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Amusement parks increasing ad spend on outdoor advertising
MUMBAI: The Indian amusement parks industry is at a nascent stage and is expected to grow at a rate of 20 per cent annually.
According to the ‘Indian Association of Amusement Parks & Industries’ (IAAPI), for a population of 1.2 billion in the country, there are only 120 amusement parks and 45 family entertainment centres (FECs).
This indicates that the growth potential of Indian amusement and theme park industry is substantial and therefore, the investment on advertising has also gone up. The latest ad spend suggests that during the summer season, these parks have significantly increased their budget on outdoor advertising to tap into the interest of families and youngsters. They are preferring large hoardings and transit media.
Global Advertisers MD Sanjeev Gupta said, “Amusement parks have now become a new source of entertainment for discerning Indian families, given the fact that they have more disposable income and are ready to spend on leisure. As per the data, this sector is going to touch $1.8 billion with nearly 500 new parks by 2020. With this kind of potential, we are hopeful to see great demand of outdoor advertising in the near future.
“Recently, we executed the outdoor campaign for Snow World, Adlabs Imagica and Water kingdom. They have varied messages to communicate to their potential customers – such as introducing summer packages, launching new rides, celebrating special days such as women’s day or festivals, adding new themes such us snow village – through an outdoor campaign.We have witnessed 15-20 percent increase in the engagement of hoardings by the entertainment parks in this summer season.”
50 million people visit these parks annually in Indian and is expected to grow by 10-15 per cent (CAGR). Consequently, this number is likely to touch around 75-80 million in a few years. With the help of outdoor advertising along with other media such as TV, Radio and Digital promotions, this sector can expand their reach further.