Cinema advertising in the US is set to more than double in size by 2008 to reach a $1 billion market, as new research from Veronis Suhler Stevenson (VSS) reveals this is the fastest growing advertising sector, beating both the internet and television.
According to the
Communications Industry Forecast & Report by the media merchant bank, advertisements on US movie screens grew at a compound annual rate of 38.4% over the past five years and are projected to grow at a rate of 23% over the next five years, giving cinema advertising nearly double the projected growth rate of the online advertising market.
The VVS report adds that because the medium is still in its infancy, growth potential remains strong, especially as more digital movie screens become available, where most of the growth has been attributed.
Cinema advertising will also experience a boost from increased movie attendance, as VSS projects that the number of hours US consumers spend attending the cinema will increase by 7% over the next five years.
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