As technology advances, digital platforms proliferate, and the business world is being fuelled by innovations from AI to VR to Web 3. As an impact, audiences have a myriad of options to spend time on, and their expectations are just mounting.
And businesses are spending a remarkable amount of their marketing budget to gain their attention, maximise the impact of their campaigns, and drive business growth.
Despite declining TV viewership, the channel still receives a disproportionate share of a brand's advertising dollars. Consumers, on the other hand, are turning to gaming environments, making them one of the fastest-growing media channels.
According to PwC reports, video game ad revenue will nearly double between 2022 and 2027. In spite of this, gaming accounts for only about 5% of a brand's media budget.
Gaming is also far in front of other forms of entertainment in terms of active engagement, which indicates that it is an extremely high-attention format.
In the last few decades, video games and advertisements have come a long way. Because it has become a universal hobby for audiences, any product serving any demographic can be effectively promoted through in-game advertisements.
Although consumer brands are very interested in gaming, many brands continue to ignore it. As opposed to trying something new, these brands are stuck in their old ways.
However, it is critical for brands to find ways to creatively and meaningfully meet audiences’ expectations in environments that consumers find attractive instead of pushing their wishes upon audiences.