Should We Start Buying Advertisements for Movies in Cinemas Again?
In the thriving world of cinema advertising, Screenvision Entertainment Network held a notable position, serving ad impressions to around 40% of movie theaters across the country. This company, which sells movie theater space to advertisers, had been on an upward trajectory, with its profit tripling and revenue doubling organically between 2015 and the start of the pandemic.
Christine Martino, the chief revenue officer at Screenvision, was looking forward to another record-breaking year as the company entered 2020. The Upfront, Screenvision's biggest event, was set to be the largest in cinema history. However, the COVID-19 pandemic, which occurred right as Screenvision was experiencing growth, brought about a significant shift.
The pandemic had a profound impact on cinema attendance, leading to a significant decrease. This decline, coupled with the economic uncertainty and reduced advertising budgets, resulted in a notable drop in Upfront revenue for Screenvision. With cinemas closed or operating at limited capacity for much of 2020, advertisers reduced their spending on cinema advertising, as the audience reach diminished. This resulted in a sharp drop in Upfront commitments and revenue compared to the typically stronger performance observed in previous years.
Despite the challenges posed by the pandemic, Screenvision continues to navigate the shifting landscape of cinema advertising, seeking innovative solutions to meet the needs of advertisers and cinema-goers alike.
- Due to the economic uncertainty and reduced advertising budgets caused by the pandemic, Christine Martino, the chief revenue officer at Screenvision, faced a significant drop in Upfront revenue, as advertisers reduced their spending on cinema advertising.
- As cinemas closed or operated at limited capacity during 2020, Screenvision, a company specializing in business growth through finance and entertainment, sought innovative solutions to maintain a notable position in the cinema advertising industry and cater to the needs of advertisers and cinema-goers alike.
