Bach Dinh and Joshua Ortega
So if you had a studio and you are in need of budgets, what could you do? The answer… Product Placement.
According to Business dictionary: Product placement is An advertising technique used by companies to subtly promote their products through a non-traditional advertising technique, usually through appearances in film, television, or other media.
In 2015, Universal released Jurassic World into theaters. Throughout the film you can see business enterprises like Starbucks, Hilton, Mercedes, Coca Cola and Verizon. Universal collected a great amount of money to fund their film through product placement. However, most of the deals between these companies were kept in secret, which means, we couldn’t find out how much they make.
Heineken was reported to spend 45 millions on “Skyfall” to turn Daniel Craig’s James Bond into a lager drinker and couple other liquors. A 30 second commercial has to pay an average of 4 million in super bowl break, just imagine how much the number could be in a worldwide movie
This isn’t just good for studio features, but better for growing studios and independent films, by offering people to have their products to show in your films. You can ask them to pay or give the product for free to help with the budget.
If your movie turned out to be very successful, people will come back for your next ones, and you can begin to charge money for their product’s appearance. Remember, not likely the companies will pay for your first film, but it is a good start to break into this kind of fund raising.
This is also a good way to expand your finance options. www.erma.org is a website to look up for products placement. It has a collection of many brands, contacts info that you can use.
Before taking charge of what product you want to have in your film, a studio must know what the target audiences of their film are; therefore, they can narrow the companies that they could reach.