Monday, July 13, 2009

Home National Sports Business Lifestyles Religion Arts & Culture Pulse Spice Editorial letters Opinion Foodie Sportscope Real Talks Weekend Report PDF's Classifieds Contact About Us Archive Weather

Movie advertising reels in Bahamian Business By INDERIA SAUNDERS ~ Guardian Business Reporter ~ inderia@nasguard.com: An increasing number of Bahamian businesses are depending on the drawing power of movie blockbusters to generate consumer interest — a shift leading to a growth in big screen theater advertising. "It's the most cost-effective way to advertise," said Sherese Hamilton, marketing manager for Q.B.C. advertising. "Now more than ever with the economy being down, people are cutting back on their advertising budget. "And what they're doing is taking the avenue at which they can get it at a cheaper rate, where they get more play." It's a statement centered around the reach of movie theaters versus that of regular advertising vehicles like TV and print. On any given day, hundreds pack Galleria movie theaters in anticipation of the latest new thrill. The recession has in fact likely increased their number as beleaguered Bahamians look to forget their financial misery, if only for a couple hours. That reality is perfect for businesses looking to get their message across to consumers, and especially the crucial tween to 30s demographic, say industry experts. "People travel to the movies who may not necessarily pick up a paper and read it or who may watch the news or listen to the radio," Hamilton added. "So what it does is offer two mediums in one, you get audio and visual at a cheaper cost than if you were to do print." According to Hamilton, advertising in the theater can be around 50 percent cheaper than paying for print or radio advertising. As the sole advertising agency for Galleria Cinemas, she's experiencing what may be the only boon in this country's advertising business — specifically, a 20 percent growth relative to the year-ago period. Hamilton has however suffered the same sort of client erosion as others in the local advertising business during this downturn. Still, the overall pick-up in interest is perhaps reflective of the move by both big and large businesses to slash advertising budgets as a way of grappling with the recession yet maintain their marketing efforts. It also mirrors a U.S. trend as companies develop the same sort of trailer ads that pop onto Bahamian screens before the big feature. Hamilton's firm has now slashed its rates by 40 percent to heighten interest, even among smaller players. "We have the smaller scale businesses coming on board now," she said. "And this year more people have been inquiring about it after they see it or hear about it word of mouth." It's a global growth taking place all over the world. In the U.S., companies have made the move to expand cinema advertising, realizing that theaters are good places to reach audiences. Hamilton believes this new form of advertising is here to stay even past the economic decline that spurred the move. It's a shift made easy by an increasing number of advertising agencies like hers that are willing to do production work themselves while working within a budget. Still, The Bahamas has some catching up to do in terms of exploiting the new advertising medium to the same extent as the U.S. Hamilton points to the need to develop options allowing customers to specifically choose which movies they wants their ad to run alongside. For now, ads run on all new movies to Galleria. Monday, July 13, 2007