Marketers are constantly looking for new advertising vehicles to reach fickle consumers and a new report from the Yankee group thinks it has the answer in the form of video games.
The
Marketers Look To Video Games To Drive Their Messages Home report says, although product placement in television programmes and films is common place, up until now video games have been largely ignored as advertising platforms, however this is about to change.
According to the Yankee Group, by 2008, the video games advertising market will generate $260 million; $92 million is expected to come from in-game advertisements and $168 million from ‘advergaming’.
Currently, the video game industry is already a mass market comprising more than 108 million gamers, spending a total of $7.4 billion and this is set to grow even further and by 2008, this market will grow to more than 126 million gamers, generating revenue in excess of $8.3 billion.
Media & Entertainment Strategies senior analyst, Michael Goodman said: “Surprisingly, given the size of this market, video games have largely been ignored as a platform for advertising. In 2003, marketers spent a paltry $79 million on in-game ads and advergaming. Even if we add in $450 million to $550 million spent advertising on game-related websites, this pales in comparison to $42.4 billion on broadcast TV advertising.”
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