May 31, 2022
Cinema ad spend in the U.S is expected to grow by 168% in 2022.
The advertising industry was one of the most affected by the pandemic. 2021 however, witnessed a rapid bounce back, with most mediums reaching a record high and surpassing pre-pandemic levels.
In a recent study, Magna Advertising forecasted U.S. ad spend in 2022 for each medium, and while most mediums are expected to grow less in 2022 – a result of the doom-and-gloom narrative surrounding the ad market owing to the impending recession, ad spend on cinema is expected to increase by 168%.
Due to a disappointing first half in 2021, full-year ad sales amounted to just 24% of pre-COVID levels, however it is projected that cinema advertising will enjoy its first quasi-normal year since 2019, with audience admissions already witnessing a boost with the release of The Batman, Doctor Strange in the Multiverse of Madness and Top Gun: Maverick, and a large slate of blockbusters set to release over Q3 and Q4 2022: Jurassic World Dominion, Thor: Love and Thunder, Black Panther: Wakanda Forever, Black Adam and Avatar: The Way of Water.
As movie attendance is on the rise, marketers in both the U.S and globally are also looking at the ‘attention’ aspect cinema affords advertisers. Recent research by Amplified Intelligence reveals that cinema scores 80% ‘active’ attention and 20% ‘passive attention’ with zero wastage and no decay – the highest statistic thus far for active attention in a market of 30-40% attention average.
Sources: Magna Global, Variety and Mi3