exploring the power of generative AI as an engine of productivity for the creative process,“.
What is the relationship between entertainment media and advertising?
In summary, the relationship between entertainment media and advertising is deeply intertwined. They borrow strategies from each other, collaborate on various projects, and create a harmonious dance that keeps both industries thriving in the spotlight.