27 September 2021: The film and video industry has delivered a dramatic statement of intent with an expected marketing blitz worth more than a quarter of a billion pounds as it prepares to roar back to life following lockdown.
The figure emerged in a top secret briefing of the UK’s leading digital services and retailers by BASE, the British Association for Screen Entertainment which took place during the Entertainment Retailers Association’s AGM (September 16). The sum is expected to be spent over the next 18 months.
The closed-door event took place just two weeks before the release of the much-delayed James Bond feature No Time To Die marks the symbolic end of the logjam of cinema releases caused by the coronavirus lockdown.
Blockbusters expected over the next 18 months include Jurassic World: Dominion, Minions: The Rise of Gru, The Matrix 4: Resurrections, Downton Abbey: A New Era and The Unbearable Weight of Massive Talent.
While digital video soared during lockdown with UK revenues up by 37% to £2.9bn, retail sales of DVD and Blu-ray – which are particularly sensitive to new release activity – declined by a quarter to £356m.
ERA CEO Kim Bayley said, “A quarter of a billion pounds worth of media will ensure that no one is unaware that video is back in the game. This level of marketing support is off-the-scale. After 18 months when the video business has been starved of releases because of the cinema blackout, this is a dramatic comeback. We are immensely grateful to BASE and the studios it represents for this sneak preview of the goodies to come.”
ERA members expressed relief at the strength of the new release slate.
Paul Newton, Head of Commercial at Sky Store, said, “Our business has been very resilient during the pandemic. We have all done a great job in promoting and re-promoting catalogue, but new release remains the biggest driver.”
John Delany, Head of Film and TV at HMV, said, “During lockdown, more people have gone back to titles they know and love and that will only serve to create demand for some of the great sequels to come like the new Matrix movie.”
Meanwhile Andrew Stewart, Head of Commercial Partnerships at Amazon Video, said, “The cinema run is the ultimate marketing tool. We are about to gorge ourselves on a huge feast of new content and it’s a huge privilege to get a sneak preview today.”
ENDS
For further information please contact Steve Redmond – steve@eraltd.org