By Abhimanyu Vyas
Marketing and promotions have always been crucial for the film industry, helping production houses reach out to a wider audience and generate buzz around their upcoming releases. However, until recently, movie marketers in India have largely relied on traditional advertising methods such as billboards, newspaper ads, and TV commercials to promote their films.
The advent of MarTech, or marketing technology, has changed the game entirely, enabling movie marketers to use data-based optimization levers and tap into the full spectrum of data.
Using data partnership tie-ups and Data Management Platform (DMP) audience data, movie marketers can target audiences of booking partners and target them in the awareness phase. This enables them to reach out to the right people at the right time, increasing the likelihood of successful conversions.
Using offline conversion and offline-to-online tracking setups, movie marketers can track final conversion actions that have eluded them for a long time and are commonly used by e-commerce partners.
As a result, production houses can now track not just the number of people who have viewed their trailers or visited their website, but also those who have booked tickets and watched the movie.
First Box Office predictions
However, the biggest development in recent years has been the introduction of FBO (first box office) prediction solutions that start from 6 to 8 weeks out from the release date. These predictability solutions help gauge the impact of events or promotional events on the change in FBO prediction. This helps production houses make informed decisions on where to invest their marketing budget and how to optimize their campaigns for maximum impact.
Another area very closely tracked by production houses is social chatter and sentiment. To tackle the same, custom social listening solutions tailor-made for the industry have been deployed, which track topics and the context of the conversation and rate the sentiment scores. This means that production houses can monitor the buzz around their movies on social media and respond accordingly to maximize their reach and engagement.
AI in film marketing
The use of predictive analytics tools in movie launches is becoming increasingly important for production houses and distributors. These tools help them to make informed decisions about marketing, release dates, and distribution strategies, ultimately leading to more successful box office performances. With the continued growth of predictive analytics and machine learning, we can expect to see even more accurate and innovative tools being developed in the future.
Video Generative AI is another ground-breaking technology that has the potential to revolutionize the movie production industry. One of the most popular tools that has been developed using this technology is Synthesia. In the movie production industry, Video Generative AI has already shown great potential. Deepart.ai is another tool that has been specifically designed to help movie production houses create videos with realistic human movements and expressions. It works by using deep learning algorithms to analyze videos of real people and then generate a 3D model that can be animated to create a video.
In conclusion, the use of MarTech in movie marketing and promotions is transforming the industry, enabling production houses to reach out to a wider audience, track and optimize their campaigns, and engage with their fans in new and exciting ways. With the continued growth of MarTech and data analytics, we can expect to see even more innovations in movie marketing and promotions in the coming years.
Figure: Correlation of First Day Box office collection in India with various pre-release digital factors
Here are some of the top MarTech services providers to production houses in India:
ORMAX is a Mumbai-based media consulting firm that specializes in film, television, and digital media. ORMAX has developed a movie prediction model that uses machine learning algorithms to predict the box office performance of Bollywood movies. The model analyzes various factors such as star power, genre, release date, marketing campaign, and historical box office data to generate predictions.
PivotRoots specializes in predicting box office performance for both Hollywood and Bollywood films in India, working closely with several global and Indian production houses. Its MarTech division has developed a tool that uses machine learning algorithms to analyze various factors such as cast and crew, genre, release date, social media buzz, digital and survey indicators, and historical box office data to generate predictions.
Parrot Analytics is a global content demand analytics company that has developed a tool called “Demand Score” for the entertainment industry. The Demand Score measures the popularity of a movie across various platforms such as social media, streaming, and piracy. The tool uses artificial intelligence and machine learning algorithms to analyze billions of data points to generate an accurate and comprehensive demand score. The demand score helps production houses and distributors to make informed decisions about marketing, release dates, and distribution strategies.
The author is the Business Head- Analytics, PivotRoots. Views expressed are personal.
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