Rachel_Sandford
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Advertising at the right place and time can get any brand name massive exposure from the target market. Soap operas in particular have been known to capture an abundance of viewers during broadcast hours, and given the relaxation of TV product placement rules earlier this year, Nationwide Building Society decided to capitalize on the opportunity.
Coronation Street, one of the most profitable TV programs on commercial television, will be displaying a Nationwide ATM in the corner store owned by character Dev Alahan. The deal was brokered by branded content expert Nick Price of MPG Media Contacts. Having successfully closed the deal between Nationwide Building Society and the popular ITV soap, Price believes that there’ll be more product placement deals coming soon.
He also added “We are very proud to be delivering the first product placement partnership for Nationwide Building Society, demonstrating that we are continuously extending our capabilities for our clients to access in this modern media world,”
Regardless of the relaxation of TV product placement rules, media regulator Ofcom still has certain regulations pertaining to how the products appear during the show. Such procedures include the appearance of a letter “p” somewhere on the television screen to notify viewers that an advertised good is being displayed.
The potential income generated from the UK product placement market was estimated by several forecasts to be £100 million annually. On the other hand, Ofcom came up with a lower estimate of only £25-£30 million annually within a few years’ time.
Whichever of the two estimates it is, the potential revenue from this style of advertisement is undoubtedly impressive, which is probably why ITV commercial content director Gary Knight has been dropping a few hints that there could be more product placement deals sometime in the future.
“Editorial integrity remains at the heart of what we do as we continue to talk to our clients about a number of product placement opportunities, spanning a range of programmes and channels,” said Knight.
Coronation Street, one of the most profitable TV programs on commercial television, will be displaying a Nationwide ATM in the corner store owned by character Dev Alahan. The deal was brokered by branded content expert Nick Price of MPG Media Contacts. Having successfully closed the deal between Nationwide Building Society and the popular ITV soap, Price believes that there’ll be more product placement deals coming soon.
He also added “We are very proud to be delivering the first product placement partnership for Nationwide Building Society, demonstrating that we are continuously extending our capabilities for our clients to access in this modern media world,”
Regardless of the relaxation of TV product placement rules, media regulator Ofcom still has certain regulations pertaining to how the products appear during the show. Such procedures include the appearance of a letter “p” somewhere on the television screen to notify viewers that an advertised good is being displayed.
The potential income generated from the UK product placement market was estimated by several forecasts to be £100 million annually. On the other hand, Ofcom came up with a lower estimate of only £25-£30 million annually within a few years’ time.
Whichever of the two estimates it is, the potential revenue from this style of advertisement is undoubtedly impressive, which is probably why ITV commercial content director Gary Knight has been dropping a few hints that there could be more product placement deals sometime in the future.
“Editorial integrity remains at the heart of what we do as we continue to talk to our clients about a number of product placement opportunities, spanning a range of programmes and channels,” said Knight.